TRC Corporate Presentation

The 2nd Qtr 2014 Operating Performance

Opportunity Day

4 September 2014

1

Agenda

Company Overview

Ongoing Projects

Future Developments

Key Financial Highlights

Q&A Session

2

Vision

3

To become the leading contractor of Thailand and Asian Region

delivering the EPC construction services for both natural gas pipeline

projects and petrochemical industry plants as well as stepping up to

become an investment developer in energy business with good

governance practice emphasizing on safety standard, environmental,

societal and community cares for sustainable and constant

growth.

4

Mission

To adhere to working with quality and in accordance with acceptable standard and customers’ satisfaction

with the mission of treating the followings stakeholders in various groups under the good governance:

•Employees: to enhance a dignity concept of working with the organization, place importance on human

right respect and labor treatment on fairly and safety basis as well as human resource development, and

promote skills training in specific fields in parallel with team working management, knowledge and

experience sharing from one generation to another.

•Shareholders: to operate and manage business under the good governance for maturity yield on fairly

and equally basis for all shareholders.

•Customers: to aim at developing the service to deliver works with quality and safety to be in line with

customers’ satisfaction and required standard with on-time delivery and fair price.

•Partners and Competitors: to mutually manage the business under the competition rule on fairly basis

together with enhancing a good relationship with partners and business networks on mutual benefit basis

for long-term relationship.

•Community/Society/Nation: to emphasize on the impact management towards environment, community

and society with a continuous policy of annual budget provision for CSR activities both internally and

externally. The objective is to encourage responsibilities for community and environmental development

as well as returning benefits to society and community so as to address a sustainable development.

5

TRC Group Structure

TRC Construction Public Company Limited

(Thailand)

Paid-up Capital 408.3 MB

Sinopec-TRC Joint Venture

(Thailand)

Sinopec International Petroleum Service Corporation

(China)

Sahakarn Wisavakorn Co., Ltd.

(Thailand)

Paid-up Capital 200 MB

SKK Joint Venture Co., Ltd.

(Thailand)

Paid-up Capital 1 MB

Kuedo Kongyung Co., Ltd.

(Korea)

TRC Investment Limited

TRC International Limited

TRC Middle East LLC

(Sultanate of Oman)

Paid-up Capital OMR 150,000

Mr. Ahmed Mahruqi

(Sultanate of Oman)

TRC Engineering LLC

(Sultanate of Oman)

Paid-up Capital

OMR 250,000

Rock Engineering Services LLC

(Sultanate of Oman)

100%

100%99.99%30%

70% 90%

10%70%

30%

70%

30%

Key Corporate Milestone

• Bidding with many competitors and lower margin

2005Contractor

2006EPC Contractor• Providing Engineering, Procurement

& Construction services with fewer competitors and higher margin

2010Project Developer • Utilizing EPC experiences and

become the “ONE STOP SERVICE” for our clients

2013 onwardsInvestor • For sustainable

growth

• Lump Sum Turnkey Bangchak BioDiesel Plant Project

• Undertaking International & Large Scale Project Development

Nigeria Project

RR Project

• Wang Noi-Kaeng Khoi Cross Country Gas Pipeline• Listed on the MAI

• EPC for Flowline in Sultanate of Oman• Consortium with Siemens for OCS#1

Oman Project

Revamp OCS#1

• Moving to the SET in 2013• Navanakorn-Rangsit Project• Provincial Gas Transmission Project (JV with Sinopec)

• TRC is equipped capability of EPC and undertake Large Scale Projects• Ubon-Bio Ethanol• Gulf’s 7SPP and IPP Gas Pipeline Project

Gulf JP Pipeline

6

• CBG Investment Project in 2014

Ubon Bio-Ethanol

Our Core Business

EPC Services in Overseas

Mechanical Installation and Process Plant

Construction for Energy and Petrochemical Industry

Pipeline Construction for Energy

and Petrochemical Industry

Project Development and Investment 7

8

Shareholder Structure as at 25 June 2014

Free Float Shares: 61.81%

KPK 1999 Co., Ltd &

Mrs. Paichit Rattananon

25.24%

SAMLEE CORPORATION

12.14%

Other

54.44%

Thai NVDR Company

Limited

3.37%

HSBC,

SINGAPORE BRANCH

0.87%

North CITIBANK NOMINEES

SINGAPORE PTE LTD-UBS

AG LONDON BRANCH-NRBS

IPB CLIENT SEG

3.41%

Brooker Corporate

Advisory Co., Ltd

0.53%

Remarks:

(1) 55% of KPK’s shares are held by Mrs. Paichit Rattananon, TRC’s Chairman.

(2) Samlee is a Mauritius Company.

(3) Brooker Corporate Advisory Co., Ltd., is a 99.99% subsidiary of Brooker Group Plc. which is a listed company in MAI, Thailand.

(1)

(2)

(3)

Key Success Factors

Competent and

experienced

professional

management team

& operation personnel

“Provide service excellence and maintain the highest level of customer satisfaction”

Strong risk

management

and solid

liquidity

management

to enables

financial flexibility

Continuously

growing

sustainable

revenue and

profit stream

while creating

loyal and

engaged customers

Establishing strong

strategic alliances

and focus on high

margin projects with high barriers to entry

9

10

Highlight Pipeline Projects

Wang Noi-Kaeng Khoi Gas Pipeline Project Project Value: THB 2,100 million (Construction Period: 2005-2006)

Prasae Water Transmittal Pipeline Project Project Value: THB 1,200 million(Construction Period: 2005-2007)

Songkhla Transmission Pipeline Project Contract Value: THB 337 million + USD 6.18 million

(Construction Period: 2006-2007)

Gulf JP’s IPP Pipeline Project Value: THB 1,185 million + USD 16.345 million

(Construction Period: 2011-2013)

11

Highlight Petrochemical Projects

Ubon Bio Ethanol Project Project Value: THB 2,134 million (Construction Period: 2011-2012)

WS Recovery Boiler Project Project Value: THB 515 million

(Construction Period: 2005-2006)

Revamp Onshore Compressor Station No. 1 Project (# OCS 1) Project Value: THB 1,070 million(Construction Period: 2011-2013)

12

Koh Kong - Sre Amble (Route #48) Road Improvement Project, Cambodia

Contract Value: USD 23 million(Construction Period: 2004-2007)

Construction of Flow Lines Rima Satellites Small Fields, Sultanate of Oman

Contract Value: Approximately of THB 1,229 million(Construction Period: 2009-2014)

Highlight Projects in Overseas

13

Strategic Partners

*

* CSCEC: China State Construction Engineering Corporation, China

** TWC: Tiong Woon Crane Pte Ltd, Singapore*** CCC: Consolidated Contractors Company, Greece

**

***

: 23 April 2013

14

15

SET Awards 2013

Outstanding CEO Awards Top Corporate Governance Report Awards

Outstanding Company Performance Awards

Our Quality, Health, Safety and Environmental Promises

16

17

HSE Achievement of Sahakarn Wisavakorn

New HSE Achievement of TRC Middle East LLC“4 Years LTI Free of Oman Project on 17 June 2013”

18

Our Reputable Clients

19

20

TRC Office Relocation on 23 June 2014

New Address: No. 8 Soi Sukhapiban 5 soi 32, Tha Raeng, Bang Khen District, Bangkok 10220

Agenda

Company Overview

Ongoing Projects

Future Developments

Key Financial Highlights

Q&A Session

21

22

Pipeline

• Gulf JP UT’s Gas Pipeline

• PTT’s Navanakorn-Rangsit Interconnecting Pipeline

• PTT’s Construction of Region VIII Pipeline Operations Center

• PTT’s Provincial Gas Transmission Pipeline Saraburi to Nakorn Ratchasima

• PTT’s Construction Phase for Remaining Gas Recovery

• PTTGC’s Pipeline Distribution System from CUP-1 to PPLC#2

• PTT’s Natural Gas Pressure Reduction Station Pipeline

• REPCO’S 8” Offsite Polyol Pipeline

• Petrogas Rima’s Construction of Flow Lines Satellites Small Fields

Civil Work

• Alucon’s Warehouse & Building Construction• PTT’s Construction of Region VII Pipeline Operation Center

• PTT’s the Energy Laboratory of Applied Building

TRC Group Revenue Growth

Petrochemical Plant

• 450 TPD Biodiesel Plant Project

Long-Term Investment

• Ongoing Core Business

• Investment in CBG

GUT Gas Pipeline

Owner: Gulf JP UT Company Limited

TRC’s Work Value: THB 1,547 million

Scope of Work: EPC package of diameter 28

inches natural gas pipeline installation work

(21 km.), two block valve and one metering station

for Power Plant (IPP) Project

Work Location: Rojana Industrial Park 3,

Ayutthaya Province

Work Period: Aug 12 - Aug 14

% of Completion as at 30 June 2014: 90%

Pipeline Project: Gulf JP UT’s Gas Pipeline

23

Navanakorn-Rangsit Interconnecting

Gas Pipeline

Owner: PTT Public Company Limited

TRC’s Work value: THB 834 million +

USD 7.55 million

(Approximately of THB 1,077.90 million)

Scope of Work: EPC package of diameter 28inches for natural gas (6.2 km.) transmissionbranch from KP.20 of the PTP-NS pipeline toNVRS gas pipeline network including onemetering and regulation station launcher/receiver station

Work Location: Alongside Highway No.9,Chiengrak Noi, Bang Pa-in, AyutthayaProvince

Work Period: Jul 13 - Apr 15

% of Completion as at 30 June 2014: 42%

Pipeline Project: PTT’s Navanakorn-Rangsit Interconnecting Gas Pipeline

24

Owner: PTT Public Company Limited

Contractor: Sinopec-TRC Joint Venture

Work Value: Baht 4,433.65 million + USD 103.45 million

TRC’s Work Portion: Approximately of THB 1,639 million

Scope of Work:

EPC of 28 inch diameter main transmission pipeline for approximately of 112 km. from Saraburi to

Nakhon Ratchasima

EPC of 6 Block Valve Stations, Launcher &

Receiving Station

Work Location: Along Highway No.2 (Mittraphab Road)

Work Period: Nov 13 - Apr 16

Pipeline Business: PTT’s Provincial Gas Transmission Pipeline Saraburi to Nakhon Ratchasima

25

Provincial Gas Transmission Pipeline Saraburi to Nakhon Ratchasima

26

New Awarded Pipeline Project in 2014:

PTT’s Construction Phrase for Remaining Gas Recovery

Construction Phrase for Remaining Gas Recovery

Owner: PTT Public Company Limited

TRC’s Work Value: THB 53 million

Scope of Work: EPC package and test pipeline system

Work Location: PTT Rayong Gas Separation Plant, Rayong Province

Work Period: Jan 14 - Nov 14

% of Completion as at 30 June 2014: 18%

27

New Awarded Pipeline Project in 2014:PTTGC’s Pipeline Distribution System from CUP-1

Pipeline Distribution System from CUP-1

Owner: PTT Global Chemical Public Company Limited

Work Value: THB 149.39 million

Scope of Work: EPC package of Pipeline Distribution system test from CUP-1 to PPCL#2

Work Location: Hemaraj Rayong Industrial Land,

Rayong Province

Work Period: Mar 14 - Nov 14

% of Completion as at 30 June 2014: 12%

28

New Awarded Pipeline Project in 2014 :

PTT’s Natural Gas Pressure Reduction Station Pipeline

Natural Gas Pressure Reduction Station Pipeline

Owner: PTT Public Company Limited

Work Value: THB 153.83 million

Scope of Work: EPC package of Natural Gas Pressure Reduction Station Pipeline Project

Work Location: Rojana Industrial Park, Prajeenburi Province

Work Period: Apr 14 - Mar 15

% of Completion as at 30 June 2014: 12%

29

New Awarded Pipeline Project in 2014:REPCO’S 8” Offsite Polyol Pipeline

8” Offsite Polyol Pipeline

Owner: Rayong Engineering and Plant Service Company Limited “REPCO”

TRC’s Work Value: THB 41.90 million

Scope of Work: Construction- 8” pipeline from Asia Industrial Estate Office to

Map Ta Phut Industrial Estate

Work Location: Rayong Province

Work Period: Apr 14 - Nov 14

% of Completion as at 30 June 2014: 15%

30

Civil Work Project:

Alucon’s Architectural Construction and Sanitary Works

Architectural Construction and Sanitary Works for New Warehouse, Building 9

(Sriracha) – Phase II

Owner: Alucon Public Company Limited

SKW’s Work Value: THB 93.48 million

Scope of Work: Architectural construction and sanitary works

Work Location: Amphur Sriracha, Chonburi Province

Work Period: Aug 13 - Aug 14

% of Completion as at 31 June 2014: 76%

31

Civil Work Project:

PTT’s Construction of Region VIII Pipeline

Construction of Region VIII Pipeline Operations Center

Owner: PTT Public Company Limited

SKW’s Work Value: THB 206.70 million

Scope of Work: Construction of building and other relevant system including land fill, infrastructure, building structure, architecture, furniture, electrical and communication system, air condition and ventilation system, mechanical and sanitary system

Work Location: Saengchuto Road (323 old way), Kilometer 111, Tumbon Wangkhanai, Tamuang District, Karnjanaburi Province

Work Period: Oct 13 - Oct 14

% of Completion as at 30 June 2014: 56%

Civil Work Project: PTT’s The Energy Laboratory of Applied Building

32

Owner: PTT Public Company Limited

SKW’s Work Value: THB 275 million

Scope of Work: Construction the Energy

Laboratory of Applied Building

PTT Research and Technology

institute (PTT RTI)

Work Location: Wang Noi District,

Pranakorn Sri AyutthayaProvince

Work Period: Dec 13 - Apr 15

% of Completion as at 30 June 2014: 33%

The Energy Laboratory of Applied Building

33

New Awarded Petrochemical Project in 2014:

BBF’s 450 TPD Biodiesel Plant

LOI Signing Date : 6 August 2014

Project Owner : Bangchak Biofuel Company Limited

Scope of Works : EPC package of new Biodiesel Plant

with capacity of 450 tons/day and together with conversion

unit of High Fatty Acid Oil to Biodiesel or feed stock unit at

least capacity 55 tons/day using Crude Palm oil (CPO),

Palm stearin (RPS) and Palm Fatty Acid Distillation (PFAD)

as main raw material

Project Location : Bangpa-in District,

Phra Nakhon Si Ayutthaya Province

Work Value : THB 1,200 million – THB 1,700 million

Construction Period : 18 months

Tentative Contract Signing Date : Within September 2014

450 TPD Biodiesel Plant

Ongoing Project in Oman: Petrogas Rima’s Construction of Flow Lines Satellites Small Fields

Construction of Flow Lines Satellites Small Fields

Owner: Petrogas Rima LLC, Sultanate of Oman

TRC Middle East LLC’s Work Value:

Approximately of THB 407 million

(Extension Contract: 2 Years + 4 Months)

Scope of Work:

Engineering, Procurement and Construction of production flow lines and water injection flow lines connecting the drilling wells together

Work Period: May 12 – Aug 14

% of Completion as at 30 June 2014: 98%

34

Agenda

Company Overview

Ongoing Projects

Future Developments

Key Financial Highlights

Q&A Session

35

List of Potential Projects

Project Name

Approximate

Project Value

(Million Baht)

Estimated

Project Period

A. Natural Gas Pipeline

A.1 Gas Transmission Pipeline 8,000* 2014 – 2018

A.2 SPPs 3,000 2014 – 2018

A.3 Construction Call Off Services n/a 2014 onwards

B. Processing Plant

B.1 Waste to Energy 2,000 2015 – 2016

B.2 CBG for NGV 70 2014 – 2015

B.3 Other Projects 1,000 2014 onwards

C. Infrastructure Government Project - Railway Track 1,000* 2015 – 2016

D. Projects in Oman 700 2014 – 2016

TotalApproximate

15,770

36

* Including Strategic Partners’ Work Portion

Five-year Investment Plan of PTT (Year 2014-2018)

Business 2014 2015 2016 2017 2018 Total %

Natural Gas 29,903 22,826 17,177 30,103 37,839 137,847 42

Oil and International Trading

11,753 9,319 11,925 11,503 10,415 54,915 17

Investment in Joint

Venture and its

wholly owned

investment

38,404 17,563 29,043 18,733 18,709 122,453 38

Head Office and Others

6,888 3,206 765 457 44 11,360 3

Total 86,948 52,914 58,910 60,796 67,007 326,575 100

(Unit : Million Baht)

Source : PTT’s news reported to the Stock Exchange of Thailand on 20 December 2013

37

Natural Gas Pipeline Project: SPPs

Natural Gas Pipeline Project: SPPs

Focusing on expansion of the construction works for natural gas transmission pipeline projects for both IPP and SPP

Targeted Customers: 22 SPP Producers, approved by the Energy Regulatory Commission of Thailand (ERC) for power supply during 2015 - 2021 according to PDP 2012

38

Company

Quantity of Electricity

Power Offering for Sales (MW)

1 Mabyangporn Clean Energy Co., Ltd. 90

2 SSUT Co., Ltd. (Bangpoo Cogeneration Power Plant Block 2 Project) 90

3 SSUT Co., Ltd. (Bangpoo Cogeneration Power Plant Block 1 Project) 90

4 Thai Energy Generator Co., Ltd. 90

5 Ratchaburi World cogeneration Co., Ltd. (Project 1) 90

6 Ratchaburi World cogeneration Co., Ltd. (Project 2) 90

7 Rayong Electric Generating Co., Ltd. 90

8 Bangkadee Clean Energy Co., Ltd. 90

9 Kabin Cogen Co., Ltd. 90

10 Promburi Power Co., Ltd. 90

11 Thai Oil PLC. (Project 1) 90

12 Bowin Clean Energy Co., Ltd. 90

13 Panthong Clean Power Co., Ltd. 90

14 Panthong Clean Energy Co., Ltd. 90

15 Navanakorn Electric Co., Ltd. 90

16 PPPTT Co., Ltd. 90

17 Eastern Seaboard Power Co., Ltd. 90

18 Advance Agro Asia Co., Ltd. 90

19 Thai Oil PLC. (Project 2) 90

20 Siam Pure Rice Co., Ltd. 90

21 Electric & Steam Co., Ltd. 90

22 The Electricity Generating PLC. 90

Total 1,980

Natural Gas Pipeline Project: IPPs

Natural Gas Pipeline Projects: IPPs

According to Energy Regulatory Commission of Thailand (ERC) announced that Gulf Energy Development Co., Ltd. won the third round of IPP bidding to build the natural gas-fired power plant at 5,000 MW to be commissioning in 2021 - 2026, there will be the natural gas distribution pipeline to be constructed before the schedule of commissioning

Targeted Customer: Gulf Energy Development Co., Ltd., a subsidiary of Gulf JP

Project Location: There are 2 locations; Rojana Industrial Park in Rayong Province and Hemaraj Chonburi Industrial Estate in Chonburi Province

39

Compressed Bio-Methane Gas for NGV Project/Alternative Fuel

Type of Project: Investment

Total Investment: THB 74 million

Scope of Work:

Invest in CBG plant to supply PTT NGV Station approximately 9 tons/day (approximately 3,000 tons/year) or industrial alternative fuel

Project location in Surathani Province

Project Status: To establish new subsidiary Company, wholly own by TRC, within the 4th Qtr 2014

Project Schedule:

Construction: 2015

COD: within the 4th Qtr 2015

Operating Period: 15 years

TRC’s Long Term Investment : CBG for NGV/Alternative Fuel

40

41

Potential Project: Railway Track Rehabilitation

Railway Track Rehabilitation

(Government Infrastructure Project)

Owner: State Railway of Thailand

Bidding Project Value: SKW is going to co-operate with strategic partners to bid projects approximately of THB

4,000 - 5,000 million

Scope of Work: Civil works for track strengthening and track rehabilitation

42

43

EPCC of the TTM (T) New Incinerator Project

Owner: Trans Thai-Malaysia (Thailand) Ltd.

Scope of Work: OWNER intends to replace both the existing incinerators by developing the TTM (T) NEW INCINERATOR PROJECT to meet domestic permissible waste gas emission rates whilst sustaining a steady supply of gas that meets the sales specification Project location at Prachuap Khiri Khan Province or Surathani Province

Location: Amphur Chana, Songkhla Province

Potential Project: EPCC of the TTM (T) New Incinerator Project

Agenda

Company Overview

Ongoing Projects

Future Developments

Key Financial Highlights

Q&A Session

44

45

The 2nd Qtr 2014 Performance

(Unit : Million Baht)

The 1st Qtr The 2nd Qtr The 2nd Qtr

2014 2014 2013 Amount Percentage

Construction service income 726.46 686.13 534.14 151.99 28.45

Interest and other income 1.79 10.35 10.21 0.14 1.39

Total revenues 728.25 696.48 544.35 152.13 27.95

Cost of construction service -607.91 -542.48 -479.06 63.42 13.24

Gross profit 118.55 143.65 55.08 88.57 160.79

Administrative expenses -73.74 -83.75 -45.40 38.35 84.47

Profit before share of loss from investment in joint venture, finance cost and income tax expenses

46.61 70.25 19.89 50.36 253.16

Share of loss from investment in joint venture -1.77 -0.53 0.00 0.53 N/A

Finance cost -1.43 -1.01 -0.91 0.10 10.83

Income tax expenses -10.01 -16.70 -5.61 11.09 197.72

Profit for the period 33.40 52.01 13.37 38.64 289.06

Non-controlling interests of the subsidiaries 1.56 1.72 3.21 -1.50 -46.58

Profit attribute to equity holders of the Company 34.95 53.73 16.58 37.15 224.03

Earnings per Share (Baht) 0.04 0.07 0.02

Gross Profit Margin 16.32% 20.94% 10.31%

Net Profit Margin 4.80% 7.71% 3.05%

Debt to Equity (Time(s)) 0.73 0.80 1.36

Change

(2nd Qtr 2014-2nd Qtr 2013)

46

(Unit : Million Baht)

The 6-Month The 6-Month

2014 2013 Amount Percentage

Construction services income 1,412.59 1,174.47 238.12 20.27

Interest and other income 12.14 12.27 -0.13 -1.08

Total revenues 1,424.73 1,186.74 237.98 20.05

Cost of construction services -1,150.39 -1,050.68 99.71 9.49

Gross profit 262.20 123.79 138.41 111.81

Administrative expenses -157.48 -99.88 57.61 57.68

Profit before share of loss from investment in joint venture, finance cost and income tax expenses

116.86 36.19 80.67 222.90

Share of loss from investments in joint venture -2.30 0.00 2.30 N/A

Finance cost -2.44 -2.22 0.22 10.09

Income tax expenses -26.71 -14.56 12.15 83.48

Profit for the period 85.41 19.41 65.99 339.94

Non-controlling interests of the subsidiaries 3.27 7.11 -3.84 -53.96

Profit attribute to equity holders of the Company 88.68 26.52 62.16 234.36

Earnings per Share (Baht) 0.11 0.03

Gross Profit Margin 18.56% 10.54%

Net Profit Margin 6.22% 2.23%

Change

The 6-Month 2014 Performance

47

The 6-Month 2014 Performance

(Unit: Million Baht)

TRC SKW TRCM TRCECommon

Size

(Oman) (Oman)

Construction services income 990.56 284.59 108.07 29.37 1,412.59 99.15%

Other revenue

Interest income 1.42 0.75 0.86 - 0.85 0.06%

Other income 9.57 1.33 0.07 0.45 11.29 0.79%

Total revenue 1,001.54 286.67 109.00 29.81 1,424.73 100.00%

Cost of services -778.91 -257.24 -108.61 -5.75 -1,150.39 -80.74%

Gross profit 211.65 27.35 -0.53 23.62 262.20 18.40%

SG&A, share of loss from investment in JV and finance cost -114.38 -18.91 -15.13 -15.32 -162.23 -11.39%

Earning before tax 108.25 10.52 -14.74 8.75 112.11 7.87%

Tax -24.25 -2.46 - - -26.71 -1.87%

Net profit before minority interest 84.00 8.06 -14.74 8.75 85.41 5.99%

Less: Minority interest 3.27 0.23%

Net profit for the parent company 88.68 6.22%

Gross Profit 21.37% 9.61% -0.49% 80.42% 18.56%

Net Profit Margin 8.39% 2.81% -13.52% 29.33% 6.22%

* The performance of another three subsidiaries consisting of TRC International Ltd.(Hong Kong), TRC Investment Ltd.(Mauritius) and SKK

Joint Venture Co., Ltd. (Thailand) was not presented due to their insignificant operating result.

TRC

Consol

48

1,519

2,262

4,344

2,558

1,186

1,424

4,000 - 5,000

-

1,000

2,000

3,000

4,000

5,000

2010 2011 2012 2013 6-M 2013 6-M 2014 2014(F)

(MB)

Total Revenue

Services Income Break-Down

Pipeline58.3%

Process &Plant40.5%

Civil 0.6%

OtherServices

0.6%

Pipeline64.2%

Process & Plant28.3%

Civil7.4%

Other Services

0.1%

2011

2013

2012

49

Pipeline79.2%

Process & Plant9.8%

Civil9.0%

Other Services2.1%

Pipeline79.3%

Process & Plant 0.5%

Civil 20.1%

Other Services

0.1%

6-M 2014

50

Net Profit

183

149

228

126

27

89

-

50

100

150

200

250

6-M 2013 6-M 2014

(MB)

Gross Profit & Net Profit Margin

51

25.92%

14.64%

10.78%

14.96%

10.54%

18.56%

12.00%

6.59%5.26% 4.94%

2.23%

6.22%

0.00%

10.00%

20.00%

30.00%

2010 2011 2012 2013 6-M 2013 6-M 2014

Gross Profit Margin Net Profit Margin

A high gross margin in 2010 was from the reversal of provision for penalties for Bio Diesel Project of 43 MB

because the final penalties was less than provision which set up in 2009. Such reversal was recorded as a deduction from cost of services. If such reversal was excluded, the gross margin will be 22.6%.

A high net profit margin in 2010 was from gain from sale of investment in Ratcha Ploen’s shares and reversal of impairment in Ratcha Ploen total of 59 MB. If this extraordinary item was excluded, the net profit margin will be 8.8%.

52

1.50 1.50

2.76 (CONS)

0.60

1.98

1.53

0.71 0.80

0.00

0.50

1.00

1.50

2.00

2.50

3.00

2010 2011 2012 2013 30-Jun-14

Industry Group TRC and its subsidiaries

(PROPCON, CONMAT, PROP)

(times)

Debt to Equity Ratio

53

Paid-up Capital

120.00150.00

256.67

329.99 330.67 333.56 336.59

IPO 30.00

ShareSwapWithSKW

106.67

StockDividend

73.33

ESOP-W10.67

ESOP-W13.56

ESOP-W16.59

0

50

100

150

200

250

300

350

400

450

2005 2007 2008 2010 2011 2012 June 2013

150.00

256.67

329.99 330.67 333.56 336.59

Stock

Dividend

56.07

RO 15.63

408.29

(MB)

2013

409.52

3 July 2014

1.23 ESOP-W2

408.29

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

16.00

2/1/2013 2/3/2013 2/5/2013 2/7/2013 2/9/2013 2/11/2013 2/1/2014 2/3/2014 2/5/2014 2/7/2014 54

Share Price

(THB/share)

TRC Share Price

Moving to the SET:

THB 14.30, 23 Apr 13

Highest Price:

THB 15.00, 30 Apr 13

Par Split to

0.50 Bt./Share:

THB 7.50, 2 May 13

Stock Dividend (6:1) 112.15

million shares: THB 5.30,

29 May 13

RO (20:1) 31.27 million shares: THB 3.12, 2 Jul 13

THB 4.32,

3 Sep14

TRC’s Mkt. Cap. (2 Sep 2014)

= THB 3,391 million

1,186

607

1,092

2,835 2,970 3,347

2,808 315

32

1,352

310

599

319

627

359

265

135

53

15

1,703

-

1,000

2,000

3,000

4,000

5,000

2008 2009 2010 2011 2012 2013 6-M 2014

TRC SKW Oman Subsidiaries

New Awarded Projects in Jul - Aug 14

1,5011,266

1,451

4,452

3,415

3,998

4,345 - 4,845

TRC Group Backlog

(MB)

1,203-1,703

55

New Awarded Projects

3,142

30 Jun 14 + New Awarded Projects

56

30 June 2014 Backlog

Backlog by Scope of Work

Scope of WorkNo. of

Projects

Remaining Value

(MB)

Pipeline 9 2,823

Civil 5 319

Total 14 3,142 Pipeline

89.85%

Civil

10.15%

Backlog by Company

Scope of WorkNo. of

Projects

Remaining Value

(MB)

TRC 8 2,808

SKW 5 319

Oman

Subsidiaries1 15

Total 14 3,142

Oman

0.48%

TRC

89.37%

SKW

10.15%

Project Name

Type

of

Works

Project Owner/

Client

Work Value

(MB)

Uncompleted

Work Value

(MB)

Project Period

1. Provincial Gas Transmission Pipeline to

Nakhon Ratchasima

(The Project value 4,433.65 MB and USD 103.45 Million)

E, P, C PTT Public Company Limited 1,639.26 1,639.26 Nov 13 Apr 16

2. Navanakorn-Rangsit Interconnecting Gas Pipeline

Project

(The Project value 834.01 MB and USD 7.55 Million)

E, P, C PTT Public Company Limited 1,077.90 626.18 Jul 13 Apr 15

3. GUT Gas Pipeline Project E, P, C Gulf JP UT Co., Ltd. 1,589.75 197.06 Aug 12 Aug 14

4. Natural Gas Pressure Reduction Station Pipeline

Project

E, P, C PTT Public Company Limited 153.83 135.34 Apr 14 Mar 15

5. Design, Construction, Installation and Test Works for

the Pipeline Distribution System from CUP-1 to PPCL # 2

E, P, C PTT Global Chemical Public

Company Limited149.39 131.46 Mar 14 Nov 14

6. Construction Phase for Remaining GAS E, P, C PTT Public Company Limited 53.00 43.30 Jan 14 Nov 14

7. 8” Offsite Polyol Pipeline Project C Rayong Engineering and Plant

Service Co., Ltd.41.90 35.62 Apr 14 Nov 14

8. Co2 Membrance GSP#6 E, P, C PTT Public Company Limited 65.63 0.21 Oct 13 Jun 14

Total 8 Projects 4,770.66 2,808.43

TRC’s Backlog as at 30 June 2014

57

SKW’s Backlog as at 30 June 2014

Project Name

Type

of

Works

Project Owner/

Client

Work Value

(MB)

Uncompleted

Work Value

(MB)Project Period

1. Construction the Energy Laboratory of Applied

Building, Amphur Wangnoi, Pra Nakorn Sri Ayutthaya

Province

E, P, C PTT Public Company Limited 275.00 185.02 Dec 13 Apr 15

2. Construction of Region VIII Pipeline Operations Center,

AmphurThamong, Karnjanaburi Province

E, P, C PTT Public Company Limited 221.60 106.82 Oct 13 Oct 14

3. Architectural Construction and Sanitary Works for New

Warehouse, Building 9 Project (Sriracha) - Phase II,

Tambol Bo Win, Amphur Sriracha, Chonburi Province

E, P, C Alucon Public Company Limited 93.48 22.44 Aug 13 Aug 14

4. Water Treatment Plant for Wangnoi Power Plant,

Ayudhaya Province

E, P, C Electricity Authority of Thailand 20.36 3.91 Sep 11 Apr 14

5. Electrical System Works from Saraburi Main Line to PTT

Fire Safety and Rescue Training Building

E, P, C PTT Public Company Limited 0.44 0.44 Feb 14 Apr 14

Total 5 Projects 610.88 318.63

58

New Awarded Projects of TRC in Aug 2014

59

Project Name

Type

of

Works

Project Owner/

Client

Work Value

(MB)

Uncompleted

Work Value

(MB)

Project Period

1. Repair Mechanical Seal and Run Instrument P, C IRPC Public Company Limited 2.65 2.65 Jun 14 Dec 14

2. 450 TPD Biodiesel Plant E, P, C Bangchak Biofuel Company

Limited

1,700 1,700 Sep 14

Total 2 Projects 1,702.65 1,702.65

Backlog Conclusion

TRC GroupNo. of

ProjectsRemaining

Work Value (MB)

TRC Construction Public Company Limited 8 2,808

Sahakarn Wisavakorn Co., Ltd. 5 319

TRC Middle East LLC, Sultanate of Oman 1 15

Total Backlog as at 30 June 2014 14 3,142

60

BBF’s Biodiesel Plant 1 1,200 – 1,700

IRPC’s Repair Mechanical Seal and Run Instrument

1 3

Total Backlog 16 4,345 – 4,845

New Awarded Projects in Jul – Aug 2014:

Agenda

Company Overview

Ongoing Projects

Future Developments

Key Financial Highlights

Q&A Session

61

62