Financial Results forthe 3rd Quarter of Fiscal Yearending March 31, 2022
February 2, 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 progressed as forecast.

2.
 Completed the large ethylene project in the USA
ahead of schedule Assimilation of execution risks enabling ongoingprojects to proceed as planned
 Progressing projects in new business fields
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22 Income Statement
Billions of JPY

FY20203Q

FY2021
3Q

Difference

Full YearForecast*2

Progress

Revenue

243.0

217.1(25.9)

300.072%

Gross Profit

15.5

16.9

1.4

26.065%Gross Profit Margin

6.4%

7.8%

+1.4pt8.7%-SG&A Expenses

(9.4)

(8.6)

0.8(15.0)

57%

Operating Income

6.1

8.3

2.2

11.075%

Ordinary Income

6.2

8.8

2.6

9.0

97%

Profit*1

6.5 (13.7) Note

(20.1)(14.0)N.A.

Exchange Rate
JPY/ USD

104115111Note) Quarterly Profit

1.
2.

1Q: Negative JPY17.2 billion with extraordinary losses of JPY20.4 billion recorded
related to the Ichthys LNG project which had already been completed
2Q & 3Q: Increased total JPY3.5 billion*1 Profit attributable to owners of the parent*2 Revised on July 30, 2021

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33 Profit Analysis
Billions of JPY

FY2020 3Q Results

FY2021 3Q Results

Gross Profit

15.5

Energy16.9 (+1.4)

SG&A(9.4) (8.6) (+0.8)

Operating Income

6.1

8.3 (+2.2)

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GlobalEnvironment (1.5)() ： Compared to FY2020 3Q results5

44 Balance Sheet
Billions of JPY

Current Assets

2021
2021
Mar. 31 Dec. 31

Difference

305.9 321.3

15.4

2021
2021
Mar. 31 Dec. 31Difference

Current Liabilities

244.7

280.3

35.7

115.2

93.2 (22.0)

Cash and Deposits

107.0

87.3 (19.7)

Notes Payable, Accounts
Payable for Construction
Contracts

Operating Assets*¹

57.3

54.3

(3.0)

Contract Liabilities

74.8

105.4

30.6

Accounts
Receivable - Other

77.3

76.5

(0.8)

Provision for Loss on
Construction Contracts

34.4

34.5

0.1

Jointly Controlled
Assets of JV *²

56.8

92.9

36.1

Accounts Payable- Other

4.2

38.2

34.0

Non-Current Assets

15.8

14.9

(0.9)

Non-Current Liabilities

48.2

48.2

0.0

7.9

7.90.0Net Assets

36.7

15.5 (21.2)

329.6 344.1

14.5

Liabilities andNet Assets

329.6

344.1

Investments andOther Assets

Total Assets*1 Operating Assets： Notes receivable, accounts
receivable from completed construction contracts, andcontract assets + Costs on construction contracts inprogress
2* Jointly controlled assets of JV： Cash and deposits ofjoint venture proportional to Chiyoda’s interest

Shareholders’ Equity
Shareholders’ Equity
Ratio*3 Shareholders’ Equity increased JPY2.8 billion in 2Q & 3Q, from JPY12.4 billion in 1Q.

14.5

36.4 15.2*3 (21.2)
11.0%

4.4% (6.6)pt
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52 New Orders / Backlog
Billions of JPY

New Orders
FY2021 3Q
Energy36.6

Backlog as ofDec. 31, 2021
909.8

Global Environment

356.4

412.5

Total

393.0*

1,322.3*New Orders are 131% of forecast JPY300 billion.

More than
JPY100 billion

More than
JPY10 billion

Energy• NFE LNG, Qatar• Golden Pass
LNG, USA• Tangguh LNG
Expansion, Indonesia

Global Environment• Vaccine Constituent• Copper Smelting
Production FacilityPlant, Indonesia • Energy Storage
System Facility

Major Backlog
Projects7Att.1

Revenue Breakdown
Billions of JPY【FY2021 3Q】

Regional

Business
16%
10%

25%
41%

52%

19%

22%

ENERGY15%

160.0

OVERSEAS

127.8

LNG Plant, Gas Related Work

113.0

Middle East & Africa

54.8

Refinery, Petrochemical

47.0

Americas

40.3

57.1

Asia & Oceania

32.7

Pharmaceutical, Biochemistry, Chemical

21.9

Others0.0

Environment, New Energy, Infrastructure, Others

35.3

DOMESTIC

89.3

TOTAL

217.1

ENVIRONMENT

TOTAL

217.1

8Att.2

New Order Breakdown
Billions of JPY【FY2021 3Q】

Regional

Business

16%
83%

ENERGY81%

36.6

OVERSEAS328.7

LNG Plant, Gas Related Work

11.2

Middle East & Africa

3.1

Refinery, Petrochemical

25.4

Americas

8.9

356.4

Asia & Oceania

Pharmaceutical, Biochemistry, Chemical

29.5

Others0.0

Environment, New Energy, Infrastructure, Others

326.9

DOMESTIC

64.3

TOTAL

393.0

ENVIRONMENT

TOTAL

316.6

393.0

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Att.3

Backlog Breakdown
Billions of JPY【 As of December 31, 2021 】

Regional

Business

27%

25%
57%

67%
10%

ENERGY

909.8

OVERSEAS

1,213.4

LNG Plant, Gas Related Work

880.6

Middle East & Africa

751.0

Refinery, Petrochemical

29.2

Americas

133.3

412.5

Asia & Oceania

329.1

Pharmaceutical, Biochemistry, Chemical

50.7

OthersEnvironment, New Energy, Infrastructure, Others

361.8

DOMESTIC

TOTAL

1,322.3

ENVIRONMENT

0.0

TOTAL

108.9
1,322.3

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Ⅱ Growth Strategy

111III Texas Ethylene
Completion of the World’s Largest Ethylene Plant
Ahead of Schedule

Courtesy of Gulf Coast Growth Ventures

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2III Decarbonization
MOU with PT Pertamina, Indonesia to Collaborate in TechnicalDevelopments Aiming for Net Zero Carbon Emissions

Online signing ceremony at Task Force event in Business 20* Indonesia 2022
* The official dialogue forum with the global business community for Indonesia
G20 to be held in October 2022

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3III Hydrogen
Collaborating with ENEOS in the Practical Technical Verificationof CO2-free Hydrogen Solutions～Successfully Filling an FCV with CO2-free Hydrogen～• Industry-academia collaboration between ENEOS Corporation (ENEOS),
Queensland University of Technology and Chiyoda.
• Scaling up an Australian CO2-free hydrogen supply chain demonstration,
extracting hydrogen from Direct MCH®*1 to fill TOYOTA’s Mirai FCV.
• Chiyoda dehydrogenates*2 the MCH and purifies the resulting hydrogen.
*2 Chiyoda’s unique dehydrogenation process using original catalysts with high yields
Technical verification process*1 Direct MCH®: An ENEOS registered trademark.
MCH: A liquid under ambient temperature and pressure, capable of storing hydrogen more than
500 times more densely in volume. Easy to store and transport.

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4III Ammonia
Research and Development of Ammonia Synthesis Catalysts～NEDO’s* Green Innovation Fund～• Collaboration with Tokyo Electric Power Company Holdings Inc. and JERA Co.,Inc.
• Developing Japanese independent technologies to reduce ammonia productioncosts• Supporting the establishment of fuel ammonia supply chains Project Cost: approximately JPY24 billion
 Project Term: 10 years (FY2021-FY2030)<Research and Development Schedule>
産学連携の3開発チーム*New Energy and Industrial Technology Development Organization

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5III Life Science
Utilizing Chiyoda’s Continuous Manufacturing (CM)
Technology in the Pharmaceutical Field• The world’s first entry into the CM contract business for active pharmaceuticalingredients and intermediates, driven by Shionogi Pharma Co., Ltd.
• Chiyoda implements and horizontally develops CM processes in thepharmaceutical field, developed in the energy and chemistry fields.
Track Record Over 620 projects inPharmaceuticalmore than 60 years
fieldsApplying CM processes
in new business fields

Energy andchemistry fields
CM processes demonstration with Client16

6 Digital Transformation
Enhancing and Refining Project Execution Management byApplying State of the Art Digital Technologies
Implementing Chiyoda AWP*
Reinforces project execution by using digital integral management topackage and align engineering, procurement and construction throughout
the entire project life cycle from initial planning to completion and handover【Optimizing EPC】

【Integral management sample screen】

Work packages define the location andvolume of construction work and visualizethe progress of related engineering andprocurement activities
Improves cost andschedule
forecasting

Minimizes ‘re-work’on siteImproves efficiency
and reduces costs*Advanced Work Packaging

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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

ScheduledCompletion

2022

2025

2027

StatusConstruction ongoingEngineering,procurement andconstruction ongoing•Tangguh LNG, Indonesia•Engineering, procurement andconstruction planning ongoing
HAZOP* study completed inNovember 2021

Golden Pass LNG, US

Courtesy of BP Berau Ltd.

Courtesy of Golden Pass LNG* Hazard and Operability Analysis: Standard method of evaluating safety and operability

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2III Major Ongoing Projects (Environment)
Project

Vaccine Constituent
Production Facility

Energy Storage System
Facility

Copper Smelting Plant,Indonesia

Field

Life Science

Energy Management

Non-Ferrous Metal

ClientSHIONOGI & CO., Ltd.

North Hokkaido Wind Energy
Transmission Corp.

P.T. Freeport IndonesiaScheduledCompletion

2022

FY2023 1Q

2024

StatusExecuting EPC for an
additional line andaffiliated facilities

Construction ongoing

Engineering, procurement
and construction ongoing

Energy Storage System Facility

Energy Storage System20

Energy and Environment in Harmony

Chiyoda Corporation Corporate Services Department IR, PR & CSR 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 factorssuch 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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