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Outline ofFinancial Resultsfor Fiscal Year 2021
April 1, 2021 – March 31, 2022

May 12, 2022
JGC HOLDINGS CORPORATION

My name is Taguchi, and I am General Manager of the Group Finance andAccounting Department.
I will be giving you an outline of financial results for the Fiscal Year 2021, endedin March 2022.

CONTENTS
Highlights(Appendix)

Income Statement

Forecasts for Fiscal Year 2022 by Segment

Segment Information



Shareholders Return PolicyBalance SheetsNet sales & New Contracts by RegionCash Flows

Change in Disclosure InformationOutline of Contracts



Historical data chartForecasts for Fiscal Year 20222

Highlights• In FY2021, profits exceeded forecasts due to solid execution and completionof EPC projects, strong performance in the Functional Materials Manufacturing
segment, and benefits from the JPY depreciation• Cost impact anticipated from the Ukraine crisis have been factored inproject budgets• Sales and profits are expected to increase in FY2022© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health

3I will begin with the highlights.
In the fiscal year 2021, EPC projects made steady progress both in Japan andoverseas, and large-scale projects were completed. The Functional Materials
Manufacturing segment was also a strong performer. As a result, profit figures
surpassed earnings forecasts at all stages.
There are concerns that the conflict in Ukraine will affect procurement activities inparticular for long-term, large-scale projects. The risk of cost impact fromescalation of material and equipment before commitment is reflected in theconcerned project budget to the extent that we can predict these costs at thispoint.
We expect higher sales and profit in Fiscal Year 2022.

Income Statement

FY2020

FY2021

Difference

FY2021
Forecast【Unit: Billions of Yen】

Achievement
RateNet sales

433.9

428.4

△ 5.5

470.091%

Gross profit

43.7

45.3

+1.5

42.0

108%

Profit ratio

10.1%

10.6%

+0.5pt8.9%-Operating profit

22.820.6△ 2.1

20.0103%

Ordinary profit

25.5

30.0

+4.5

24.0125%

Profit/loss attributable to5.1△ 35.5△ 40.6△ 42.0-owners of parent© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health4

We now move to the Income Statement.
Net sales fell 5.5 billion yen over the previous fiscal year to 428.4 billion yen,undercutting the full-year forecast by about 40 billion yen.
Gross profit rose 1.5 billion yen to 45.3 billion yen.
We had anticipated the risk that the conflict in Ukraine would have an impact on
project costs in the fourth quarter, but in addition to the impact of the weak yen,we posted additional income due to the elimination of construction risks in several
projects in their last stages of construction, and as result, gross profit surpassed
full-year forecasts by 3.3 billion yen.
Operating profit fell 2.1 billion yen over the previous year to 20.6 billion yen.
Selling, general and administrative expenses (SG&A) were up 3.7 billion yen overthe previous year, which lowered profit compared to the previous year. This
increase in SG&A expenses can be attributed to the posting of 3.3 billion yen inprovision of allowance for doubtful accounts in the fourth quarter and otherfactors. Operating profit came in slightly above the full-year forecast since therise in gross profit absorbed the increase in SG&A expenses.
Ordinary income rose 4.5 billion yen over the previous year to 30.0 billion yen.

This was due to an increase in non-operating foreign exchange gains, dividends
received and the share of profit of entities accounted for using the equity method.
This was 6.0 billion yen higher than the full-year forecast.
Net losses attributable to owners of the parent totaled 35.5 billion yen. This was a
6.5 billion yen improvement over the full-year forecast.

Segment Information【Unit: Billions of Yen】

FY2020

Manufacturing
Others (Includingadjustments)

Difference

Net sales

388.5

377.9

△ 10.5△ 3%

Segment profit

16.8

13.2

△ 3.6

△ 21%

Net sales

40.7

44.2+3.5+9%

Segment profit

5.8

7.2+1.4+25%

Net sales

4.6

6.1+1.4+32%

Segment profit

0.2

0.1

△ 0.0

△ 29%

Net sales

433.9

428.4

△ 5.5

△ 1%

Segment profit

22.8

20.6

△ 2.1

△ 10%

Total Engineering

Functional MaterialsFY2021

Total (Consolidated)© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health5

Next is the segment information.
In the Total Engineering segment, sales and profit were down over the previous
fiscal year. Net sales fell 10.5 billion yen to 377.9 billion yen. In Japan, several
long-term, large-scale projects started this fiscal year and construction was in theearly stages, so the posting of sales was limited. Overseas, progress was madeon large-scale projects, but fell short of initial expectations. Even though thebenefit of weak yen and the posting of additional profit led to an increase in grossprofit, segment profit fell 3.6 billion yen over the previous year to 13.2 billion yen
due to higher SG&A expenses.
In the Functional Materials Manufacturing segment, sales and income were up
over the previous fiscal year.
Net sales increased 3.5 billion yen to 44.2 billion yen and segment profit rose 1.4
billion yen to 7.2 billion yen.
Sales of petroleum refining catalysts recovered, and the sale of surplus inventoryof materials led to one-off income. In fine chemicals, demand was strong,particularly for abrasives, and some area of facilities utilized their fullmanufacturing capacity. In fine ceramics, orders of semiconductor manufacturing
equipment-related parts increased.
Results for others are as shown here.

Balance Sheets【Unit: Billions of Yen】

As of March 31,
2021

As of March 31,
2022

Difference

Current assets

548.3

533.3

△ 15.0Non-current assets

154.1

160.9

+6.7

Total assets

702.5

694.2

△ 8.2

As of March 31,
2021

As of March 31,
2022

Difference

Current liabilities

197.0

253.8

+56.7

Non-current liabilities

87.852.7△ 35.0Total net assets

417.6

387.6

△ 29.9

197.0

239.6

+42.5

Off Balance Sheet JV CashJGC Portion© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health

6Next are the consolidated balance sheets.
Total assets were nearly unchanged since the start of the fiscal year, at 694.2
billion yen.
Current liabilities increased 56.7 billion to 253.8 billion yen. The increase was dueto the short-term transfer of corporate bonds and advance payments on projectsin Japan.
Non-current liabilities decreased due to the transfer of corporate bonds.
Net assets decreased due to the posting of a final loss, and totaled 387.6 billionyen. The shareholders’ equity ratio was 55.8%.
The balance of our share of cash in joint ventures, which is not posted on thebalance sheet, was 239.6 billion yen. This primarily consisted of joint venture forthe LNG project in Canada.

Cash Flows【Unit: Billions of Yen】

FY2020Cash flows
from operating activities
Cash flows
from investing activities
Cash flows
from financing activities
Net increase (decrease)in cash and cash equivalentsCash and cash equivalents
at end of period© 2021 JGC HOLDINGS CORPORATION

FY2021Difference

12.4

19.3+6.8△ 13.5△ 7.6+5.8

0.1

△ 0.1

△ 0.3

4.4

19.4

+14.9

268.2

288.0

+19.7

Enhancing planetary health

7Now we move on to the cash flows.
Cash flows from operating activities were 19.3 billion yen. This positive cash flow
is primarily because, although a bottom-line loss was posted this fiscal year, theextraordinary loss that caused the loss did not result in cash outflows.
Cash flows used in investing activities were 7.6 billion yen. There were nosignificant investments.
The balance of cash and cash equivalents at the end of the fiscal year was up
19.7 billion yen, including foreign exchange conversion, to 288.0 billion yen.

Outline of Contractsi) New Contracts【Unit: Billions of Yen】

FY2020

FY2021

FY2021
Forecast

Overseas

500.9

145.0

340.0

Domestic

182.1

170.8

160.0

Total

683.0

315.9

500.0

FY2021
Major New Contracts

Pharmaceutical Plant (Japan)
Dew Point Control Unit(Saudi Arabia)
LNG Terminal Facilities(Taiwan)© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health

8Next, I will address new contracts.
We had 145.0 billion yen in new contracts overseas and 170.8 billion yen inJapan in this fiscal year, for a total of 315.9 billion yen.
We had expected decisions on major projects at the end of the fiscal year, but theanticipated projects were delayed due to the impact of the conflict in Ukraine andother factors, and as a result, orders fell short of the 500 billion yen target.

ii) Outstanding Contracts
By Business Area
FY2021

By Region【Unit: Billions of Yen】

0%
1%7%12%【Unit: Billions of Yen】

FY2021

21%

29%
42%4%

1,215.9

1,215.9

6%

3%
34%

41%

Energy Transiton
Oil and gas

■

LNG■

Chemical■Clean energy & Others■Healthcare & Life sciences■Industrial & Urban infrastructure & Others■Other businesses

FY2021
Major
OutstandingContracts

256.1
79.2
500.1
32.5
347.7

■Japan■

513.9
417.8
44.9
148.0
80.6
2.48.0■Asia■Middle East
■Africa■Americas & Others

Over 100 Billion Yen

Over 50 Billion Yen

Over 30 Billion Yen

LNG（Canada）
Oil Refinery Modernization（Iraq）

Biomass Power Generation (Japan)
Dew Point Control Unit(Saudi Arabia)

Gas Separation Plant (Saudi Arabia)
FLNG (Mozambique)
Pharmaceutical Plant (Japan)
LNG Terminal Facilities(Taiwan)© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health

9Next, the order backlog as of the end of March 2022 was 1,215.9 billion yen.
By business area, orders related to oil and gas accounted for 42% and thoserelated to LNG accounted for 34%. By region, the orders backlog was 41% for
the Middle East, 29% for the Americas and 21% for Japan.
The main projects contributing to the orders backlog are the LNG project inCanada, a refinery upgrading project in Iraq, a biomass power generation projectin Japan, and Dew Point Control Unit in Saudi Arabia.

Forecasts for Fiscal Year 2022

【Unit: Billions of Yen】

FY2021

FY2022

ActualForecast

New contracts

315.9

840.0

Net sales

428.4

600.0

Gross profit

45.3

54.0

Profit ratio

10.6%

9.0%

Operating profit

20.6

26.0

Ordinary profit

30.0

30.0

△ 35.520.0

Annual dividends per share¥15.00¥24.00

Forecasts based on (\/US$)-¥123.00

Profit/loss attributable toowners of parent© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health10

Next I will discuss the forecasts for Fiscal Year 2022.
We expect 840.0 billion yen in orders. We forecast an increase in net sales overthe previous fiscal year to 600 billion yen due to progress with large projects in
Canada and Iraq and projects in Japan.
We expect gross profit to be 54 billion yen due to the elimination of non-operating
losses and contributions from new projects.
We forecast a 9.0% profit margin as we have reflected the risk that higher costs
due to the Ukraine conflict will push down on project margin and expect the sharp
rise in raw material and fuel prices to have a downward impact on the Functional
Materials Manufacturing business.
We forecast 26 billion yen in operating profit.
We expect ordinary income to be unchanged over the previous fiscal year at 30billion yen.
Profit/loss attributable to owners of parent will return to positive at 20 billion yen.
The dividend payout ratio will be 30%, and we expect to increase dividends to 24
yen per share.

An exchange rate of 123 yen to US$1 has been used in these forecasts.
This concludes my overview of our financial results.

Appendix© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health11Reference（Forecasts for Fiscal Year 2022 by Segment）

Manufacturing

OthersAdjustments

Total (Consolidated)

FY2022

Actual *Forecast【Unit: Billions of Yen】

Difference

Net sales

377.9

547.0+169.0+45%

Segment profit

17.1

26.1

+8.9+53%

Net sales

44.2

45.0+0.7+2%

Segment profit

7.2

5.5

△ 1.7

△ 25%

Net sales

6.1

8.0+1.8+29%

Segment profit

1.01.4+0.3+35%----

Segment profit△ 4.7△ 7.0△ 2.2-Net sales

428.4

600.0

+171.5+40%

Segment profit

20.626.0+5.3+26%

Total Engineering

Functional Materials

FY2021

Net sales* Holding company operating expenses were previously included in the Total Engineering segment. However,these expenses will be included in Adjustments starting FY2022 due to a change in the Group management
policy. Based on this change, information on segment profits for Total Engineering and Adjustments in FY2021
have been adjusted from the GAAP disclosure content.

© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health12Reference（Shareholders Return Policy）• Aiming for a consolidated payout ratio of 30% per year while maintaining aminimum annual dividend per share of 15 yen• Share buybacks will be considered where appropriate in line with our businessperformance forecasts and free cash flow situation
Dividend per share【Unit: Yen】

24

© 2021 JGC HOLDINGS CORPORATION

1215

FY2020
ActualFY2021
Planminimum annual dividend
per share: 15 yen

FY2022ForecastFY2025
Enhancing planetary health13

Reference（Net sales & New Contracts by Region）
New contracts

Net sales【Unit: Billions of Yen】

FY2020【Unit: Billions of Yen】

FY2021

FY2020

FY2021

Japan

173.9(40.1%)

137.4(32.1%)

Japan

182.1(26.7%)

170.8(54.1%)

Asia

53.3(12.3%)

40.3(9.4%)

Asia

9.9(1.4%)

67.9(21.5%)

Middle East

31.5(7.3%)

50.2(11.7%)

Middle East

452.1(66.2%)

63.7(20.2%)

Africa48.0(11.1%)

60.1(14.0%)

Africa17.3(2.5%)

2.0(0.6%)

127.1(29.2%)

140.2(32.8%)

21.5(3.2%)

11.3(3.6%)

433.9(100.0%)428.4(100.0%)

683.0(100.0%)

315.9(100.0%)Americas& Others
Total© 2021 JGC HOLDINGS CORPORATION

Americas& Others
Total

Enhancing planetary health14

Reference（Change in Disclosure Information）
Old disclosure categories
Total Engineering

Disclosure categories in/after
FY 2021 1Q
Total Engineering
Energy transition

Oil and gas development
Petroleum refining
LNG
ChemicalPower generation, nuclear power
and new energy
Living and general production facility
Environmental protection, socialdevelopment and IT
OthersOil and gas
LNG
ChemicalClean energy
OthersBusiness areas under BSP 2025
Energy transition
Healthcare & Life sciences
Industrial & Urban infrastructure
Circular economy
High-performance functionalmaterials

Healthcare & Life sciences

Healthcare & Life sciences
Industrial & Urban infrastructure

Industrial & Urban infrastructure
Circular economy and others

OthersHigh-performance Functional Materials

Functional Materials Manufacturing
Business

Functional Materials Manufacturing
Business

Other’s Business

Other Businesses© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health15

Reference（Historical data chart）【Unit: Billions of Yen】

Net sales

Gross profit

Operating profit
54.0

619.2

600.0
480.8

FY2018FY2019

433.9

428.4

FY2020

FY2021

FY2022
Forecast

30.022.3

FY201843.3

43.7

FY2019FY202026.0

FY2021

23.2

FY2022
Forecast

FY2018

Profit/loss attributable toowners of parent

Ordinary profit
32.3

44.9

45.3

30.0

24.0

25.5

20.0
4.1

20.2

FY201922.8

FY202020.6

FY2021

FY2022
Forecast

New Contracts
935.4

840.0

5.1

683.0

315.9

189.6

△ 35.5FY2018FY2019FY2020© 2021 JGC HOLDINGS CORPORATION

FY2021

FY2022
Forecast

FY2018FY2019FY2020

FY2021

FY2022
Forecast

FY2018FY2019FY2020

FY2021

FY2022
Forecast

Enhancing planetary health16Cautionary Statement
This presentation may contain forward-looking statements that reflect JGC’s plans and expectations.
Such statements are based on currently available information and current assumptions of future
events which may not prove to be accurate. Such statements are also subject to various risks anduncertainties that could cause actual results to differ materially from those forward-lookingstatements.
JGC Holdings Corporation undertakes no obligation to update any forward-looking statements after
the date of this presentation. These potential risks and uncertainties include, but are not limited to:•changes in general economic conditions, including foreign currency exchange rates, interest rates
and other factors that could affect our profitability•changes in government regulations or tax laws in jurisdictions where we conduct business

For questions concerning this material, please contact:
Group Strategic Planning &Management Development Department
Corporate Communication GroupJGC Holdings Corporation
Tel: 81-45-682-8026 Fax: 81-45-682-1112
Email: ir@jgc.com© 2021 JGC HOLDINGS CORPORATION

Enhancing planetary health17