Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/enFebruary 9, 2024

The presentation was conducted in Japanese.

IR, PR & Sustainability Advanced Section

This document is a translation/summary for

Corporate Services Department

reference only.

Chiyoda Corporation
Summary of a Q&A session following the Presentation of theThird Quarter Financial Results for Fiscal Year Ending March 31, 2024

The following is a summary of a Q&A session following the presentation (online conference) of Chiyoda
Corporation’s (Chiyoda) financial results for the third quarter of the fiscal year ending March 31, 2024,
released on February 5, 2024.
No1

Question

AnswerRevenue
Revenue was revised upward•

The upward-revised full year forecast encompasses theon February 5, 2024 andexpected construction progress of ongoing projects in theachieved 79% of the full year

fourth quarter.

forecast.
Is revenue expected to•

decrease in the fourth quarter

There is a possibility that revenue will slightly exceed theforecast, due to exchange rates.

and, if so, why?
2Gross profit margin
Why did gross profit margin•

The improvement in gross profit margin is because transient

improve from the first half ofprofits were recorded in this quarter due to improvements inthis fiscal year?

profitability by sharing risks associated with the completed
project in Qatar, and the consistent execution of existing
projects.

At 7.2 %, why is the revised•

The main reason is the re-evaluation of estimated costs onfull year forecast below theenergy projects to maintain construction progress in the firstprevious forecast of 7.8%?

half, as part of our risk management process.
•However, improving profit margin is essential and will beaddressed collectively by the entire company.

3

Development of a large-scale water electrolysis system with Toyota Motor Corporation1

NoQuestion
What is the division of theAnswer•TOYOTA will be responsible for the development of water

scope of work between

electrolysis stacks, while CHIYODA will develop a large-CHIYODA and TOYOTA?

scale water electrolysis system. Both companies will
collaborate on the study of equipment configuration andcost reduction for system integration.

Is the target market for the4•Although we will target both domestic and overseas

supply of electrolysis

customers, we currently anticipate that the market will beequipment domestic or

predominantly overseas due to low-cost renewable energy

overseas?

requirements in ‘green’ hydrogen production plants.

Liquefied hydrogen supply chain FEED with Kawasaki, Toyo and JGC
CHIYODA is at the forefront•

We proactively engage in the development of multipleof promoting MCH as ahydrogen carriers, including MCH, to contribute to thehydrogen carrier, similar torealization of hydrogen-based society.

liquefied hydrogen.
What is the background of•this collaboration?

The significance of the collaboration lies in the joint venture(JV) between Kawasaki Heavy Industries, a pioneer in theliquefied hydrogen field, and three engineering firms withextensive experience and technical expertise in overseas
plant design and construction. Early collaboration from
FEED enables the JV to leverage our combined expertiseand experience and simultaneously execute multipleliquefaction and shipping facilities, considering theanticipated increase in liquefied hydrogen supply chain
projects, while complying with competition laws andregulations.

5Appointment of a new President
What is the intention of the•The intention is to launch a new Medium-term Management

appointment of a new

Plan from April 1, 2024 with a fresh system that separates

President?

the supervision and execution of management.
•As a current active executive officer of Mitsubishi
Corporation, Mr. Ota, the newly appointed President, is2

Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/enNo

Question

Answeracquainted with our business and is most suitable as thetop executive, having been a director of CHIYODA sinceJune 2022.

Please provide an overview•

As of the end of March 2024, Mr. Sakakida will have beenof Mr. Sakakida's tenure as

Chief Executive Officer or President for the latter threePresident.

years of the five-year Revitalization Plan.
•Throughout this period, Chiyoda has established a structure
to facilitate stable earnings and has improved cash flow andour profit and loss statement. We believe that the company
is moving in a positive direction.

•Financial independence is, however, still in progress.
We will take the required steps in the new Medium-termManagement Plan to further progress in the next three
years and Mr. Sakakida will continue as Chairman of theBoard.

-End-Please submit 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 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. Investors are recommended not to depend
solely on these projections for making investment decisions.

3