Financial Results forthe 3rd Quarter of Fiscal YearEnding March 31, 2024
(FY2023 3Q)
February 5, 2024
Chiyoda Corporation（Stock code: 6366）© Chiyoda Corporation 2024, All Rights Reserved.

AGENDA：

1. Highlights
2. Income Statement

3. Profit Analysis
4. Balance Sheet
5. New Orders / Backlog
6. Major Topics[Att-1] Revenue / Backlog Breakdown[Att-2] Results History

Our SDGs Materiality21

1. Highlights

1 Increased business profitability
Increased income and profit compared to the same period last year due tothe progress of ongoing projects. Steadily accumulated business revenue,
similar to FY 2022 when we achieved the highest annual profit for 10 years

2 Upward revision of earnings guidance
Earnings guidance at the beginning of this fiscal year was revised upward
based on a weak yen and transient profits in this quarter due toimprovement in profitability by sharing risks on completed projects

3 Accelerating transformation of business portfolio
Established a strategic partnership to create social value throughdevelopment of a water electrolysis system for hydrogen production,
aimed towards hydrogen value chains22. Income Statement
Billions of JPY

FY2022 FY2023
Difference
3Q
3Q

FY2023*2
Revised
Progress
Full Year
Forecast（Reference）

Previous
Full Year
Forecast

Revenue

308.5

397.5

89.0

500.0

79%

450.0

Gross Profit

23.5

28.6

5.1

36.079%35.0

Gross Profit Margin

7.6%

7.2%

(0.4pt)

7.2%

-7.8%

SG&A Expenses(9.9)(10.8)(0.9)(15.0)

72%(15.0)

Operating Income

13.6

17.8

4.2

21.0

85%

20.0

Ordinary Income

15.6

23.6

8.0

28.0

84%

20.0

Profit*1

12.5

15.7

3.2

18.0

87%

15.0

Exchange Rate
JPY/ USD

133142145

140*1 Profit attributable to owners of parent*2 Revised upward on February 5, 2024

33. Profit Analysis
Billions of JPY

FY2022 3Q

FY2023 3Q
Gross Profit
23.5

28.6 (+5.1)

SG&A Expenses

Operating Income(9.9) (10.8) ((0.9))

13.6 17.8 (+4.2)(10.8)

13.2(9.9)

Energy17.1
15.5

GlobalEnvironment(13.617.86.4) ： Compared to FY2022 3Q results

44. Balance Sheet
Billions of JPY

FY2022 FY2023
4Q
3Q

FY2022 FY2023
4Q
3Q

Difference

383.0

359.2

(23.8)Cash and Deposits

61.2

100.6

Operating Assets*¹

58.6

Jointly Controlled
Assets of JV *²

Difference

Current Liabilities

356.3

342.2

(14.1)

39.4

Operating Liabilities*3

292.7

269.8

(22.9)

50.5

(8.1)

Provision for Loss on
Construction Contracts

27.9

23.8

(4.1)

161.6

120.4

(41.2)

Non-Current
Liabilities

28.0

8.0

(20.1)

Non-Current
Assets

23.6

23.3

(0.4)

Net Assets

22.3

32.3

9.9

Total Assets

406.6

382.4

(24.2)

Total Liabilities andNet Assets

406.6

382.4

(24.2)

Shareholders’ Equity

22.2

31.3

9.1

Shareholders’ Equity
Ratio

5.5%8.2%+2.7ptCurrent Assets*1 Operating Assets： Notes receivable, accounts receivablefrom completed construction contracts and contract assets +Costs on construction contracts in progress
2* Jointly Controlled Assets of JV： Cash and deposits of joint
venture proportional to Chiyoda’s interest
3* Operating Liabilities： Notes payable, accounts payable forconstruction contracts + Contract liabilities

55.2New Orders / Backlog
Billions of JPY

FY2023 3Q New Orders

FY2023 3Q Backlog

Energy

53.5

721.2

Global Environment

120.2

268.4

Total

173.7

989.7

【Major Backlog Projects】
More than
JPY 100.0 billion
EnergyGlobal Environment••

NFE LNG, Qatar

Copper Smelting Plant,
Indonesia

More than
JPY 5.0 billion•Golden Pass LNG, USA•

CO2 Methanation Facility,
Japan
Biopharmaceutical
Manufacturing Plant, Japan
Advanced Material Plant,
Japan

•
•

6

6.2Major Topics - 1
Commenced Development of an Electrolysis Systemwith TOYOTA MOTOR CORPORATION✓ Signed a Memorandum of Understanding with TOYOTA to develop a large-scale waterelectrolysis system*1 and build a strategic partnership in response to expanding domestic
and international hydrogen production markets.*2✓ Contributing to achieving government goals for introducing water electrolysis equipment
to realize carbon neutrality by integrating TOYOTA’s particular fuel cell technology withCHIYODA's plant engineering/construction proficiency.

Waterelectrolysis

Expertise inplant engineering*1 System for producing hydrogen by electrolyzing water*2 Both companies will exhibit at the H2&FC EXPO (February 28 to March 1, 2024
at Tokyo Big Sight (Koto-ku, Tokyo): Organized by RX Japan Ltd.)

Expertise inindustrial products

77.2Major Topics - 2Business portfolio transformation includes steady progression of new business initiatives,
such as those in the decarbonization and life science fields.
◆ Quantitative/Comparative Analysis for
CO2 Liquefaction, Temporary Storage andTransportation [Decarbonization field]✓ Conducting joint studies with NYK Line, KNCC*1 toquantitatively/economically/technically evaluate andverify the feasibility of the CCUS*2 value chain.
✓ Contributing to the social implementation of CCUS
by integrating engineering expertise and shipping
expertise.

◆ Feasibility Study for Floating Offshore WindTurbine Project for domestic developer[Decarbonization field]◆EPC Contract with AGC Corporation for a NewBiopharmaceutical Active Pharmaceutical
Ingredient Manufacturing Plant [Life Science field]✓ An EPC project for production facilities for a CDMO*3 ,supporting the domestic biopharmaceuticaldevelopment/production capabilities, which currently
rely heavily on overseas CDMOs.
✓ Dual-use facilities that produce vaccines during apandemic outbreak, contributing to the public’s
health and safety.
[Completion image]✓ Jointly awarded withTechnip Energies, France✓ Aiming at the early social implementation of
floating offshore wind power generation,a promising renewable energy source in Japan.

# AGC’s project selected as part of subsidy program *4 by
the Japanese Ministry of Economy, Trade and Industry (METI)*1 Knutsen NYK Carbon Carriers AS, a subsidiary of NYK Line. *2 Carbon dioxide Capture, Utilization and Storage*3 Contract Development & Manufacturing Organization*4 Development of biopharmaceutical manufacturing sites to strengthen vaccine production

8

[Att-1] Revenue and Backlog Breakdown
Billions of JPY

FY2023 3Q Revenue

FY2023 3Q Backlog【Business】【Business】
220.555%

LNG Plant, Gas Related Work

198.3

50%

Refinery, Petrochemical

22.2

6%

176.9

45%

22.16%

154.8

39%

397.5

100%

ENERGYENVIRONMENT
Pharmaceutical, Biochemistry,
ChemicalEnvironment, New Energy,
Infrastructure, Others
TOTAL

721.2

73%

LNG Plant, Gas Related Work

695.1

70%

Refinery, Petrochemical

26.1

3%

268.4

27%

96.0

10%

172.4

17%

989.7

100%

835.9

84%

ENERGYENVIRONMENT
Pharmaceutical, Biochemistry,
ChemicalEnvironment, New Energy,
Infrastructure, Others
TOTAL【Region】【Region】
341.0

86%

Middle East & Africa

141.1

36%

Middle East & Africa

595.2

60%

Americas36.0

9%Americas74.1

7%Asia & Oceania163.841%

Asia & Oceania

164.917%

Others0.10%

Others

1.70%

DOMESTIC

56.414%

DOMESTIC

153.816%

397.5

100%

989.7

100%

OVERSEASTOTALOVERSEAS

TOTAL

9[Att-1] Results History
Billions of JPY

Revenue

Gross Profit
500.0

42.8

430.2

385.9

32.7

397.5

315.4

36.0
28.6

311.1
20.1

3Q result[Progress 79%]

22.8

3Q result[Progress 79%]

FY2019 FY2020 FY2021 FY2022 FY2023

FY2019 FY2020 FY2021 FY2022 FY2023

Operating Profit

Profit

26.8

15.2
12.2

21.0
18.1
10.5
7.0

18.0
15.7

3Q result[Progress 87%]

8.0

17.8

3Q result[Progress 85%]*(12.6)FY2019 FY2020 FY2021 FY2022 FY2023

FY2019 FY2020 FY2021 FY2022 FY2023* The figure includes Extraordinary Losses of JPY 20.4 billion related to the project losses
by settlement of lawsuit with a client.

10Enriching Society through Engineering Value

Chiyoda Corporation Corporate Services Department IR, PR & Sustainability Advanced Section, https://www.chiyodacorp.com/en/
Forward-Looking Statements: 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.
Investor are recommended not to depend solely on these projections for making investment decisions.
© Chiyoda Corporation 2024, All Rights Reserved.