Financial Results forthe 1st Quarter of Fiscal YearEnding March 31, 2025
(FY2024 1Q)
July 29, 2024
Chiyoda Corporation（Stock code: 6366）© Chiyoda Corporation 2024, All Rights Reserved.

AGENDA：

1. Key Points
2. Latest Status of
the Golden Pass LNG project
3. Income Statement
4. Balance Sheet
5. New Orders / Backlog
6. FY2024 Forecast
7. Major Topics[Att-1] Revenue / Backlog Breakdown[Att-2] Results History

Our SDGs Materiality111. Key Points• Increased income and profit compared to the same period last year. Gross Profit steadily
progressed due to ongoing projects and implementation of improved risk reassessment
procedures.

Highlights

Latest Status of
the Golden Pass

LNG project• Continuing to transform the business portfolio by accelerating the development of businesses
in new fields. Strategic partnership aiming for social implementation of decarbonization
technology, awarded a large-scale battery energy storage system project and establishing
the world’s first supply chain for polyester fiber produced using non-fossil materials.
• The customer, Zachry, CB&I and CIC* agreed to Zachry’s withdrawal from the project
and the court provisionally approved the agreement.
CB&I and CIC will assume responsibility for separate portions of Zachry’s scope of work.
• Zachry’s withdrawal from the project will be officially confirmed after final court approval,
which is expected in August.

• CB&I and CIC have been in discussion with the customer regarding the two companies
execution plan toward the completion of the project, with the goal of revising the EPC contract
at an early date.

• The current full-year consolidated forecast does not include the impact of Zachry's withdrawal
from the Golden Pass LNG project or any new execution plans to be agreed with the customer.

Forecast• We will promptly disclose any revisions to the forecast, including profit and loss, in accordancewith disclosure criteria as soon as is reasonably practicable following Zachry’s withdrawal.

* Chiyoda International Corporation, a US-based wholly owned subsidiary of Chiyoda Corporation2

2. Latest Status of the Golden Pass LNG Project
June 26✓ Announcement of the financial results of FY2023(While the court proceedings concerning Zachry’s Chapter 11 filing continued,
the cost required to complete construction was forecasted and recalculatedwith the current contract amount based on considerable sufficient costs.）

July 25(Local time)

July 29✓ The customer, Zachry, CB&I and CIC agreed to Zachry’s withdrawal
from the project and the court provisionally approved the agreement.
CB&I and CIC will assume responsibility for separate portions of Zachry’s
scope of work.
✓ Announcement of the financial results of FY2024 1Q(Today)

In August✓ Zachry’s withdrawal from the project will be officially confirmed after
final court approval.

2nd Quarter～rd3 Quarter✓ CB&I and CIC have been in discussion with the customer regarding
the two companies execution plan toward the completion of the project,with the goal of revising the EPC contract at an early date.
Chiyoda will review the profitability, aiming to recover its own capital.

33. Income Statement
Billions of JPY

Revenue
Gross Profit
Gross Profit Margin
SG&A Expenses

FY2023
1Q

FY2024
1Q

Difference

129.4

117.0

(12.4)

8.4
6.5%
(3.3)

1

10.8

2.4

9.2%

+2.7pt

(4.4)

(1.1)

Operating Income

5.1

6.4

1.3

Ordinary Income

6.5

5.5

(1.0)

Profit*1

4.9

4.0

(0.9)

Exchange Rate JPY/ USD

145

161

1 Breakdown✓ Gross Profit
FY2023 1Q FY2024 1Q
Energy3.2

6.1

GlobalEnvironment

5.2

4.8

Total

8.4

10.8

*1 Profit attributable to owners of parent

44. Balance Sheet
Billions of JPY

FY2023 FY2024
4Q
1Q
Current Assets

404.4

392.6

Difference(11.7)

Current Liabilities

FY20234Q

FY2024
1Q

Difference

412.2

395.3

(16.8)(Note)

5.9

Current portion of
long-term borrowings

20.0

20.0-70.0

3.8

Operating Liabilities*3

322.5

307.1

(15.4)

46.5

34.0(12.4)

Provision for Loss on
Construction Contracts

36.5

35.2

(1.3)

Jointly Controlled
Assets of JV *²

147.0

135.4

(11.7)

Non-Current
Liabilities

8.7

9.6

0.8

Non-Current Assets

22.6

22.3

(0.3)

Net Assets

6.1

10.1

4.0

427.0

414.9

(12.0)

Total Liabilities andNet Assets

427.0

414.9

(12.0)

Shareholders’ Equity

4.9

8.6

3.8

Shareholders’ Equity
Ratio

1.1%

Cash and Deposits

102.1

108.0

Short-term loans
receivable

66.2

Operating Assets*¹

Total Assets*1 Operating Assets： Notes receivable, accounts receivable fromcompleted 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

2.1% +0.9pt(Note) Please refer to our disclosure “Notice Regarding the Loan Agreement with MUFG Bank, Ltd.” dated July 24, 2024.

55.2 New Orders / Backlog
Billions of JPY

FY2024 1Q New Orders

FY2024 1Q Backlog

5.7716.4

GlobalEnvironment

18.4

234.2Total

24.2950.6

Energy【Major Backlog Projects】
More than
JPY 100.0 billion

EnergyGlobalEnvironment• NFE LNG, Qatar• Copper Smelting
Plant, Indonesia

More than
JPY 50.0 billion

More than
JPY 5.0 billion• Golden Pass LNG, USA------• CO2 Methanation Facility, Japan• Biopharmaceutical Manufacturing
Plant, Japan• Advanced Material Plant, Japan• Battery Energy Storage Facility,
Japan6

6.2 FY2024 Forecast
Billions of JPY

FY2024 Forecast
Revenue

450.0

Gross Profit

33.0(Note)

Gross Profit Margin

7.3%

SG&A Expenses(16.0)

The current full-year consolidated forecast does
not include the impact of Zachry's withdrawal
from the Golden Pass LNG project or any newexecution plans to be agreed with the customer.

Operating Income

17.0

Ordinary Income

20.0

Profit*115.0

New Orders

250.0

Exchange Rate JPY/ USD

We will promptly disclose any revisions to theforecast, including profit and loss, in accordancewith disclosure criteria as soon as is reasonably
practicable following Zachry’s withdrawal.

150*1 Profit attributable to owners of parent

77.2 Major Topics – Decarbonization Field◆ Partnering with Mitsubishi Heavy Industries toLicense CO2 Capture Technologies◆ World's first*2 supply chain established formore sustainable use of polyester fiber products✓ Strategic collaboration with Mitsubishi HeavyIndustries, Ltd (MHI)✓ Polyester fibers are produced from non-fossil materials
such as CCU*3 para-xylene, and renewable and biobased materials.

✓ The agreement enables Chiyoda to license CO 2
capture technology, developed by MHI, on CO 2
capture projects in Japan, strengthening Chiyoda’s
position in the expanding domestic CCUS*1 market,and increasing our ability to meet decarbonization
demand in a wide range of industries.

✓ Contributing to a low carbon supply chain through aconsortium of seven companies across five continents,including upstream material and downstream apparelcompanies.
✓ Polyester fiber produced from the project are practicallyused by Goldwin, an apparel company, for sports
uniforms under ‘THE NORTH FACE’ brand.

[Photo]Left: Tatsuo Nagayasu, Senior Vice President of MHI
Right: Naoki Kobayashi, Executive Vice President of Chiyoda*1 Carbon dioxide Capture, Utilization and Storage*2 The first use of CCU para-xylene produced by synthesizing directly from CO 2 and the first collaboration between upstream raw material
companies and a downstream apparel company in the production of non-fossil-derived polyester.
*3 Carbon dioxide Capture and Utilization

87.2 Major Topics – Energy Management◆ EPC Contract with Nijio Co., Ltd.*1 for a Largescale Battery Energy Storage System facility✓ Battery Energy Storage System (BESS) facilities are
required to expand the use of renewable energy inJapan and address electrical power output fluctuations
that destabilize the supply and demand balance.
✓ Chiyoda's expertise and experience in previously
constructing one of the world's largest BESS facilities
was a key factor for the award of this contract.
[Details]

Location

Tsunokobaru, Oita-city,
Oita Prefecture

Battery Output/Capacity

25MW／50MWh

Start of Construction

May 2024

Start of Operation

FY2026 (planned)[Completion image] Prepared by Chiyoda based on Google Maps and GSI map data

◆ Successful Completion of a ‘Regional Microgrid’✓ Chiyoda completed and commenced operation of a‘Regional Microgrid’ project for Tokyu Land Corporation.
✓ The project comprised disconnecting the existing power
distribution network and switching to a stand-alone
network that can be powered by renewable energy andenergy storage batteries in case of blackouts.
✓ The system secures a stable power supply to the townhall, evacuation centers and households in Matsumaetown.
[General image of ‘Regional Energy Management’]
System power
supplyWholesale power
market /Supply-demand
adjustment
market / Capacity
marketElectric power
Thermal energy

Battery Wind power generation,
storage(small) Hydroelectric
power generation

Solar powergeneration,
Solar sharing

Biomass powergeneration*EMS*2Government offices,schools, hospitals,
disaster prevention
facilities, generalhousing, etc.

HydrogenExhaust heatand exhaustgas utilization
Commercial
facilities,Factories,etc.

*1 A wholly owned subsidiary of Tokyo Gas Co., Ltd.
*2 Energy Management SystemAIGas

Power to X
Plant factories,etc.

High-value-added
material

97.2 Major Topics – Open Innovation / Metals Field◆ Capital and Business Alliance withSENSYN ROBOTICS [Open Innovation]◆ Copper Smelting Plant, Indonesia✓ Collaborating to improve business efficiency
and industry sophistication through roboticsand AI.

✓ The world’s largest simple manufacturing
line plant.

✓ Generating added value
through state-of-the-art
technologies and combining
the technological capabilities of two
infrastructure maintenance companies.

◆ Investment into DNX Ventures Fund IV
in the USA [Open Innovation][Metals Field]✓ Construction is in the final phase andits completion is scheduled within 2024.
✓ Contributing to the expansion of copper
supplies to support the realization ofa decarbonized society.
[Construction site]✓ Collaborating with global startup companies
and participating in DNX support programs tosupport new business development.
✓ Conquering social challenges through cuttingedge technologies in the sustainability anddigital domains.
Courtesy of P.T. Freeport Indonesia

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

FY2024 1Q Revenue

FY2024 1Q Backlog【Business】【Business】
71.4

61%

LNG Plant, Gas Related Work

67.3

58%

Refinery, Petrochemical

4.1

4%

45.6

39%

3.8

3%

41.8

36%

117.0

100%

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

716.4

75%

LNG Plant, Gas Related Work

684.5

72%

Refinery, Petrochemical

32.03%

234.2

25%

97.2

10%

136.9

14%

950.6

100%

789.9

83%

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

TOTAL【Region】
102.4

88%

Middle East & Africa

58.2

50%

Middle East & Africa

564.3

59%

Americas

5.6

5%Americas

94.2

10%

Asia & Oceania

38.4

33%

Asia & Oceania

130.1

14%

Others0.2

0%Others

1.40%

DOMESTIC

14.6

12%

DOMESTIC

160.7

17%

117.0

100%

950.6

100%

OVERSEASTOTALOVERSEAS

TOTAL

11[Att-2] Results History
Billions of JPY

Revenue

Gross Profit
506.0

315.4

33.0

32.7
450.0

430.2

20.1

311.1

22.8

10.8
117.0

1Q result[Progress 26%]*2(0.2)

1Q result[Progress 33%]

FY2020 FY2021 FY2022 FY2023 FY2024
FY2020 FY2021 FY2022 FY2023 FY2024

Operating Profit
18.1Profit
17.0
15.2

10.5

7.06.4(15.0)

1Q result[Progress 38%]

*2

FY2020 FY2021 FY2022 FY2023 FY2024

15.08.04.0

1Q result[Progress 27%]

*1(12.6)*2(15.8)

FY2020 FY2021 FY2022 FY2023 FY2024*1 The figure includes Extraordinary Losses of JPY 20.4 billion related to the project losses
by settlement of lawsuit with a customer.
*2 The figure includes the additional costs of JPY 37.0 billion related to the Golden Pass LNG project.

12

Forward-Looking Statements: Any projections included in these materials are based solely on information available
at the time this presentation was prepared. It is possible that actual results may vary significantly from theprojections 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 onthese projections for making investment decisions.

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E-Mail : ir@chiyodacorp.com© Chiyoda Corporation 2024, All Rights Reserved.