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Outline of Financial Results
1Q FY2024

August 8, 2024
JGC HOLDINGS CORPORATION
No part of this document may be reproduced, reprinted, modified or distributed.

My name is Taguchi, and I am General Manager of the Finance Unit.
I will be giving you an outline of financial results 1st quarter fiscal year 2024.

CONTENTS
 Results for 1Q FY2024
 Forecasts for FY2024
 Appendix

2

I will explain the results of the 1st quarter for fiscal year 2024 first, thenfollow by the forecasts for fiscal year 2024.

Results for 1Q FY2024

3

At first, I will begin with the results of the 1st quarter.

Highlights• Net sales increased year on year due tosteady progress on major large-scale projects.
• New award booked Large-scale Low Carbon
LNG Plants project (UAE).
• Solid progress toward the full year forecast.

© 2024 JGC HOLDINGS CORPORATION

Enhancing planetary health

4

These are the three highlights of the 1st quarter.
The major large-scale projects have made steady progress, leading to anincrease in revenue compared to the same period last year.
A large-scale low carbon LNG plant EPC project in UAE was awarded
officially and added to our order backlog.
We assess that the 1st quarter results have made a smooth start towards
achieving our full-year forecast.

Income Statement【Unit: Billions of Yen】

Difference

1Q FY2023

1Q FY2024

Net sales

179.8

204.1

+24.3

+14%

Gross profit

17.815.5△ 2.2△ 13%Profit ratio

9.9%

7.6%

△ 2.3pt

Operating profit

10.08.1

△ 1.9

△ 19%

Ordinary profit

17.7

17.6

△ 0.1

△ 1%

Profit attributable toowners of parent

10.2

12.3

+2.1

+21%

Earnings per share¥42.60¥51.28© 2024 JGC HOLDINGS CORPORATION

Enhancing planetary health5This is the consolidated income statement.
Net sales increased by 24.3 billion yen over the same period of the previous
fiscal year to 204.1 billion yen, but gross profit declined 2.2 billion yen to 15.5
billion yen.
Profit ratio decreased by 2.3 points to 7.6%.
The main reason for the decrease in the profit ratio is that the progress ofEPC projects, for which loss provisions were made in the previous period,resulted in revenue recognition without corresponding profit. Revenue fromthese related projects accounts for approximately 20% of the net sales.
Operating profit decreased by 1.9 billion yen to 8.1 billion yen.
Ordinary profit has been relatively stable at 17.6 billion yen compared to thesame period last year, as the decrease in profit has been mitigated by anincrease in interest income and other factors.
Profit attributable to owners of parent increased by 2.1 billion yen to 12.3
billion yen.
Final profit increase is due to the decline of effective tax rate.

Segment Information【Unit: Billions of Yen】

1Q FY2023

1Q FY2024

164.5

188.2+23.6+14%

Segment profit

8.77.5

△ 1.2

△ 14%

Profit ratio

5.3%

4.0%

△ 1.3pt

Net sales

14.4

14.9+0.5+4%

Segment profit

2.52.4

△ 0.2

△ 7%

18.0%

16.0%

△ 2.0pt

Net sales

0.80.9+0.1+13%

Segment profit

0.30.3

△ 0.0

△ 11%

Profit ratio

41.4%

32.8%

△ 8.6pt

Segment profit

△ 1.6

△ 2.1

△ 0.5

Net sales
Total Engineering

Functional Materials
Manufacturing

Profit ratio

OthersAdjustment© 2024 JGC HOLDINGS CORPORATION

Difference

Enhancing planetary health6This is the segment information.
In the total engineering business, net sales rose 23.6 billion yen over thesame period of the previous fiscal year to 188.2 billion yen as progress wasmade, domestically, in clean energy projects such as biomass power
generation plants, and internationally, in large-scale chemical projects etc.
There were 2 projects in Saudi Arabia, 1 project in Thailand, and 2 projects inIndonesia for which loss provisions were made in the previous period. Whilethese projects have progressed and revenue has been recognized without
corresponding profit, they have negatively impacted profit ratio.
The functional materials manufacturing business recorded net sales of 14.9
billion yen and segment profit of 2.4 billion yen, remaining flat compared tothe same period last year.
Other adjustment amounts are as stated.

Segment Information
Market Environment•Total Engineering Business
Due to the rise of initial investment costs, some clients are considering the timing of investment
decisions carefully. However, clients’ willingness for capital investment, especially in the natural gas(including LNG) and sustainable sectors, remains strong.

•Functional Material Manufacturing Business
Driven by increased fuel demand, the catalyst sector, mainly FCC catalysts, is performing steadily
both domestically and internationally. The fine chemicals sector shows signs of recovery in theelectronics and semiconductor-related markets, with expectations for market recovery. In the fineceramics sector, the demand for high thermal conductivity silicon nitride substrates for HV andPHV continues to grow.

© 2024 JGC HOLDINGS CORPORATION

Enhancing planetary health7

In the total engineering business, the timing of customer investment
decisions has become somewhat fluid due to rising interest rates and soaring
material prices. However, inquiries and considerations to realize projects,
particularly for LNG plants, are actively ongoing.
In functional materials manufacturing business, sales of catalysts haveremained strong since the previous period. In the fine chemicals sector, signsof recovery are beginning to appear in demand for semiconductor-related
products and displays. In the fine ceramics sector, the demand for highthermal conductivity silicon nitride substrates continues to expand.

Segment Information
Outline of Contracts (Total Engineering)i) New Contracts【Unit: Billions of Yen】

1Q FY2023

1Q FY2024

Overseas

14.9

265.0

Domestic

60.3

23.1

Total

75.3

288.2

1Q FY2024
Large-scale Low Carbon LNG Plants (UAE)
Major New Contracts© 2024 JGC HOLDINGS CORPORATION

Enhancing planetary health

8This is the summary of new contracts in the total engineering business. New
contracts for the 1st quarter stood at 288.2 billion yen overall.
We recorded an award due to the activation of the order contract for a large
scale low-carbon LNG plant in UAE.

Segment Informationii) Outstanding Contracts (As of June 30, 2024)
By Business Area

By Region

Healthcare & Life Science【Unit: Billions of Yen】
Clean Energy & Others
Urban Infrastructure &Industrial & Others
6%
1%
6%
Chemical
12%1432.3

Oil & Gas
39%

LNG
36%

1Q FY2024
Major
OutstandingContracts【Unit: Billions of Yen】

Americas &Others
14%Japan13%

1432.3

Asia
16%Middle East
57%

Over 100 Billion Yen

Over 50 Billion Yen

Over 30 Billion Yen

Large-scale Low Carbon LNG Plants(UAE)
Gas Oil Separation Unit (Saudi Arabia)
Oil Refinery Modernization (Iraq）
Nearshore Floating LNG Plant(Malaysia)
Large-scale Ethylene Plants (The U.S.)

LNG (Canada）
Dew Point Control Unit(Saudi Arabia)

LNG Terminal Facilities (Taiwan)
VCM, PVC, and OSBL Expansion(Thailand)
ATMPs and mRNA Vaccine Ingredients(Japan)© 2024 JGC HOLDINGS CORPORATION

Enhancing planetary health

9The order backlog stood at 1,432.3 billion yen at the end of June.
By sector, oil and gas decreased to 39%, while LNG increased to 36%.
By region, the Middle East accounted for 57% of the total, primarily due to theaward of a project in UAE.

Financial Position【Unit: Billions of Yen】

As of March 31,

As of June 30,

2024

2024

Difference

Current assets

603.5

632.5

+29.0

Non-current assets

188.7

195.2

+6.5

Total assets

792.2

827.8

+35.5

Current liabilities

350.7

374.2

+23.5

Non-current liabilities

53.6

55.2+1.5Total net assets

387.8

398.3

+10.4

Equity ratio

48.7%

47.9%

△ 0.8pt

148.1

145.7

△ 2.4

Off Balance Sheet JV CashJGC Portion© 2024 JGC HOLDINGS CORPORATION

Enhancing planetary health

10This is the consolidated financial position.
Due to the increase in cash deposits from project progress payments, total
assets increased by 35.5 billion yen from the beginning of the period to 827.8
billion yen.
The equity ratio is 47.9%, and our share of the off balance sheet JV cash is145.7 billion yen.

Forecasts for FY202411

Next, I will explain the forecasts for fiscal year 2024.

Forecasts for FY2024
Full year forecast remains unchanged.

【Unit: Billions of Yen】

FY2024
Forecast

1Q FY2024
ActualProgressRate

New contracts *970.0

288.2

30%

Net sales

830.0

204.1

25%

Gross profit

58.0

15.5

27%

Profit ratio

7.0%

7.6%

Operating profit

26.0

8.1

31%

Ordinary profit

34.0

17.6

52%

Profit attributable toowners of parent

23.0

12.3

53%

Annual dividends per share¥40.0Forecasts based on (\/US$)¥145.00* Total Engineering© 2024 JGC HOLDINGS CORPORATION

Enhancing planetary health

12

There are no changes to the full-year forecast.
The 1st quarter results, including order intake, sales, and operating profit, areprogressing smoothly in line with the full-year forecast.
Ordinary profit has progressed to 52%, mainly due to the favorable impact ofexchange rates. At the end of the 1st quarter, the JPY exchange rate
temporarily depreciated significantly to 161.07 yen per US dollar.
We take assumption of exchange rate of 145 yen per US dollar for the 2ndquarter and beyond until the end of the fiscal year.
The rate is same as at the previous announcement in May.
This concludes my overview of the financial results.

Cautionary Statement
This presentation may contain forward-looking statements that reflect JGC’s plans and expectations.
Such statements are based on currently available information and current assumptions of future
events which may not prove to be accurate. Such statements are also subject to various risks anduncertainties that could cause actual results to differ materially from those forward-looking
statements.
JGC Holdings Corporation undertakes no obligation to update any forward-looking statements after
the date of this presentation. These potential risks and uncertainties include, but are not limited to:•changes in general economic conditions, including foreign currency exchange rates, interest rates
and other factors that could affect our profitability•changes in government regulations or tax laws in jurisdictions where we conduct business

For questions concerning this material, please contact:
Strategy Planning Office
Strategic Planning Unit
Corporate Communication GroupJGC Holdings Corporation
Tel: 81-45-682-8026 Fax: 81-45-682-1112
Email: ir@jgc.com© 2024 JGC HOLDINGS CORPORATION

Enhancing planetary health13