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BG Container Glass Public Company Limited

Opportunity Day

17th May 2019

Disclaimer

The information contained in this presentation is strictly confidential and is provided by BG Container Glass Public Company Limited (“BGC” or the "Company") to you solelyfor your information. Neither this presentation nor any part hereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied,duplicated or otherwise reproduced in any form or by any means; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your organization orelsewhere, without the prior written consent of the Company and its respective affiliates or advisors. By attending this presentation, participants agree not to remove thisdocument, or any materials provided in connection herewith, from the conference room where such documents are provided without express consent from the Company andits respective affiliates or advisors.

Although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, no representations orwarranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in thispresentation. The information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all materialinformation concerning the Company and its subsidiaries. None of the Company nor any of its respective affiliates or advisors nor any of its or their respective members,directors, officers, employees or affiliates assumes any responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information containedherein. Accordingly, none of the above nor any other person accepts any liability (in negligence, or otherwise) for any loss arising from or in connection with any use of thispresentation or its contents.

This presentation is for information purposes only and does not constitute or form part of any offer or invitation by or on behalf of the Company for sale or subscription of orsolicitation or invitation of any offer to or recommendation to buy or subscribe for any securities of the Company, nor shall it or any part of it form the basis of or be relied on inconnection with any contract, commitment or investment decision in relation thereto (“Securities”) in Thailand, the United States or any other jurisdiction. Any recipientconsidering a purchase of Securities is hereby reminded that any such purchase should be made solely on the basis of the information contained in a final offering document(which may be different from the information contained in this presentation ) and subject to the selling restrictions set out therein. No public offering of the Securities will bemade in the United States or in any other jurisdiction outside of Thailand where such an offering is restricted or prohibited. This presentation should not be construed as legal,tax, investment or other advice. The information contained herein does not take into consideration the investment objectives, financial situation or particular needs of anyparticular investor, and should not be treated as giving investment advice.

In addition, this presentation contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of theCompany, that are not statements of historical fact which would be treated as forward looking statements that reflect the Company's current views with respect to futureevents and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitiveuncertainties and contingencies as well as various risks which are in many cases beyond the control of the Company, and which may change over time and may cause actualevents and the Company's future results to be materially different than expected or indicated by such statements. No assurance can be given that future events will occur,that projections will be achieved, or that the Company's assumptions are correct. Such forward‐looking statements are not guarantees of future performance and accordingly,the actual results, financial condition, performance or achievements of the Company may differ materially from those anticipated by the Company in the forward lookingstatements. The recipient is cautioned not to place undue reliance on these forward looking statements.

In providing this presentation, the Company does not undertake to provide any recipient with access to any additional information or to update the information contained inthis presentation or to correct any inaccuracies herein which may become apparent. 2

Agenda Outline

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1

3

4

5

2

Company Overview

Business Update

Financial Highlights

Outlook for 2019

Q & A

4

1Company Overview

Bangkok Glass Public Company Limited (“BG”) was established by a group of companies in pharmaceutical and beverage industry and financial institutions with registered capital of THB 50.0 mm

2009

2010

BG Container Glass Company Limited (“BGC”) was established by BG with registered capital of THB 1.0 mm

April 2017BGC increased its paid-up capital to THB 2,500.0 mm to undertake its corporate group restructuring by acquiring all companies in glass packaging business

Oct 2018Initial Public Offering on SET. 194.44 million newly-issued shares were offered to general public at Bt 10.20 per share

Nov 2018Ratchaburi plant started commercial run with capacity at 400 tons/day

December 2017Rayong plant ceased its operation

1983

Boonrawd Brewery became a major shareholder

1996

Khon Kaen planthas commenced its operation

Initiation of “Door to Door” strategy by locating its production facilities close to customers’ facilities, starting at Khon Kaenand followed by Prachinburi

“With the vision of experienced management team, the continued expansion of production

capacity has resulted in growth expansion over 4 decades of success”

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Key Milestones

Ayutthaya plant has commenced its operation

The 1st furnace located at Pathumthani Province commenced its operation

Prachinburi plant,jointly invested with

T.C. Pharmaceutical Co., Ltd, has commenced its operation

Rayong plant has commenced its operation

2017

2007

1974

1980

2018

2016

6

As of 15 Mar 2019

BGC Shareholders

Shareholder Structure

100%

100% 100% 100% 100%

72.0%

7.0%

67.5%

51%

49%

PTI KGI AGI PGI RBI

72.0%

Institutions19.7%

Individual8.3%

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Vision & Mission

VISION

MISSIONThe Company aims to satisfy our stakeholders in these areas;

FinancialTo maximize benefits and returns to all stakeholder

CustomersTo deliver quality products with world-class standards and services at a competitive price

Business Partnership To work with our partners based on a long-term trust and relationship

Work Process To utilize modern technology in every work process with professional teams

PersonnelTo build people competency, promote team work and employee engagement withan entrepreneurial spirit

“BGC is committed to be the ASEAN leader in manufacturing and selling quality glass and packaging as well as other related products and services.”

Quality Service Competitive Pricing

Company Overview

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Current Production Base

Quality Standard

PTI

AGI

KGI

PGI

RBIQ2’2019 Q4’2019

4 Furnaces1,620 tons/day

(46% of group capacity)

3 Furnaces560 tons/day

(16% of group capacity)

1 Furnace400 tons/day

(12% of group capacity)

1 Furnace180 tons/day

(5% of group capacity)

2 Furnaces735 tons/day

(21% of group capacity)

Khon Kaen Plant (KGI)

Prachinburi Plant (PGI)

Ratchaburi Plant (RBI)

Pathumthani Plant (PTI)

Ayutthaya Plant (AGI)

Total 11 Furnaces3,495 tons/day

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Why BGC?

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2

3

4

5

One of the Largest glass container manufacturers in the ASEAN region

Optimized production process with stability and flexibility

State of the Art Machines with continuous improvement and experienced engineering team

Long relationship with customers and suppliers

Network in Key Strategic Locations

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Business Update

2

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Q1 19 Update

Sales growth 3% YoY even with a high-based in 1Q18

High growth in Export, 10% of total sales (Diversification Strategy)

Continually install automated machines and system for Cost Optimization

Debt to Equity improved to 1.7 (Before IPO = 3.0, After IPO = 1.9)

Launch 3 new products in India (No.1 Beer), Vietnam (No.3 Beer) and Spain

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Beer

Soft Drinks (Non-Alcohol)

Food

Insecticides & Drugs

Other Products

36%

42%

1%

9%

12%

Unit: Mil Bt.

Sales Breakdown Q1 2019 Sales Revenue Q1 2019

• Total sales increased by 3% vs. Q1/18, mainly from Soft drinks (increase by 9% vs. Q1/18).

• Total Sales to Boonrawd = 57% of total sales, decreased by 379 bps from Q1/18

• Export volume increased more than double over Q1/18

Q1/18 = 43%

Q1/18 = 34%

Q1/18 = 13%

Bottle Sales Update

Sales distribution Domestic = 90%Export = 10%

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Unit: Mil Bt.

Sales and Net Profit by quarter

Unit: Mil Bt.

2,688

2,788 2,677

3,011

2,798

2,265 2,280

3,057

2,896

3.7%-4.0%

12.5%

-7.1%-19.0%

0.7%

34.1%

-5.3%

4.1%

-18.8%

-14.8%

1.5% 3.5%

-200.0%

-175.0%

-150.0%

-125.0%

-100.0%

-75.0%

-50.0%

-25.0%

0.0 %

25. 0%

50. 0%

1,50 0

1,70 0

1,90 0

2,10 0

2,30 0

2,50 0

2,70 0

2,90 0

3,10 0

3,30 0

3,50 0

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19

QoQ YoY

49

65 69

54

166

91 84

155 162

1.8%

2.3%2.6%

1.8%

5.9%

4.0%3.7%

5.1%

5.6%

10

30

50

70

90

110

130

150

170

190

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19

NPM

Net Profit after TaxSales Revenue

High base in 1Q18 while drop in 2Q18 and 3Q18

3.0

3.5

4.0

Jan'17 Apr'17 Jul'17 Oct'17 Jan'18 Apr'18 Jul'18 Oct'18 Jan'19

Production & Major Raw Material Update

Production Cullet Price

Bt. / Kg

Cullet price continually decreased since the beginning of the year Utilization drop due to stock managementEfficiency drop due to launching new products to export market

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BGC have a temporarily lower energy cost in Oct 18 to Jan 19.

40

50

60

70

80

90

Jan 17 Apr 17 Jul 17 Oct 17 Jan 18 Apr 18 Jul 18 Oct 18 Jan 19 Apr 19

Brent Crude Oil Price

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Water Conservation

โครงการเผยแพร่ความรูอ้งค์กรและงานรัฐกิจสัมพนัธ์

CSR Campaignsบีจีซีรักษ์น ้า

visits

โครงการมอบคอมพิวเตอร์และอุปกรณ์อิเล็กทรอนิกส์

CSR Campaigns

โครงการขวดแก้วแลกบุญ

RecycleWater For Life Concert

กิจกรรมให้ความรู้เรื่องการคดัแยกขยะ

Education

สนับสนุนโครงการให้ทุนการศึกษาบุตร-ธิดาสมาชิกสมาคมผู้สื่อข่าวเศรษฐกิจ

สนับสนุนสโมสรวอลเลย์บอลแอร์ฟอร์ซ

CSR CampaignsSport

สนับสนุนฟุตบอลหญิงทีมชาติ

สนับสนุนการแข่งขันกอล์ฟการกุศล MAT Golf Charity 2018

สนับสนุนการแข่งขันกอล์ฟเยาวชนรายการ Watermill Junior Golf

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3Financial Highlights

Financial Performance

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YoY3% revenue growth derived from (1) export sales of beer bottles, up 174% year-on-year (2)9% increased in both export and domestic sales of soft drink bottlesExport sales rose 90% year-on-year to push the contribution to 10% of total sales

QoQAs sales of domestic beer bottle rose in 4Q18, revenue dropped 5% in 1Q19

+3.5% YoY

YoYHigher gross profit, compared with 1Q18, however, gross profit margin drop of 47 basis points to 16.2% as a result of(1) slight drop in production efficiency as we began the first time producing

new products for new customers (2)+2% year-on-year increase in average energy price (3) fixed cost is slightly higher from Ratchaburi plant, this compensate with

more flexibility in production lineQoQGross profit decreased as resulted from drop in sales, however gross profit margin was remain the same as in 4Q18

YoYAs, 1Q18 had hit the highest net profit in the past 8 quarters, net profit for 1Q19 was dropped by 2%Operating expenses increased mainly from staff-related expenses, rental expense while interest and tax expenses decreased in 1Q19

QoQHigher net profit even sales dropped, thank you lower selling expense and tax expenses in 1Q19

-5.27% QoQ

Un

it:

Mil.

Bt.

+0.6% YoY

-4.79% QoQ

-2% YoY

+5% QoQ

Revenue

Gross Profits & GPM

Net Profits after Tax & NPM

Un

it:

Mil.

Bt.

Un

it:

Mil.

Bt.

Financial Performance

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Asset Liabilities & Equities

Key Ratio

Working Capital Day ROA ROE Debt to Equity

40.5 39.4 days

2018 2019

Working capital day = AR days + Inv days – AP days

3.8% 4.6%

2018 2019

12.8% 12.9%

2018 2019

1.9x 1.7x

2018 2019

6%

3%

14,729 14,354

Total asset slightly decreased by 3%, mainly driven by lower inventory.

Both short term and long term loan from Bank was decreased from prior year, led to 6% decreasing in total liabilities.U

nit

: M

il.B

t.

Un

it:

Mil.

Bt.

Financial Performance

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Dividend

Interim Dividend for 1Q19

= 51% payout ratio

= 0.12 Baht per share

Dividend Policy: BGC has policy to pay dividend not less than 40% of net profit while BGC’s subsidiaries has policy to pay dividend not less than 80% of net profit after deduction of legal and general reserves

We aim to provide investors with a good dividend together with capital growth.

Cash Flow from Operation

Still maintain cash flow from operation above 2,000 Mil.Bt. U

nit

: M

il.B

t.

Earning per share for 1Q19 = 0.23 Baht per share

* Based on Consolidated P&L

*

*

* Prorated to total year

Outlook for 2019

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Business Strategies

Cost reduction by increasing Utilization and Efficiency rate with new technology and information system

Enhance portfolio through Export and High value products

Export from 7% to 10% of total port

Actively look for M&Aopportunity in packaging and related businesses

4 in discussion ranging from related products to glass packaging itself

Short-Term

2019-2020 2019-2020

2020-2022

2022 onwards

Medium-Term

Long-Term

We aim for solid growth outlook with consistent dividend

Across BGC businesses• Automated plants• Top-of-Mind

employers• Product innovations • Build customer

awareness

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AccelerateExport Growth

DriveHigh Value

ProductsIncremental volume in Food Jar i.e. Brand’s &

Vietnam Birdnest

Build PlatformNNPB

productTransition Phase to convert

Returnable to One-Way

Geographical Focus Segment / Product Focus

Expand inNon-BRB

BeerWinning Market Leader

- Full capacity from RBI - Advance our quality

standard to ensure customer satisfaction

- Appoint agents in key export markets

- Approach to no. 1 Brands in every country

- Enhance our R&D team and proactively cooperate with customer to redesign the bottle with improved technology

Market Strategies 2019

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Key driver: - Short supply from Re-Export Beer and Wine

market growth- Already approach to no.1&2 brewery in both

countries

Oceania

Key driver: -Rising Global Demand for Containers and Packaging in India- Positive Outlook for Indian Beer and Cider Market

India

Europe

Key driver: - Long relationship with Sales Agent - Aim for High Value product- Total Glass packaging net import

value approximately to 1,528 Mil USD

CLMV

Key driver: - Growth mainly from Vietnam and Cambodia- Targeted on number 1 beer in each countries

and high value product

Export Market: Market share & Opportunities

Export market aims to increase from 7% to 10% of total sales in 2019

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Key Drivers- RBI fully utilized up to 99%- Technical configuration to serve

product varieties and flexibility to maximize utilization

Key Drivers- Automation : Swabbing Machine

applied in 3 production lines- Furnace Expert Control System (ES III)- IRD-IGC Installation at AGI - Ultrasonic Mold Cleaning

88%89.1%

Avg. Utilization Rate

88.7%87.6%

Avg, Efficiency Rate

Target Efficiency

Target Utilization

Profitability Improvement : Target 2019

(Total 2019)

(Total 2019)

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Q & A

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