Ratch : Analyst Meeting Analyst Meeting Q1/2024

Analyst Meeting 1Q2024

27 May 2024

Agenda

1 RATCH Highlights

2 Project Progress

3 Group Performance

4 Financial Performance

5 Appendix

RATCH Highlights

Sustainability Strategy

Vision

To become a leading value-oriented energy and infrastructure company in Asia Pacific

Values for Environmental

Values for Society

Values for Governance

	•	Community	•	Business ethics
Climate Change		Engagement	•	Anti-corruption
	•	Human Rights		(CAC)

4

Business Strategy

Renewable Energy Leadership for Global Sustainability

• Development of c. 3 GW of renewable capacity since year 2011
• Scale up carbon offsetting and trading by the implementation of REC and natural capture from forest
• Seek collaboration with stakeholders in promoting emission reduction and resource recycling
• Consider rewarding employees at all levels for their climate actions

Energy Management by AI solution

• Plan to apply AI to manage energy storage systems and smart grids to maximize renewable production
• Leverage data analytics to provide energy & infrastructure solutions for stakeholders

Diversify Portfolio from Energy Security to Returns

• Invested and progressed in project development in Thailand and overseas countries.
• Explored next generation technologies as a major leap in decarbonization efforts.

Investment (MTHB)	Fuel Type (MW)
110, 1.0%
	599, 0.5%
9,580, 7.6%		364.53, 3.4%	11.83, 0.1%
		844.93, 7.8%	Gas
		Power Generation
		Infrastructure			Coal
		1,643.35, 15.2%		Wind
		Power Related
	125,834	10,817.25	Hydro
		Solar
					Battery
			1,629.43, 15.1%		Biomass
		115,655, 91.9%	6,213.18, 57.4%

2023 Revenue by Location (MTHB)

1,471, 2.9% 1,265, 2.5%	(224), (0.4%)
3,410, 6.7%			THAI
		Australia
			Lao
7,791, 15.4%	50,648	Indonesia
Vietnam

Others

36,935, 72.9%

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Sustainability Strategy

2023

Implementation

• Set up ESG Team and report scope 3 GHG emissions
• Achieved and complied with global index / standards i.e. IFRS sustainability disclosures standards
• Continuously improved ESG score

2024

Policy & Process

• Integrate ESG considerations into the business value chain
• Build organizational capability and visible ESG momentum
• Continuously disclose ESG achievements through sustainability reports and website
• Analyze science-based target according to ESG implementation into company's operations

2025

Culture

• Embed a cultural shift to maximize assets/personnel performance through ESG- focused implementation
• Maintain or improve ESG global ratings

2026

Commitments

• Build up internal capability for organization-wide sustainment
• Improve ESG rating and explore new commitments in related areas

ESG

2030 Goals

Progress in 2023

Environment

Social

Governance

Climate Change:

• Reduce emission intensity by 30%
• Increase renewable capacity to 30%
• Achieve carbon neutrality by 2050

Community Engagement:

Implement CSR projects that create positive impacts on community and society at large and support SDGs

Human Rights:

Implement Human Rights Due Diligence to control and prevent violations

• Assess of human rights risks on all rights holders every 3 years
• Assessment of human rights impacts on rights holders every 3 years
• Zero human rights violation

Business ethics:

• Operate and foster with international ethical standards to robust compliance programs
• Promote sustainable development mindset

Anti-corruption (CAC):

• Maintain good corporate governance principles in line with the criteria of CAC
• Achieve the highest standards on transparent ESG disclosure

• Study the process to prepare RATCH and controlled entities' Scope 3 inventory and complete GHG inventory under Scope 1, 2 and 3
• Renewable capacity increased to 27.41%
• Develop the Environmental and Social Management System (ESMS)
• Design Group's CSR projects and target in line with SDGs
• Study the concept and evaluation method of Social Return on Investment
  (SROI)
• Conduct Human Rights Impact Assessment (HRIA) on employees
• Review Human Rights Risk Register and verify human rights risk issues based on the results of HRIA on employees
• Build a strong, centralized corporate compliance program and culture of ethics and integrity
• Comply with all relevant laws & regulations relating to anti-corruption and frauds, including the alignment with CG Codes
• Be recognized as a Certified member of CAC and maintain Corporate
  Governance Report of Thai Listed Companies at the "Excellent" (Five-Star) Level.
• Set up various BoD committee meetings to encourage independent BoD discussion
• Maintain oversight and strengthen risk management
• Invest in the development of cybersecurity and information system

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Sustainability Performance

Highlights 2023

Environmental Dimension

GHG emission reduction	Water reuse
39,728 tCO2e	7%
Hazardous wastes not
Volume of saved energy	deposited in landfills
70,151 MWh	215 tons
Certified carbon credit	Forest areas for
4,967 tCO2e	reforestation and
Renewable energy	carbon sequestration
45,047.25 rai
consumption
16,600 MWh	Ratio of operating
Reduction in raw water	areas covered
in biodiversity
consumption:	assessment
2.81 million cubic meters	100 %

Environmental complaints and penalties on legal noncompliance None

Economic and Governance Dimension

Revenue from renewable electricity

Baht 7,036 million/13.89% of total revenue

Investment in renewable energy

Baht 137 million/5.37% of total investment in 2023

Investment in non-power business and innovation

Baht 835 million/32.77% of total investment in 2023

Revenue from non-power business and innovation

Baht 2,373 million/4.69% of total revenue

Significant suppliers under ESG risk assessment 100% of all significant suppliers

No. of incidence on personal data breach and confidential information leak

None

Breach of the Code of Conduct and complaint on fraud and corruption

None

Social Dimension

Social investment

Baht 171.98 million

Human Rights Due Diligence for RATCH and entities under the scope of reporting

100%

Community benefiting from the Love the Forests and the Community Project

16 villages and 4,775 households

Forest conservation prize money

Baht 1.45 million

No. of students and teachers receiving

skill training under the Education for Career Empowerment Project

83 teachers / 1,035 students

Violation of human rights

None

Lost-Time Injury Frequency Rate

0.11 Per 200,000 Hours worked

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Business Highlights

Signing of New Power Purchase Agreements for 2 Wind Farms in Australia on 28 March 2024

Starfish Hill	Selling 100% of
generated capacity to

(33 MW)

Selling 60% of

generated capacity to

(Remain unchanged)

ZEN Energy Retail Pty Ltd.

(An electricity

retailer)

Iberdrola

Australia

Energy Markets

Pty Ltd.*

Previously, selling 100% generated capacity to National Electricity Market (NEM)

New PPA Period with ZEN Energy

Retail Pty Ltd.: 10 years, starting on 1 April 2024

Remaining PPA Period: 7 years (10-year PPA Period, starting on 7 April 2021)

Collector

(226.80 MW)

19.4%

(Remain unchanged)

20.6%

ALDI Foods

Pty Ltd.

ZEN Energy Retail Pty Ltd.

(An electricity

retailer)

Remaining PPA Period: 7 years (10-year PPA Period, starting on 7 April 2021)

Previously, selling 20.6% generated capacity to National Electricity Market (NEM)

New PPA Period with ZEN Energy

Retail Pty Ltd.: 10 years, starting

Remark: * Formerly known as Infigen Energy Markets Pty Ltd.

on 1 April 2024	8

Business Highlights

Successfully Closing in Share Purchasing to Invest in Paiton Project in Indonesia on 30 April 2024

	Paiton 7/8	Paiton 3
Gross	1,230 MW		815 MW
Capacity	(Operational)	(Operational)
Location	Probolinggo, East	Java
	Offtaker : PLN with	a letter
	of support from MoF
PPA	43 years	30 years
	(ending in Mar	(ending in Mar
	2042; 18	2042; 19
	years	years
	remaining)	remaining)
Transmission	Power generated is
connected to PLN's 500kV
	bulk power network

741.52 MW

(36.26%)

RHIS has paid

USD 590.67 Million for

• 36.26% in PT Paiton Energy
• 36.26% in Minejesa Capital B.V.
• 65% in IPM Asia Pte. Ltd.

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RATCH's Power Plant Portfolio

As of April 2024

Renewable			Conventional
Energy
10,817.25		72.5%
27.5%
	7,842.61
2,974.64	MW
			751.20 MW
		Laos	669.10 MW
		1,420.30 MW Total
			(13.13%)

Thailand	5,364.83 MW
(50.61%)
	109.47 MW

5,474.30 MW Total

Indonesia	886.67 MW
(9.33%)
	123.05 MW

1,009.72 MW Total

Vietnam	136.71 MW
(2.46%)
	129.48 MW

266.19 MW Total

Japan	2.02 MW
	(0.02%)
The Philippines	549.83 MW
		(5.08%)
Australia		703.20 MW
1,391.69 MW

2,094.89 MW Total

(19.37%)

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