Financial Results forthe 1st Quarter of Fiscal Yearending March 31, 2023
(FY2022 1Q)
August 1, 2022
Chiyoda Corporation© Chiyoda Corporation 2022, All Rights Reserved.

Ⅰ Financial Results
Ⅱ Growth Strategy
Ⅲ Major Ongoing Projects

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Ⅰ Financial Results2

1 Highlights
1.

Financial Results• Executing projects with rigorous risk management• Construction phase of large overseas projects
accelerates from 2nd quarter

2.

Countermeasures Against Increasing Equipment,
Materials and Transportation Costs
Minimizing project impacts through deliberation andcooperation with clients and partners

3.

Growth Strategy
Hydrogen / carbon neutral / life science businesses
and digital transformation are progressing.
322 Income Statement
Billions of JPY

FY2021
1Q

FY2022Difference
1Q

Full Year
ForecastProgress

Revenue

80.5

75.7

(4.7)

500.0

15%

Gross Profit

6.2

6.5

0.3

35.0

19%

Gross Profit Margin

7.7%

8.6%

+0.9pt

7.0%-

SG&A Expenses

(2.7)

(2.8)

(0.1)

(15.0)-Operating Income

3.5

3.8

0.3

20.0

19%

Ordinary Income

3.5

3.5

(0.0)

18.020%(17.2) Note

2.2

19.4

11.5

19%

111137

Profit*Exchange Rate
JPY/ USDNote)120

FY2021 1Q: Extraordinary losses of JPY20.4 billion was recorded related to the completedIchthys LNG project. The lawsuit had been settled.

* Profit attributable to owners of the parent

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33 Profit Analysis
Billions of JPY

FY2021 1Q

FY2022 1Q
Gross Profit
6.2

Energy4.4

Global1.8
Environment(6.5(+0.3)

SG&A(2.7) (2.8)((0.1))

Operating Income
3.5

3.8(+0.3)

3.92.6) ： Compared to FY2021 1Q results

544 Balance Sheet
Billions of JPY

FY2021 FY2022 Difference
4Q
1Q
Current Assets

372.7 341.7 (31.0)

FY2021 FY2022 Difference
4Q
1Q
Current Liabilities

350.7 319.4 (31.3)

239.5 239.2(0.3)(0.0)

Cash and Deposits

68.8

71.6

2.8

Operating Liabilities*3

Operating Assets*¹

59.0

68.5

9.5

Provision for Loss on
Construction Contracts

34.8

34.8

Accounts
Receivable - Other

83.2

32.7 (50.5)

Accounts Payable- Other

44.0

17.3 (26.8)

Jointly Controlled
Assets of JV *²

Non-Current Assets
Total Assets

141.4 143.4

2.0

Non-Current Liabilities

29.0

26.5

(2.5)

22.7

1.0

Net Assets

15.8

19.53.8

23.8

395.4 365.4 (30.0)*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

Liabilities andNet Assets

395.4 365.4 (30.0)

Shareholders’ Equity

15.7

19.4

3.7

Shareholders’ Equity
Ratio

4.0%

5.3% +1.4pt

552 New Orders / Backlog
Billions of JPY

New Orders
FY2022 1Q

Backlog
FY2022 1Q

Energy9.4

982.5

Global Environment

11.2

385.2

Total

20.6

1,367.7

More than
JPY100 billion

More than
JPY10 billion

Energy• NFE LNG, Qatar• Golden Pass LNG,
USA

• Tangguh LNG
Expansion, Indonesia

Global Environment• Copper Smelting
Plant, Indonesia• Biopharmaceutical
Manufacturing Plant,Japan

Major Backlog
Projects7

Att.1

Revenue Breakdown
Billions of JPY【FY2022 1Q】

Regional

Business

21%

26%

57%

ENERGY

33%

49.3

29%
16%

OVERSEAS

59.6

LNG Plant, Gas Related Work

43.5

Middle East & Africa

22.3

Refinery, Petrochemical

5.8

Americas

12.2

26.5

Asia & Oceania

25.0

Pharmaceutical, Biochemistry, Chemical

6.7

Others0.0

Environment, New Energy, Infrastructure, Others

19.7

DOMESTIC

16.2

TOTAL

75.7

ENVIRONMENT

TOTAL

75.7

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Att.2New Order Breakdown
Billions of JPY【FY2022 1Q】

Regional

Business
13%

11%33%33%82%

22%

ENERGY

9.4

OVERSEAS

3.6

LNG Plant, Gas Related Work

2.6

Middle East & Africa

1.9

Refinery, Petrochemical

6.8

Americas

(0.4)

11.2

Asia & Oceania

2.2Pharmaceutical, Biochemistry, Chemical

4.5

Others0.0

Environment, New Energy, Infrastructure, Others

6.7

DOMESTIC

17.0

TOTAL

20.6

ENVIRONMENT

TOTAL

20.6

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Att.3

Backlog Breakdown
Billions of JPY【FY2022 1Q】

Regional

Business

25%

24%
60%

70%

ENERGY

982.5

OVERSEAS

1,267.0

LNG Plant, Gas Related Work

953.3

Middle East & Africa

814.3

Refinery, Petrochemical

29.2

Americas

120.7

385.2

Asia & Oceania

332.0

Pharmaceutical, Biochemistry, Chemical

48.0

OthersEnvironment, New Energy, Infrastructure, Others

337.2

DOMESTICTOTAL1,367.7

ENVIRONMENT

0.0

TOTAL

100.7
1,367.7

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Ⅱ Growth Strategy11

1 CO2 Separation and Recovery
Technology Development of CO2 Separation and Recovery～NEDO* Green Innovation Fund Program～ The domestic technology development centers on solid sorbent material torealize low cost separation and recovery of low concentration CO2 emitted
from gas turbines for carbon neutrality of natural gas utilization.
Project Scheme
吸収材開発
SolidSorbent プロセス開発
Process

実ガス実証
Pilot Test

Secretary CompanyConceptual image of CO2 separation and recovery
process from natural gas combustion exhaust gasFiscal year 2022～2030 (Nine years)* New Energy and Industrial Technology Development Organization

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2 Hydrogen Business ~SPERA HydrogenTM~
SPERA Hydrogen (MCH-LOHC*1) Global Business
The Netherlands

Singapore

Discussions to build a commercial scaleinternational hydrogen supply chain are ongoing,
aiming for the Port of Rotterdam to be thegateway for importing hydrogen into Europe.

Detailed discussions and studies torealize an international clean hydrogen
supply chain in Singapore are ongoing.

SPERA Hydrogen Connecting Global Hydrogen Supply Chains*1 MCH: Methylcyclohexane LOHC: Liquid Organic Hydrogen Carrier*2 Memorandum of Understanding13

2 Hydrogen Business ~SPERA HydrogenTM~
German Chancellor Olaf Scholz Visited AHEAD*1
Dehydrogenation Plant
Kawasaki City on April 29, 2022

© Bundesregierung/BergmannPlant tour: From the left Mr. Sakakida, CEO, Chancellor Scholz,
Mr. Iuchi, Senior Vice President

Chancellor Scholz, fourth from the left, and delegates fromTOA OIL CO., LTD. and Chiyoda

Chancellor Scholz said: “Japan and Germany will promote a mutual collaborative
alliance through a Germany-Japan Energy Partnership. Industrial hydrogen use
is becoming essential in this context. Tomorrow, I will visit Chiyoda Corporation.
They will explain how they transport hydrogen produced in Brunei to Japan to beprocessed. Their technology can be the world’s model for building
international hydrogen supply chains.”
Abstract from Chancellor Scholz presentation at the German Chamber of Commerce and Industry in Japan 60th anniversary event‘German-Japanese Business Dialogue in Tokyo’ on April 28, 2022*2 (English translation by Chiyoda Corporation)*1 Advanced Hydrogen Energy chain Association for technology Development*2 https://japan.diplo.de/ja-ja/themen/politik/-/2525396 (Japanese page)14

3 Energy Management Business
Regional Utility Business Leveraged by Energy Storage
 Awarded a 20 year maintenance contract by North Hokkaido Wind EnergyTransmission Corporation for the world’s largest battery power storage system,
currently under construction by Chiyoda
 Energy storage system studies focusing on the effective use of batteries toenhance renewable energy are ongoing.
 Contributing to regional revitalization while developing regional utility
businesses through combined renewable energy and energy storage projects

Energy Storage System

Study of optimal battery storage capacity based onoutput forecasting using AI15

4 Life Science BusinessFuture Generation Manufacturing Processes inPharmaceutical Fields
 Pharmira Co., Ltd. (Pharmira), the world’s first jointventureforcontractdevelopment
andmanufacturing of active pharmaceutical ingredientsand intermediates, led by Shionogi Pharma Co.,
Ltd., commenced business April 2022.
 Chiyoda participates the Joint Venture to contributeto pharmaceutical industry by applying continuous
manufacturing (CM) processes developed in oiland chemical industry.

Chiyoda’s Flow Reaction Apparatus

Expected Values of CM Process Development cost reduction
 Development period reduction

 Manufacturing cost reduction
 High quality and stable supply
Pharmira and Chiyoda executives in front of Pharmira premises

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5 Digital Transformation (DX)
Expanding EFEXISTM, Optimizing Solutions for Plant
Operation and Maintenance ‘O&M Mother’ Combining advanced diagnostic and analysis technology provided by
Chiyoda’s Advanced Solutions (ChAS) business* with cutting-edge IoT andcloud technology
 Visualizing the status of plants in online cloud and streamlining operationand maintenance Realizing clients plant operation DX with EFEXISTM solutions
O&M Mother
Concept DiagramSolutions (1st batch)•Visualize pipe corrosion•Rotating equipmentmalfunction prediction
and life expectancy
diagnosis* A one-stop service supporting safe and stable plant operation by analyzing a plants condition, predicting its
future status and executing appropriate remedial action following diagnosis, analysis and consultation.

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Ⅲ Major Ongoing Projects

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1III Major Ongoing Projects (Energy)
Project

Tangguh LNG Expansion,Indonesia

Golden Pass LNG, USA

NFE LNG, Qatar

ClientBP Berau Ltd.

Golden Pass LNG(QatarEnergy andExxonMobil JV)

QatarEnergy

JV Partner

Saipem, Tripatra

Zachry, McDermott

Technip Energies

ScheduledCompletionStart up in 2023

2025

2027

StatusConstruction ongoing

Engineering, procurement
and construction ongoing

Engineering and procurement
ongoing and constructioncommenced

Tangguh LNG, Indonesia

Courtesy of BP Berau Ltd.

Golden Pass LNG, US

Courtesy of Golden Pass LNG

192III Major Ongoing Projects (Environment)
Project

Copper Smelting Plant,
Indonesia

Vaccine Constituent
Production Facility

Energy Storage System
Facility

Field

Non-Ferrous Metal

Life Science

Energy Management

ClientP.T. Freeport Indonesia

SHIONOGI & CO., Ltd.

North Hokkaido Wind
Energy Transmission Corp.

ScheduledCompletion

2024

2022

2023

StatusEngineering, procurement
and construction ongoing

Executing EPC for anadditional line andaffiliated facilities

Construction ongoing

Copper Smelting Plant, Indonesia

Energy Storage System Facility (under construction)

Courtesy of Freeport-McMoRan Inc. From ’FCX Conference Call
1st Quarter 2022 Results’20

Energy and Environment in Harmony

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 2022, All Rights Reserved.

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