Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en

June 27, 2024

The presentation was conducted in Japanese.

IR, PR & Sustainability Advanced Section

This document is a translation/summary for

Corporate Services Department

reference only.

Chiyoda Corporation
Summary of a Q&A session following the Presentation ofthe Financial Results for Fiscal Year Ended March 31, 2024

The following is a summary of a Q&A session following the presentation (online conference) of Chiyoda
Corporation’s (Chiyoda) financial results for the fiscal year ended March 31, 2024, released on June 26,2024.
NoQuestion

1

Golden Pass LNG
What are the impacts relatedAnswer•

We estimated the costs to be incurred by Chiyoda

to the JPY 37 billion for theInternational Corporation (CIC) and CB&I LLC (CB&I) toGolden Pass LNG project,complete construction, assuming that Zachry withdraw fromand how does Chiyoda

the project. The JPY 37 billion covers Zachry’s portion of therecover the costs recorded

construction work and their portion of other work for which

this quarter?

the joint venture (JV) is responsible.
•Discussions are progressing between the customer, CB&Iand CIC. We have estimated these costs making noallowance for financial support from the customer.

•We are constructively discussing all options and will revise
our estimate accordingly, aiming to recover costs recorded
this quarter.

When is construction•

completion anticipated?

The construction schedule will be impacted to a certain
degree, considering that an official decision has yet to bemade concerning Zachry’s filing for Chapter 11 and a
resume of construction work is not permitted by the court.

•The construction schedule is under discussion with thecustomer.

1No
2Question

AnswerStrategy for new projects in the USA
Chiyoda experienced•Using Cameron LNG as a ‘Lessons Learned’, weinsolvency of a JV partner

recognized the construction risks for projects in the USA

due to deterioration inand structured the construction portion of the Golden Pass

profitability on another project

LNG project as a lump-sum contract with our JV partners,in the USA in FY2018.

CB&I and Zachry, enabling us to avoid construction risk.

What is Chiyoda’s strategy

Unfortunately however, one JV partner was unable tofor new projects in the USA?

withstand the financial impacts of changing businessconditions during the project’s long duration.
•The USA remains an important country for us in the LNG
and decarbonation fields. Negotiation and appropriate
allocation of risk and responsibility with the customer is key
for projects in the USA and will continue evaluating andselecting projects based on these criteria.

3

Shareholders’ equity
Does Chiyoda intend to•Current financial conditions are mainly attributed to thereceive additional financial

Golden Pass LNG project. We aim to reach an agreement

support due to the level ofon the execution of the project as soon as reasonably

shareholder’s equity ratio?

practicable and recover shareholders’ equity ratio. There
are therefore no current plans to receive additional financial
support.
•Cash and deposits currently exceed JPY 100 billion andthere are no disruptions to our business operations.

4New businesses
What is Chiyoda’s strategy•

for new businesses?

There are expanding opportunities for us to leverage ourexpertise in areas such as hydrogen, life sciences,advanced materials and Digital O&M, in addition to steadily
advancing existing fields such as LNG, which will remain an
important energy source in the future as a transition energy.

•We will review our new medium term management plan in2

Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en

No

Question

Answerlight of the Golden Pass LNG project and continue toactively transform our business portfolio by expanding newbusinesses.

-End-Please submit inquiries to:
IR, PR & Sustainability Advanced Section, Corporate Services Department
Email: ir@chiyodacorp.com
Note: Some additions and corrections have been made to simplify the content for readers. Any
projections included in these materials are based solely on information available at the time thispresentation was prepared. It is possible that actual results may vary significantly from the projections
due to a number of risk factors such as economic conditions. The results projected here should not beconstrued in any way as being guaranteed by the Company. Investors are recommended not to depend
solely on these projections for making investment decisions.

3