Energy Absolute Public Company Limited...ESN 2014 2015 2016 25 Contract Capacity (MW) 90 MW Commercial Operation Date (COD) 17 February 2015 2015 power output (Million unit) 191.3

Energy Absolute

Public Company Limited

March 2017

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Our Business

Our Project Pipeline

Our Power Plant

Financial Results

E@ at a Glance

Established In 2006 to produce palm oil

Core Business Renewable Energy

Secondary Market MAI since 30 Jan 2013 and SET since 6 Jan 2017

Market Capitalization

As of Feb 2017Approximately THB 93.25 billion (3,730 million shares),

Liquidity Free Float 34.56%

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Closed price : THB/share ‘000 shares

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35.00

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Our Business & Group Structure

Energy Solution Management Service

99% held by EAEngineering, Design, Construction management and Operation and

Maintenance of Power Plants,

35.20% held by EA

Shareholder Structure

Number of Total Shareholders = 7,651Free Float = 34.56%

Education• MBA from University of Pittsburgh, USA• Bachelor of Engineering from Chulalongkorn University, ThailandPrevious Work • Analyst and Researcher in USA.• Managing Director of a Securities Brokerage company in

Thailand• Managing Director of a Renewable Energy company in

Thailand

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Mr.Somphote AhunaiChief Executive Officer

Education• Master of Science from Chulalongkorn University, Thailand• Bachelor of Business Administration

(Finance and Banking) from Thammasat University, ThailandPrevious Work• Investment Banker and Financial Advisor,• Director in a Renewable Energy company

Mr.Amorn SapthaweekulDeputy to CEO and Chief Finance Officer

* Ahunai Family including USB AG Singapore Branch

*

Opportunity Base on AEDP 2015-2036

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Alternative Energy Development Plan : AEDP 2015-2036

Target of Alternative Energy = 30% in 2036

Solar6,000 MW

Wind3,002 MW

Mini Hydro376 MW

Hydro2,906.4 MW

Bioenergy

Biomass5,570 MW

Biogass600 MW

Waste500 MW

Energy Corp680 MW

Industrial Waste50 MW

Biofuel

- Ethanol 11.3 ML/d- Biodiesel 14 ML/d- CBG 4,800 Ton/d

- Pyrolysis Oil 0.53 ML/d

source : The Energy Regulatory Commission (ERC)

Location Kabinburi Industrial Estate, Prachinburi

under BOI promotion & privileges

Plant

Capacity

• Biodiesel 800,000 Liters per day

• Refined Glycerin 80 Tons per day

Certificate Certificate Number

TNI-SC-F-1201

53866/A/0001/UK/En

Expire date 6 Jun 2017

ISO 9001 : 2008Expiry date 12 Sep. 2018

Biodiesel Production

7

Strong Customer Base Sales Volume

Biodiesel Sales

8

(In Million liters) %Gross margin

9

0.00

5.00

10.00

15.00

20.00

25.00

30.00

35.00

40.00

45.00

CPO_MOC B100

20 Jan 15-

15 Apr 153.5%

16 Apr 15-24 Jul 167%

25 Jul 16-

24 Aug 16

5%

25 Aug 16-

24 Nov 16

3%

Baht/Kg.

25 Nov 16-

now5%

B100 and CPO Price (1 Jan 15 – 31 Dec 16)

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Our Business


Our Power Plant

Financial Results

664

MW

Development of Renewable Power Plants

as of Q3_2016

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COD6,380 MW

(6,992 Projects)

Signed PPA + to be Signed2,843 MW

Total CommittedCapacity

9,223 MW

Target of AEDPin 2036

16,778 MW

source : The Energy Regulatory Commission (ERC)

-

1,000

2,000

3,000

4,000

5,000

6,000

Waste Biomass Biogas hydro Wind Solar

370

3,638

417 46

1,616

3,039

550

5,570

1,280

376

3,002

6,000

COD+Signed PPA+to be Signed AEDP 2036

MW

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Electricity Price Structure

Base Tariff

Adder10 years from

COD

FtFuel

Adjustment Charge

Baht/kWh

8 Bt.

Lopburi

8 mw

Until Oct 2022

6.5 Bt.

Nakornsawan

90 mw

Until Dec 2023

Lampang

90 mw

Until Feb 2025

Phitsanulok

90 mw

Until Apr 2026

3.5 Bt.

Southern Wind Projects

126 mw

North-Eastern Wind Projects

260 mw

-0.4285 Bt./kWh As of Dec 2016

Peak Time: Weekdays

09.00 –22.00

4.22 Bt./kWh

Off-Peak Time: Weekdays

22.00 – 09.00 + Weekend + Holidays

2.36 Bt./kWh

Project Pipeline

Solar+ 8 MW + 90 MW + 90 MW + 90 MW

Lopburi Nakorn-sawan

Lampang Phitsanu-lok

Wind

Had Kanghan

(Songkhla and

Nakornsritammarat)

+ 126 MWTo be COD

Hanuman(Chaiyaphum)

+ 260

MW

F2018

Solar

42%Wind

58%

13

8

98 98188

278

404

664MW

Project Management Capability

2014:90 MW Lampang

2016:90 MW PhitsanulokEA Solar Phitsanulok (“ESP”)

2013:90 MW Nakornsawan

2012: 8 MW LopburiEnergy Solution

Management Service

E@

Independent Engineer

• Thin film & Multi Crystalline

• Fixed system

• Multi Crystalline • Fixed system

• Multi Crystalline • Tracking system

Project Companies

EA Solar Nakornsawan (“ESN”)

EA Solar (“EA Solar”)

EA Solar Lampang (“ESL”)

Engineering, Design

& Construction

management

Operation &

Maintenance service

Verify and advise

Engineering Service Company

E@ has in-house engineering knowhow and team for

plant design optimization & construction management

and operation & maintenance service.

EA Wind Hadkanghan (“HKH”)

2016:126 MW Songkla,

Nakhosrithammarat

• Multi Crystalline • Tracking system

• 3 Sub-Wind Farms

EA Wind Hanuman (“HNM”)

2018:260 MW Chaiyaphum

• 5 Sub-Wind Farms

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Solar Power

278 MW

Nakornsawan (THB 6.7 bil)

Contracted Cap: 90 MW

Installed Cap : 126.126 MW

Technology: Fixed system

COD : 23 Dec 2013

Land area: 1,858 Rais (735 acres)

Adder : 6.50 baht/kwh

Lopburi (THB 812 mil)



Technology: Fixed System

COD : 17 Oct 2012

Land area: 315 Rais (124.5 acres)

Adder : 8 baht/kwh

Phitsanulok (THB 9.5 bil)



Technology: Tracking system

COD : 1 Apr 2016

Land area : 1,800 Rais (732 acres)


Lampang (THB 8.07 bil)



Technology: Tracking system

COD : 17 Feb 2015

Land area : 2,354 Rais (930 acres)


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3 4

15Note : 1 acre = 2.529 rais

North-Eastern (Chaiyaphum)

THB 20 bil.


SCOD : Q2/2018


Status: PPA signed /

Preparation for

construction and

Fund Sourcing

Wind Power

2386 MW

Hadkanghan (East Coast Southern)

THB 10.4 bil.



Status : To be COD

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Located in Songkhla and Nakornsritammarat

province

Adder 3.50 Baht/kWh for 10 years

THB 10.4 billion Project Cost

Wind turbine : Vestas (Denmark) V110-2.0 at 1.8 mw each

Complete Installation and testing of 70 WTG

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Had Kanghan Wind Farm 126 MW

Sub-Project Capacity (MW)

HKH 1 36

HKH 2 45

HKH 3 45

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

P90

P50

Capacity factor : 20-25%

HKH site location

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Plant location & general plot plan

Wind Turbine Generator (ETG) 70 sets will be located

57 km. along seaside by the following areas:

• HKH1 Project : Location at Ranote district,

Songkhla province.

• HKH2 Project : Location at Hua Sai district,

Nakhon Si Thammarat province.

• HKH3 Project: Location at Pak Phanang district,

Nakhon Si Thammarat province.

Substation : Built and transferred to EGAT

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Located in Chaiyaphum province

Current Status : 5 PPAs – signed

Pre construction

Fund sourcing

Adder 3.50 Baht/kWh for 10 years

THB 20 billion Project Cost

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Hanuman Wind Farm 260 MW

Sub-Project Capacity (MW) SCOD

Hanuman 1 45 APR 2018

Hanuman 5 48 MAY 2018

Hanuman 8 45 APR 2018

Hanuman 9 42 MAY 2018

Hanuman 10 80 JUN 2018

Wind Turbine for Hanuman Project

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• Vestas (Denmark) wind turbine

87 sets at 2.96 MW each

• Hub height 157 m.

• Blade length 67 m.

• Cut in wind speed = 3 m/sec

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Our Business


Our Power Plant

Financial Results

Contract Capacity (MW) 8 MW

Commercial Operation Date (COD) 17 October 2012

2015 power output (Million unit) 14.6


2015 Average daily output (unit) 39,893


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Lopburi Solar Farm 8 MW

Unit : kWh/day

0

5,000

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45,000

50,000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

Lopburi

2014

2015

2016


Commercial Operation Date (COD) 23 December 2013





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Nakornsawan Solar Farm 90 MW

Unit : kWh/day

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000


ESN

2014

2015

2016

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Commercial Operation Date (COD) 17 February 2015





Unit : kWh/day

Lampang Solar Farm 90 MW

0

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800,000


ESL

2015

2016

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Commercial Operation Date (COD) 1 April 2016

APR-DEC 2016 power output (Million unit) 165.6

APR-DEC 2016 Average daily output (unit) 602,221

Unit : kWh/day

Phitsanulok Solar Farm 90 MW

0

100000

200000

300000

400000

500000

600000

700000

800000


ESP

2016

400,000

450,000

500,000

550,000

600,000

650,000

700,000

1 2

Daily Average : kWh

Output from sun tracking system is 17.23% higher

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Tracker

Fixed

513,695

602,221

NakornsawanAPR - DEC 2016

PhitsanulokAPR - DEC 2016

Total Power Production

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Total power output of 2016 = 566,512,325 units (43.28% higher than last year) resulted from COD of Phitsanulok power plant.

Lampang started COD17 Feb 2015

Phitsanulok started COD1 Apr 2016

0

10,000,000

20,000,000

30,000,000

40,000,000

50,000,000

60,000,000


2015

2016

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Our Business


Our Power Plant

Financial Results

-

10,000

20,000

30,000

40,000

50,000

2011 2012 2013 2014 2015 2016

1,017 1,142 4,3635,897 8,510

11,3897081,403

7,103

13,429

24,547

30,118

Total Liabilities

Shareholder's Equity

Capital Structure

30

2011 2012 2013 2014 2015 to 2016

Biodiesel business only

Oct - COD of ESLO, 9 mw solar power plant

Dec - COD of ESN, 90 mw solar power plant

Construction of ESL, 90 mw solar power plant

- Feb 2015- COD of ESL, 90 mw solar power plant - Construction of ESP, 90 mw solar power plant which started COD in Apr 2016- Construction of HKH, 126 mw wind power plant

2.64 times2.88 times2.28 times1.63 times1.23 times0.70 timesTHB mil.

Offer to Institution and High Net Worth Investors

Subscription date : 21 Jul 2016 , Issue date : 22 Jul 2016

Type : Senior Debt , Secured by Siam Commercial Bank

Condition to maintain Net Debt to Equity Ratio • As of ending of 2016 , 2017 and 2018 : not more than 3.5 : 1

• As of ending of 2019 , 2020 and 2021 : not more than 3 : 1

EA Bond # 1/2559 : THB 8,000 mil.

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IssueAnd rating

Value Secure by SCB

Maturity Due date Interest payment

Interest rate

EA Secured bond # 1/2559 - Tranche 1

(rating A-)

THB 1,000 mil.THB 1,000 each

65% 3 years 22 Jul 2019

22 Janand

22 Jul

2.36%


(rating AA)


100% 4 years 22 Jul 2020Callable after 3 years

2.22%


(rating AA)


100% 5 years 22 Jul 2021Callable after 3 years

2.37%

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Revenue and Net Profit

THB Mil.

Revenue

Net Profit

0

2000

4000

6000

8000

10000

12000

2011 2012 2013 2014 2015 2016

5,4314,479 3,999

7,601

9,212 10,439

0

1000

2000

3000

4000

2011 2012 2013 2014 2015 2016

63 107 268

1,608

2,6883,252

THB mil.

THB mil.

0

1000

2000

3000

4000

5000

6000

2011 2012 2013 2014 2015 2016

3,114 3,1333,343

4,991 5,0053,935

79 18145 231 220 16935

203

2,187

3,956

4,024

2698

142 17416 58

1,150

808

104

1,056

366

Biodiesel Glycerin Power Others High Speed Diesel LPG

Revenue structure

33

THB mil.

- Ceased trading of LPG and High Speed Diesel since 2013 and 2014 respectively because of low margin - Started operation of the first Solar Power Plant in October 2012 with contract capacity of 8 MW- Currently, the total contract capacity of 4 Solar Power Plants = 278 MW

57%

43%

Revenue breakdown for Y2015

Biodiesel business

Solar power business

Contribution of two business units

34

47%

53%

Revenue breakdown for Y2016

Biodiesel business


5%

95%

Net Profit breakdown for Y2015

Biodiesel business


1%

99%

Net Profit breakdown for Y2016

Biodiesel business


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Effects on FY2016 Net Profit

Solar Gross Profit Increase

2,688

4,339

416

46

-442 -102

-995

-6

3,252

Net ProfitY2015

Solar GrossProfit

BiodieselGross Profit

OtherRevenue

SG&A FX Loss Financial Cost Tax Net ProfitY2016

THB Mil.

Special items in Y2016 - Starting COD of Phitsanulok power plant in Apr.1, 2016- Special expense and maintenance to improve power plant THB 20.81 mil.- Bank’s charge THB 24.65 mil. for cancellation of credit facilities after issuing of debentures- FX Loss THB 99.79 mil. from execution as per condition stated in finance agreement

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Amita Overview

Leading Lithium-Ion polymer battery manufacturer Founded in 2000 by Dr. Jim Cherng (CEO) Listed in Taiwan Emerging Stock Market HQ and Factory Located in Taoyuan, Taiwan Maximum Capacity: 230 Mwh/year Total Employees : 160 (Office 100 + Operator 60)

Source : http://www.amitatech.com/index.php

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Shareholder Structure

Before After

EA invests in newly issued shares for the total of NT$ 619 mil. (approx. THB 690 mil.)

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Core Businesses & Clients

Main Businesses High Power Battery for EV, E-Scooter, Power Plant OEM (Original Equipment Manufacturer) – Litarion PDCA- Post Dry Cell BatteryTurnkeys

Bejing Phase 1 – already completed Bejing Phase 2 – during construction

Main Clients : UPS Units, Power Bank, Power Tools, Battery- powered Vehicles, and Energy Storage Europe: EV (Electric Vehicle)Taiwan: E-ScooterJapanese: ESS (Energy Storage Systems)China: Turnkey

Energy Storage Applications

StationaryMobile

On/Off grid StorageElectric Transport Electronic Devices

Storage for utilities

Used to shift energy produced

Useful for integrating intermittent energy source

Provide grid stability and range of other benefits

Batteries for plug-in electric vehicles

Batteries for hybrid vehicles

Batteries for other electric vehicles (buses, train etc)

Mobile Phones, Smart phones

Laptops

Power tools

Mobile games

Energy Requirements (kW or MW)

Technology & Market Maturity LowHigh

Low High

Source : Silicon Valley Bank- Energy Storage Overview

Summary of Lithium-based Batteries

Chemistry Lithium Cobalt Oxide

(LCO)

Lithium Manganese Oxide (LMO)

Lithium Nickel Manganese (NMC)

Lithium Iron Phosphate (LFP)

Lithium Nickel Cobalt Aluminum Oxide (NCA)

Lithium Titanate(LTO)

Cycle life (ideal)

500–1000 300–700 1000–2000 1000–2000 500 3,000–7,000

History 1991 (Sony) 1996 2008 1996 1999 2008

Applications Mobile phones, tablets, laptops, cameras

Power tools, medical devices, powertrains

E-bikes, medical devices, EVs, industrial

Stationary with high currents and endurance

Medical, industrial,EV (Tesla)

UPS, EV, solar street lighting

Comments High energy, limited power. Market share has stabilized.

High power, less capacity; safer than Li-cobalt; often mixed with NMC to improve performance.

High capacity and high power. Market share is increasing. Also NCM, CMN, MNC, MCN

Flat discharge voltage, high power low capacity, very safe; elevated self-discharge.

Highest capacity with moderate power. Similar to Li-cobalt.

Long life, fast charge, wide temperature range and safe. Low capacity, expensive.

Source :www.batteryuniversity.com40

http://www.batteryuniversity.com/

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Our Growth and Group Structure

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Energy Absolute PCL

THANK YOU

A leader in alternative energy business, by using the modern technology

and environmentally friendly for the best benefit of consumers,

shareholders, partners and fairness to employees.

Documents

Energy Absolute Public Company Limited...ESN 2014 2015 2016 25 Contract Capacity (MW) 90 MW Commercial Operation Date (COD) 17 February 2015 2015 power output (Million unit) 191.3