Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/enThe presentation was held in Japanese.

August ４, 2022

This document is a translation/summary

IR, PR & Sustainability Advanced Section

for reference only.

Corporate Services Department
Chiyoda Corporation
Summary of the First Quarter Financial Results Briefing
for Fiscal Year Ending March 31, 2023
The following is a summary of a presentation (telephone conference) outlining Chiyoda
Corporation’s (Chiyoda) financial results for the first quarter of the fiscal year ending March31, 2023, released on August 1, 2022. Please also refer to the ‘Financial Results for the 1stQuarter of Fiscal Year Ending March 31, 2023’ on our website.
Ⅰ. Financial Results(P2)
1. Highlights（P3）Performance reporting in this period
Executing projects with rigorous risk management
Construction phase of large overseas projects accelerates from the 2nd quarterCountermeasures Against Increasing Equipment, Materials and Transportation Costs
Minimizing project impacts through deliberation and cooperation with clients andpartners



Growth Strategy
Hydrogen / carbon neutral / life science businesses and digital transformation areprogressing.

2. Income Statement (P4)
Revenue was 75.7 billion JPY, 15% of the full year forecast (progress rate).

Gross profit was 6.5 billion JPY, 19% of the full year forecast. From Q2. Revenue andgross profit are expected to accumulate in line with the full-year forecast as constructionof large overseas projects are scheduled to progress to the maximum.

Gross profit was 8.6%, 1.6% higher than the full year forecast of 7.0%.
1Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,Yokohama 220-8765, Japanwww.chiyodacorp.com/en

SG&A expenses were 2.8 billion JPY, similar to the same period last year.

Operating income was 3.8 billion JPY, an increase of 3.0 million JPY from the same
period last year, and ordinary income was 3.5 billion JPY, 19% and 20% respectively of
the full year forecast.

Net profit (loss) was 2.2 billion JPY.

3. Profit Analysis (P5)Gross profit was 6.5 billion JPY, an increase of 3.0 million JPY YoY. Gross profit was
3.9 billion yen and 2.6 billion JPY in the energy and global environment business fields
respectively. Progress of a copper smelting project in Indonesia and steady growth innew business fields such as life sciences contributed to gross profit.

SG&A expenses were similar to the same period of the previous fiscal year.

Operating income increased 3.0 million JPY YoY.

4. Balance Sheet (P6)

Total assets decreased by 30.0 billion JPY from 395.4 billion JPY to 365.4 billion JPY,
mainly due to an out of court settlement with a subcontractor on Ichthys LNG in
Australia (construction complete in April 2022).

Shareholders equity increased 3.7 billion yen from 15.7 billion yen to 19.4 billion yen at
the end of the previous fiscal year and the equity ratio improved to 5.3%.

5. New Orders / Backlog (P7)
New Orders received was 20.6 billion JPY and the order backlog was 1,367.7 billion
JPY.

Major projects in the order backlog include NFE LNG in Qatar, Golden Pass LNG in theUSA and the Tangguh LNG Expansion project in Indonesia in the energy sector and acopper smelting project in Indonesia and a plant for manufacturing biopharmaceuticals
substance manufacturing plant in the global environment sector.
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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. Att. 1, 2, 3 Breakdown of Revenue, New Order, and Backlog (P8-P10)(Explanation omitted)

II. Growth Strategy Topics (P11)
1. CO２ Separation and Recovery (P12)Technology development of CO２ separation and recovery from large scale natural gas
fired power plant turbines using domestic solid sorbent material is ongoing under a New
Energy and Industrial Technology Development Organization (NEDO) Green Innovation
fund program.

The aim is to achieve a significant reduction in equipment cost, energy consumption
and smaller site areas compared to conventional technologies for the separation andrecovery of CO2 from emission sources.

We are aiming to optimize the utilization of existing infrastructure in the use of naturalgas, the demand for which is expected to rise in the future, towards the realization of alow-carbon society.

2. Hydrogen Business - SPERA HydrogenTM ～（P13～P14)① P13: Expansion of the proprietary SPERA hydrogen TM technology business globally.
Discussions with partners to construct a commercial scale international hydrogen
supply chain are ongoing, aiming for the Port of Rotterdam in The Netherlands to be thegateway for importing hydrogen into Europe.

We are also progressing feasibility studies for a clean hydrogen supply chain businessin Singapore.

Discussions are ongoing with hydrogen suppliers, renewable energy companies,hydrogen consumers, port authorities, infrastructure companies, heavy industry
companies and government agencies to establish a global hydrogen supply chain using
SPERA hydrogenTM technology to transport hydrogen from hydrogen sources aroundthe world using MCH*.
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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* MCH: Methylcyclohexane② P14: German Chancellor Scholz visited the dehydrogenation demonstration plant
German Chancellor Scholz visited the dehydrogenation demonstration plant in theKawasaki City in April 2022. The day before the visit At a the "Japan-Germany
Business Dialogue ," an event to commemorating the 60th anniversary of the German
Chamber of Commerce and Industry in Japan the day before, Chancellor Scholz madea strong commented that as “Their (Chiyoda’s) SPERA hydrogenTM technology can be
the world’s model for building international hydrogen supply chains.”
In order to meet the expectation, Chiyoda is accelerating the growth of its hydrogenbusiness to meet expected demand at most effort.

3. Energy Management Business (P15)Chiyoda is currently constructing one of the world's largest battery power storage
system plants in Hokkaido and we were awarded a 20 year maintenance contract by
North Hokkaido Wind Energy Transmission Corporation.

Studies on the effective use of batteries to enhance the use of renewable energy areongoing, such as using batteries to optimize wind power plants, the output of which canbe predicted in advance based on wind condition forecasts using AI.

Complex projects that combine energy storage systems to make renewable energy as
the main source of power are expected in the future.

We are contributing to regional revitalization by developing regional utility businesses
through combined renewable energy and energy storage projects.

4. Life Science Business (P16)Pharmira Co. Ltd (Pharmira), the world’s first joint venture for contract development andmanufacturing of active pharmaceutical ingredients and intermediates, led by Shionogi
Pharma Co. Ltd, commenced business April 2022.

Chiyoda participates in the joint venture and contributes to the pharmaceutical industry
by applying continuous manufacturing (CM) processes developed in the oil andchemical industry.
4Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en

We are aiming to strengthen the life science business by horizontally applying CMprocesses.

5. Digital transformation (DX) (P17)

We are currently developing plant operation and maintenance optimization solutions
under EFEXISTM, and implementation by clients is progressing.

The newly released ‘O&M Mother’ as an expansion of EFEXISTM combines advanced
diagnostic and analysis technology with the latest IoT and cloud technologies.



We are also developing a solution that streamlines operation and maintenance byvisualizing plant conditions online via the cloud, including visualizing pipe corrosion,
predicting rotating equipment abnormalities and predicting remaining service life.

EFEXISTM helps clients DX their plants for safer and more secure operation.

III. Major Projects in Progress (P18)
1. Major Projects in Progress (Energy Sector) (P19)Projects are progressing steadily.

The NFE LNG project in Qatar commenced construction, in addition to Engineering andProcurement.

2. Major Projects in Progress (Global Environment Field) (P20)

Procurement of equipment for the copper smelting project in Indonesia is nearing
completion. Construction is progressing smoothly.

We are executing large-scale projects in the life science and energy management
fields, which are positioned as growth areas. All projects are progressing smoothly.
-End-5

Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/enPlease address 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 thetime this presentation was prepared. It is possible that actual results may vary significantlyfrom 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 to depend solely on these projections for making investment
decisions.

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