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

The presentation was held in Japanese.

May 2022

This document is a translation/summary

IR, PR & Sustainability Advanced Section

for reference only.

Corporate Services Department
Chiyoda Corporation
Summary of the Financial Results Briefingfor Fiscal Year Ending March 31, 2022

The following is a summary of a presentation (telephone conference) outlining Chiyoda Corporation’s(Chiyoda) financial results for fiscal year ending March 31, 2022, released on May 10, 2022.
Ⅰ. Financial Results for FY2021 explain Chiyoda’s financial results. Ⅱ. Business Overview explain
our initiatives for revitalization and the future.

Ⅰ. Financial Results for FY2021
1. Highlights (P2)
Revenue achieved the full year forecast and Operating Income achieved a similar outcome.

Issues on the ICHTHYS LNG project were settled, contributing to solid growth. Order backlog
was JPY1.3 trillion.

2. Income Statement (P3)
Revenue was 311.1 billion JPY, 104% of the full year forecast.

Gross profit was 22.8 billion JPY, 88% of the full year forecast. Gross profit margin was 7.3%, animprovement of 1.0% YoY.

SG&A expenses were 12.2 billion JPY, a reduction of 0.8 billion JPY YoY.



Operating income and ordinary income were 10.5 billion JPY and 11.4 billion JPY, 96% and 127%
respectively of the full year forecast. Both increased YoY.

Net profit (loss) was negative 12.6 billion JPY. Extraordinary losses of 20.4 billion JPY wererecorded in the 1st quarter, based on an out-of-court settlement related to the ICHTHYS LNG
project as agreed with the client. An out of court settlement with Combined Cycle Power Plant
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Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en

subcontractors was agreed in April 2022.
A total profit of 4.6 billion JPY was recorded in the 2nd, 3rd and 4th quarters.

3. Profit Analysis (P4)
Gross profit was 22.8 billion JPY, an increase of 2.7 billion JPY YoY. In the energy and global
environment business fields, gross profit was 13.8 billion JPY and 9.0 billion JPY respectively.
Gross profit in the global environment field, including new business fields such as life science,
contributed to the increase.

SG&A expenses decreased by 0.8 billion JPY YoY.



Operating income was 10.5 billion JPY, an increase of 3.5 billion JPY YoY.

4. Balance Sheet (P5)
Total assets were 395.4 billion JPY as of March 31, 2022, an increase of 65.8 billion JPY from329.6 billion JPY as of March 31, 2021. As ongoing projects have progressed, cash and deposits
have decreased. Jointly controlled assets of the JV have increased as the NFE project in Qatar
and a copper smelting plant in Indonesia have progressed.

Shareholder’s equity was 15.7 billion JPY as of March 31, 2022, a decrease of 20.7 billion JPYfrom March 31, 2021, due to extraordinary losses related to the ICHTHYS LNG project in the 1stquarter. Shareholder’s equity increased by 3.3 billion JPY from 12.4 billion JPY as of June 30,2021.

5. New Orders / Backlog (P6)
New orders were 415.9 billion JPY, 139% of the full year forecast, including new orders in theglobal environment field, such as a copper smelting plant in Indonesia, and the life sciencebusiness.

The order backlog was 1,331.0 billion JPY. Major projects include NFE LNG in Qatar, Golden
Pass LNG in the USA and the Tangguh LNG Expansion project in Indonesia in the energy field,a copper smelting plant in Indonesia, a vaccine constituent production facility and abiopharmaceutical manufacturing plant in the global environment field.

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

6. FY2022 Forecast (P7)
Revenue is forecast to be 500.0 billion JPY. Gross profit is expected to be 35.0 billion JPY with agross profit margin of 7.0%. Profit forecasts reflect rapidly increasing equipment, material andtransportation costs due to global inflation and supply chain disruptions as a result of thegeopolitical crisis in Ukraine and COVID-19.

SG&A expenses is forecast to be 15.0 billion JPY, the same as FY2021.

Operating income and ordinary income are expected to be 20.0 billion JPY and 18.0 billion JPYrespectively, estimating a 2.0 billion JPY borrowing interest payment.

Profit is expected to be 11.5 billion JPY, estimating a 6.5 billion JPY income tax payment.

New Orders are expected to be 300.0 billion JPY, comprising 200.0 billion JPY and 100.0 billion
JPY for overseas and domestic projects respectively.

7. Att. 1, 2, 3 Breakdown of Revenue, New Order, and Backlog (P8-P10)(Explanation omitted)

Ⅱ. Business Overview
1. Achievements in FY2021 (P2)
1.

Further Developments in our Risk Management Structure•

ICHTHYS LNG issues were settled, contributing to solid growth. Order backlog was JPY1.3trillion.

•Projects awarded, following the release of our Revitalization Plan, contribute to earnings.

•Company-wide countermeasures to minimize impacts of rapidly increasing equipment,material and transportation costs due to global inflation and supply chain disruptions as aresult of the geopolitical crisis in Ukraine, have been taken following discussions with clientsand business partners.

2.

3.

Enhanced engineering, procurement and construction (EPC) execution management•Real time earning predictions by data management•Reinforced monitoring of project earnings to promptly implement countermeasures

Reinforcement of Human Resources (HR)3

Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en4.

•A new HR system was introduced in April 2021.

•Four (4) Human Resource Officers by job category consulted employees to collect HR data.

Accelerating Company-wide Digital Transformation (DX)•A Chief Digital Officer (CDO) position was established to develop new businesses andsolutions, cultivate digital human resources and foster a DX mindset.

2. Major Ongoing Projects (P3)The NFE LNG project in Qatar, a copper smelting plant in Indonesia and other domestic andoverseas projects are progressing.

3. Sustainability (P4)A Sustainability Committee, led by Mr. Sakakida (CEO/Chief Sustainability Officer (CSO)), wasestablished to enhance Chiyoda’s corporate value and sustainable development. Sustainability
is a core value for Chiyoda’s corporate management and actions to address environmental,
resource, social and economic issues will always be implemented.

Chiyoda declared a carbon neutral goal on 1 April 2022, aiming for net-zero carbon emissions by2050. Through our corporate philosophy of ‘Energy and Environment in Harmony’, Chiyoda willcontinue contributing to a decarbonized and carbon recycling society through ‘reduction’ and‘recirculation’ by applying our engineering and application capabilities.

4. Committees (P5)Five (5) committees were established, subordinated by Executive Advisory Committee, toaccelerate revitalization initiatives and realize our vision for the future, ie: an Integrated StrategyCommittee, a Consolidated Management Promotion Committee, a Project CompetitivenessCommittee, a Human Resources Management Committee and a Carbon-free Business
Promotion Committee.

Chiyoda continues resolving business issues and accelerating initiatives for revitalization throughour vision for the future and cross management of divisions and committees.

5. Revitalization and Our Vision for the Future (P6)Chiyoda continues to contribute to the transition to a carbon-free society with our advanced
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Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en

technology to realize carbon neutrality by 2050.
Chiyoda is continuing with its business portfolio transformation, aiming for a 50:50 profit ratio ofexisting businesses (such as LNG) and new businesses (such as decarbonization and lifescience) by 2030.

The consolidated net profit target by 2030 is more than 30 billion JPY.

6. Mirai Engineering (P7)
This slide shows Chiyoda business vision ‘Mirai Engineering’. ‘Mirai’ means ‘future’ in Japanese.

Chiyoda generates new engineering values and transforms its business portfolio through digitaltransformation of its four (4) business fields of ‘Low Carbon and Carbon Recycling’, ‘Hydrogen’,‘Energy Management’ and ‘Life Science’.

6-1. Low Carbon and Carbon Recycling (P8)Chiyoda promotes cleaner LNG production for low carbon energy supply, combining LNG as atransition energy source and carbon dioxide capture and storage (CCS) technology.

Chiyoda contributes to a low carbon society in metallic resource fields, such as copper smelting.



Chiyoda contributes to the realization of a carbon recycling society by applying our carbon
recycling technologies, and we develop carbon dioxide capture, utilization and storage (CCUS)
technology to reduce CO2 emissions while promoting effective CO2 usage through e-fuel/SAFmanufacturing.

6-2. Hydrogen Business (SPERA HydrogenTM and Ammonia) (P9)Chiyoda contributes to realizing a hydrogen-based society through multiple hydrogen carriers,
centered on our unique ‘in-house’ SPERA HydrogenTM technology.

Chiyoda is participating in studies to construct hydrogen supply chains in Singapore and Europe.

Chiyoda is planning to semi-commercialize a hydrogen supply business by the early 2020’s, withfull commercialization later in the decade.

5Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/enFeasibility studies for a hydrogen supply chain and ammonia receiving facilities are ongoing.

Chiyoda is developing new ammonia producing technology, funded by a Green Innovation Fundfrom the New Energy and Industrial Technology Development Organization (NEDO).

6-3. Energy Management Business (P10)In the renewable energy and energy storage fields, Chiyoda is executing the EPC of the world’s
largest battery energy storage plant and Japan’s largest biomass power plant.

Chiyoda is promoting entry into the local energy distribution business and commercialization of‘Energy as a Service’ by creating businesses with our facility expertize and accumulating data
through our energy business.

6-4. Life Science Business (P11)
Construction of a vaccine constituent production facility and a biopharmaceutical manufacturing
facility etc has commenced.

Chiyoda is collaborating in the contract development manufacturing business of active
pharmaceutical ingredients and intermediates promoted by Shionogi Pharma Co., Ltd. We also
apply continuous manufacturing (CM) technology cultivated in the oil and chemistry fields.
Chiyoda realizes the application of CM technology in the pharmaceutical field and is laterally
expanding the same in the life science field.

Chiyoda aims to be a solution provider in high value-added biotechnology and life science fields.

6-5-1. Digital Transformation (DX Business Promotion) (P12)

EFEXISTM has been introduced through domestic and overseas energy companies, offering
innovative plant operation optimizing solutions.

6-5-2. Digital Transformation (DX Business Innovation) (P13)Project and corporate DX is ongoing.

Project execution has been fully digitalized to strengthen our project execution capabilities andenhance risk management.
6Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en

Chiyoda AWP, a digital integrated management system to optimize the EPC process throughout
the entire project life cycle, has been introduced on overseas projects such as NFE LNG in Qatar
and the copper smelting plant in Indonesia.

PlantStreamTM, an innovative design system, has been developed to streamline design works
and has been introduced to domestic and overseas plant engineering companies

Corporate management has been digitally reinforced, realizing flexible resource allocation,business performance improvement and workstyle diversity.

-EndPlease submit inquiries to:
IR, PR & Sustainability Advanced Section, Corporate Services Department
Tel. +81-45-225-7734

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
be construed in any way as being guaranteed by the Company. Investors are recommended not todepend solely on these projections for making investment decisions.

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