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

The presentation was held in Japanese.

November 12, 2021

This document is a translation/summary

IR, PR & CSR Section

for reference only.

Corporate Services Department
Chiyoda Corporation

Summary of the Second Quarter Financial Results Briefing
for Fiscal Year Ending March 31, 2022
The following is a summary of a presentation (telephone conference) outlining Chiyoda Corporation’s(Chiyoda) financial results for the second quarter of the fiscal year ending March 31, 2022, releasedon November 5, 2021. Please also refer to the ‘Financial Results for the 2nd Quarter of Fiscal YearEnding March 31, 2022’ on our website.

Ⅰ. Financial Results (P2)
1. Highlights (P3)

Revenue, gross profit, operating income and ordinary income progressed as forecast.

New orders include a copper smelting plant awarded in Indonesia in July 2021 and exceedforecasts.

2. Income Statement (P4)
Revenue was 147.4 billion JPY, 49% of the full year forecast.

Gross profit was 11.9 billion JPY, 46% of the full year forecast. Gross profit margin was 8.1%, animprovement of 1.2 points YoY.

SG&A expenses were 5.6 billion JPY, a reduction of 0.3 billion JPY YoY, 38% of the full yearforecast.

Operating income and ordinary income were 6.3 billion JPY and 6.0 billion JPY respectively, 57%
and 67% of the full year forecast respectively. Both increased YoY.

Net profit (loss) was negative 15.3 billion JPY. Extraordinary losses of 20.4 billion JPY wererecorded in the 1st quarter on the premise of an out-of-court settlement with the client related tothe Ichthys LNG project. In the 2nd quarter, a profit of 1.9 billion JPY was recorded. An out-of1

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

court settlement was agreed with the client in October 2021, with no additional loss recorded.
3. Profit Analysis (P5)Gross profit was 11.9 billion JPY, an increase of 0.8 billion JPY YoY. In the global environment
business and energy business fields, gross profit stood at 3.3 billion JPY and 8.6 billion JPY
respectively. Gross profit in the global environment field, especially new business fields such as
life science, contributed to the increase.

SG&A expenses decreased by 0.3 billion JPY YoY.

As a result, operating income was 6.3 billion JPY, an increase of 1.1 billion JPY YoY.

4. Balance Sheet (P6)

Total assets were 303.0 billion JPY as of September 30, 2021, a decrease of 26.6 billion JPY
from 329.6 billion JPY as of March 31, 2021. As execution of ongoing projects proceeds, cashand deposits decreased, while jointly controlled assets of JV increased as execution of NFE
project in Qatar commenced. To balance, operating liabilities decreased.

Shareholders equity was 14.1 billion JPY as of September 30, 2021, a decrease of 22.3 billion
JPY from March 31, 2021, due to extraordinary losses related to the Ichthys LNG project in the1st quarter. In the 2nd quarter, 1.9 billion JPY profit was recorded, increasing shareholders equity
by 1.9 billion JPY from 12.4 billion JPY as of June 30, 2021.

5. New Orders / Backlog (P7)
New orders stood at 361.2 billion JPY, 120% of the full year forecast, comprising 22.7 billion JPY
in the energy field and 338.5 billion JPY in the global environment field. New orders in the global
environment field include a copper smelting plant in Indonesia and the pharmaceutical business.

The order backlog was 1,332.4 billion JPY. Major projects include NFE LNG, Golden Pass LNG,and Tangguh LNG in the energy field, a copper smelting plant in Indonesia, a vaccine constituent
producing facility, an energy storage system and a biomass firing power plant in the globalenvironment field.

Att. 1, 2, 3 Breakdown of Revenue, New Order, and Backlog (P8-P10)(Explanation Omitted)
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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

Ⅱ. Growth Strategy (P11)
1. Copper Smelting Plant Commenced (P12)Awarded in July 2021. Engineering and procurement is ongoing in Chiyoda Global Headquarters
in Yokohama. Construction commenced in September 2021. A ground-breaking ceremony washeld in October 2021, attended by President Joko.

The Indonesian government is a principal shareholder of P.T. Freeport Indonesia, the project’sclient. The photographs in the slide are scenes of the ground-breaking ceremony and the site
visit by President Joko.

Copper is an indispensable material towards an electric society or a carbon-free society. The
copper smelting facility includes the world’s largest single line production capacity. Chiyoda istargeting project completion in 2024, exploiting its experience and expertise constructing a similarcopper smelting plant in Indonesia.

2. Hydrogen Business (P13)
Introduction of major five initiatives for commercialization of Chiyoda’s competitive SPERA
HydrogenTM.

01: Together with Sumitomo Corporation, Toyota Motor Corporation and others, Chiyoda wasappointed by the New Energy and Industrial Technology Development Organization (NEDO) toconduct a joint feasibility study for receiving and distributing imported hydrogen in Chubu.



02: The Advanced Hydrogen Energy Chain Association for Technology Development (AHEAD)
commenced supplying the ENEOS Corporation (ENEOS) with hydrogen produced in Brunei.
ENEOS uses the hydrogen for demonstration in its petroleum refineries in anticipation of ahydrogen-oriented society.

03: Together with ENEOS and the Queensland University of Technology, Chiyoda succeeded in
producing CO2-emission free hydrogen directly from water and toluene, and transported it toJapan to drive electric fuel cell vehicles (FCV). By producing methylcyclohexane (MCH) directlyfrom water and toluene through electrochemical synthesis, MCH production costs are drasticallyreduced. Chiyoda’s aim is to develop and implement commercial-scale CO2-emission freehydrogen production technologies.
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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



04: A joint study with the Port of Rotterdam Authority and Mitsubishi Corporation (MC) to develop
an international hydrogen supply chain, aiming for the port to become a hub in Europe forimporting hydrogen.

05: Signed a Memorandum of Understanding (MOU) for a strategic partnership with Sembcorp,a Singaporean government-affiliated conglomerate, and MC to develop an international hydrogen
supply chain.

3. Life Science (P14)Having completed one production line in March 2021, Chiyoda is executing the EPC for additionallines and affiliated facilities in a Coronavirus Vaccine Constituent Production Facility forSHIONOGI & CO Ltd.

4. Digital Transformation (P15)Chiyoda deploys its EFEXISTM brand, digital AI solutions to optimize client autonomous plantoperations.

At Gastech 2021, the world’s largest international conference of Natural Gas and LNG held in theUAE, Chiyoda and the Abu Dhabi National Oil Company (ADNOC LNG) gave a presentation
detailing the positive effects of Chiyoda’s Foaming Prediction AI System, an EFEXISTM digitalsolution.

Since signing an MOU with ADNOC LNG in 2018, Chiyoda has developed the AI system byintegrating operational data from ADNOC LNG’s existing LNG plants to stabilize and optimize
their operation by predicting foaming during acid gas removal.

Chiyoda is further accelerating its digital transformation business.

Ⅲ. Major Ongoing Projects (P16)
1. Major Ongoing Projects (Energy) (P17)All ongoing projects are proceeding as planned.

A Texas Ethylene project in the USA is mechanically complete as planned.
4Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en

The NFE LNG project in Qatar is progressing.

2. Major Ongoing Projects (Environment) (P18)
The slide shows major ongoing projects in global environment fields (not including a copper
smelting plant in Indonesia).

Chiyoda is executing large-scale projects as planned in every field of its growth strategy: life
science, energy management and renewable energy.

-EndPlease address inquiries to:
IR, PR & CSR 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 todepend solely on these projections for making investment decisions.

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