Highlights in 1 Half 2021

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Highlights in 1stHalf 2021

Revealing key points one at a time enhances comprehension.

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Projects on hand

—RACHEL GILLETT, FAST COMPANY

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TOTAL EQUITY

MWp

June 30,2021 100

projects

563.6

MWp

9

projects

836.72

MWp

109

projects

1,400.32

MWp

1,273.84

MWp*

SUPEREIF(2) 19

projects

118

MWp

- - 19

projects

118

MWp

23.6

MWp

TOTAL(1+2) 119

projects

681.6

MWp

9

projects

836.72

MWp

128

projects

1,518.3

MWp

1,327.56

MWp*

SOLAR PROJECTS


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WASTE TO ENERGY PROJECTS

Projects LocationInstalled MW /

PPA MWAdder(THB) Technology COD Date

GPE

(Industrial Waste)

Sa Keao

province9.9 / 9.0

3.50

for 7 year

Circulating

Fluidized-Bed 14 June 2018

SEE6

(Municipal Waste_RDF100%)

Phichit

province9.9 / 9.0

3.50

for 7 year

Step Gate/

Stoker30 April 2020


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Operating Power Project PortfolioTariff(THB/kWh) Capacity(MW)

Solar-Thailand

Adder 6.50 5.95 0.9%

Adder 8.00 7.00 1.0%

FiT 5.66 609.70 89.5%

FiT 5.38 30.95 4.5%

FiT 4.12 28.00 4.1%

(1) Subtotal - Solar Thailand 681.60 100%

Solar-Vietnam

FiT USD 9.35cent (~ 2.9THB) 286.72 34%

FiT USD 7.09cent (~ 2.3THB) 550.00 66%

(2) Subtotal - Solar Vietnam 836.72 100%

TOTAL – Solar(1)+(2) 1,518.32

Waste Tariff(THB/kWh)

Adder 3.50 18.00

TOTAL - Waste 18.00

Grand total 1,536.32

Equity Capacity 1,345.60

Financial Highlight

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REVENUE

4,421 MBYear

2018

2019

2020

2021(Q1)

Revenue

5,729 MB

6,246 MB

6,515 MB

2,231 MBNET PROFIT

1,913 MB

89% 88% 86% 87%

54% 53% 51% 52%

22%38%

23%

44%

0%

20%

40%

60%

80%

100%

2018 2019 2020 2021(Q1Q2)

EBITDA Gross Profit Net Profit

87%SUPER has a strong cashflow

from operation with high

average EBITDA Margin

INCOME PERCENTAGE

Performance of 1st Half 2021

2021(Q1Q2) 4,421 MB

Revenue Gross Profit SG&A Net Profit

Q1-2020 1,684 929 150 789

Q1-2021 2,231 1,160 112 1,094

1,684

929

150

789

2,231

1,160

112

1,094

-

500

1,000

1,500

2,000

2,500

FINANCIAL PERFORMANCE

Revenue Gross Profit SG&A Net Profit

Q2-2020 1,592 827 127 205

Q2-2021 2,190 1,119 119 819

1,592

827

127 205

2,190

1,119

119

819

-

500

1,000

1,500

2,000

2,500

Million Baht

+138% +399%

Q1Q2-2020 Q1Q2-2021

Revenue 3,276 4,421

Gross Profit 1,756 2,279

SG&A 277 231

Net Profit 994 1,913

3,276

4,421

1,756

2,279

277 231

994

1,913

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

FINANCIAL PERFORMANCEMillion Baht

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5,729

6,246 6,515

3,276

4,421

2018 2019 2020 2020(Q1Q2) 2021(Q1Q2)

5,089 5,469 5,614

2,689

3,828

2018 2019 2020 2020(Q1Q2) 2021(Q1Q2)

1,274

2,374

1,528

994

1,913

2018 2019 2020 2020(Q1Q2) 2021(Q1Q2)

Revenues from sale and services(MB) EBITDA(MB) Net Profit (MB)

+35% YoY +42% YoY +192% YoY

46% 47% 49% 45% 48%

% COGS on revenues

89% 88% 86% 82% 87%

% EBITDA on revenue

22% 38% 23% 30% 44%

% Net profit margin

* Year 2019 : Profit from SUPEREIF =991MB

Note: (1) EBITDA as net income before (i) interest expense, (ii) income tax benefit (expense) and (iii) depreciation and amortization

(2) EBITDA margin as a percentage of revenue for a given period

(3) Net profit margin as a percentage of revenue for a given periods

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Q1 Q2 Q3 Q4 Year End

2019 1,617 1,580 1,492 1,557 6,246

2020 1,683 1,614 1,651 1,566 6,514

2021 2,231 2,190

1,617 1,580 1,492 1,557

6,246

1,683 1,614 1,651 1,566

6,514

2,231 2,190

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

Millio

n B

ah

t

REVENUE YEAR 2019 YEAR 20202020

(Q1Q2)2021

(Q1Q2)YoY

Solar TH 5,276 4,603 2,432 2,423 -9

Existing projects 4,653 4,603 2,432 2,423

SUPEREIF* 623

Solar VN 399 1,013 463 1,455 +992

WTE 407 561 225 369 +144

Water 44 166 90 85 -5

IT 86 84 45 41 -4

OTHER 34 88 42 48 +6

Total 6,246 6,514 3,297 4,421 +1,124

Million Baht

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REVENUE STRUCTURE

Solar TH

84%

Solar VN

6% WTE

7%

Other

3%

Solar TH

71%

Solar VN

15%

WTE

9%

Other

5%

Solar TH

63%

Solar VN

25%

WTE

8%

Other

4%

Year 2019 = 6,246 MB Year 2020 = 6,514 MB Year 2021(Q1Q2) = 4,421MB

Growth of Vietnam revenue will be increasing and the combination between Thai and Vietnam will approximately be to 50 : 50 from year 2022

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Gross Core Profit Margin

57%

46%

23%

58%

46%

26%

62%

47%

26%

61%

48%

28%

0%

10%

20%

30%

40%

50%

60%

70%

Solar TH Solar VN WTE

Year 2019 Year 2020 Year 2021(Q1) Year 2021(1H)

Gross profit(MB)

2019 2020 2021(Q1)

2021(Q1Q2)

Solar TH 2,989 2,682 784 1,477

Solar VN 184 461 33 691

WTE 94 147 47 103

Others 32 20 - 8

Gross Profit 3,299 3,310 1,160 2,279

GP margin 53% 51% 52% 52%

▪ Depreciation and Amortization are major item of COGS

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Balance SheetMillion Baht

4,973

42,510

55,669

9,028

27,925

1,765

36,811

18,858

3,634

64,380

73,160

11,440

32,379

4,681

52,537

20,623

5,618

67,828

76,164

4,024

44,170

4,681

54,872

21,292

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

Current assets Operating assets Total assets Current liabilities Financial

Institution loan

Debenture Total liabilities Shareholders'

equityYear 2019 Year 2020 Year 2021(1H)

Assets 2019 2020 2021(1H) +/-

Current assets 4,973 3,634 5,618 +1,984

Operating assets 42,510 60,402 67,828 +7,426

Total assets 55,669 73,160 76,164 +3,004

Liabilities 2019 2020 2021(1H) +/-

Current liabilities 9,028 11,440 4,042 -7,398

Financial loan 27,925 32,379 44,170 +11,791

Debentures 1,765 4,681 4,681 -

Total liabilities 36,811 52,537 54,872 +2,335

Equities 2019 2020 2021(1H) +/-

Capital 11,737 11,737 11,737 -

Retain earning 3,863 5,145 6,548 +1,403

Equities 18,858 20,623 21,292 +669

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Key Financial Ratio

Year

2019

Year

2020

2021

1st half

Debt to equity ratio 1.9 2.5 2.5

Debt service coverage ratio 1.7 1.3 1.2

Interest coverage ratio 4.2 3.3 4.3

Interest-bearing debt to equity ratio 1.6 1.9 2.3

Financial institutional loan to equity ratio 1.5 1.7 2.1

Gross profit margin 53% 51% 52%

EBITDA margin (excluding FX) 82% 81% 87%

Net profit margin 38% 23% 43%

SUPER Forecast

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OPERATING PROJECTS-MW COD2021(Q1Q2) 2021 2022 2023

SOLAR

Solar - THAILAND 681.60 681.60 681.60 681.60

Solar- VIETNAM 836.72 836.72 836.72 836.72

SPP Hybrid - - 16.00 16.00

TOTAL SOLAR 1,518.32 1,518.32 1,534.32 1,534.32

WTE

Existing projects 18.00 18.00 18.00 18.00

Nongkai - - 6.00 6.00

Nontaburee - - - 16.00

TOTAL WTE 18.00 18.00 24.00 40.00

WIND

SocTrang - 30.00 30.00 30.00

GaiLai - 50.00 50.00 50.00

BacLieu - - 141.00 141.00

PhuYen - - - 200.00TOTAL WIND - 80.00 221.00 421.00TOTAL SUPER 1,536.32 1,616.32 1,779.32 1,995.32TOTAL ECONOMIC MW 1,345.60 1,425.60 1,586.62 1,802.62

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SUPER REVENUES2021(Q1Q2) 2021 2022 2023

SOLAR

Solar – THAILAND 2,423 4,877 4,829 4,872

Solar- VIETNAM 1,455 3,069 3,055 3,041

SPP Hybrid - - 70 280

SUPEREIF(O&M) 48 80 80 80

TOTAL SOLAR 3,926 7,946 7,954 8,103

WTEExisting projects 369 827 827 827

Nongkai 270 270

Nontaburee 175

TOTAL WTE 369 827 1,097 1,272WIND

SocTrang - 50 300 300

GaiLai - 95 380 380

BacLieu - - 1,125 1,500

PhuYen - - - 1,700

TOTAL WIND - 240 1,805 3,880

OTHER(Water+IT+Dividend) 170 270 350 349

TOTAL SUPER 4,464 9,188 11,206 13,604

Million Baht

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REVENUE STRUCTURE% of total revenue

71%

53%

43%

37%

15%

33%

27%

22%

0%2%

16%

29%

8%9% 10%

9%

6%

3%

3%3%

0%

10%

20%

30%

40%

50%

60%

70%

80%

Year 2020 Year 2021 Year 2022 Year 2023

Solar TH

Solar VN

Wind VN

WTE

Others

Investment &

Development Projects

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DEVELOPMENT PROJECTS-WINDWind Projects - VIETNAM

Projects MWp Invest

ment

(MB)

Status Tentative

COD

Expected

Revenue

(MB/YR)

Soc Trang 30 2,200* Under

construction

Q4-2021 300

Gia Lai 50 2,400* Under

construction

Q4-2021 380

Bac Lieu 141 9,500* Under

construction

2022 1,500

Phu Yen 200 9,600 Under

construction

TBD 1,700

TOTAL WIND 421 23,700 3,500

Remarks : BacLieu, Soc Trang and Gia Lai have already signed EPC contracts and got EPC

financing from the contractors.

PhuYen 200 MWp

Phu Yen province

Gia Lai 50 MWp

Gia Lai province

Soc Trang 30 MWp

Soc Trang province

Bac Lieu 141 MWp

Bac Lieu province

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Progress of offshore WIND project : GiaLai

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Progress of offshore WIND project : GiaLAi

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Progress of offshore WIND project : SocTrang

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Progress of offshore WIND project : SocTrang

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Progress of onshore WIND project-SocTrang

Cable link Bridge construction

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Progress of onshore WIND project-SocTrang

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Progress of onshore WIND project-BacLieu

Substation construction

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Progress of onshore WIND project-BacLieu

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DEVELOPMENT PROJECTS-WTEWaste-to-Energy Power Plant-THAILAND

Projects MWp Investment

(MB)

Status Tentative

COD

Expected

Revenue(MB/YR)

Nhongkhainayu 6 1,700 Under construction Q2-2022 220

SEE-Nonthaburi 16 5,000 TBD TBD 700

GPE-Nakorn Si Thammarat 16 TBD TBD TBD 500

SEE-Petchaburi 8 TBD TBD TBD 440

TOTAL WTE 46 1,860

Solar -THAILAND

Projects MWp Investment

(MB)

Status Tentative COD Expected

Revenue(MB/YR)

SSE-SPP Hybrid 16Solar+ Biogas

2,200 Start construction in

Q1-2022COP-Approved

PPA-22/3/2021

October-2022 270

Private PPA 37.64(33.24+4.04)

1,200 TBD TBDAlready COD=1MWp

190

TOTAL SOLAR 87.64 460

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Progress of WTE project-Nhongkhainayu

As at August 2021

Overall work progress 61%

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Progress of WTE project-Nhongkhainayu

Air Cool Condenser

As at August 2021

Air Cool Condenser Turbine Building Steel Turbine Structure

Turbine RC work Workshop Water Treatment RoadFuel Storage

Q&A

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Super Energy Corporation PLC

THANK YOU

Documents

Highlights in 1 Half 2021