Presenters

Mr. Masakazu
Sakakida Chairman ofthe Board, President &CEOMr. Koji Tarutani
Executive Vice President& CFO
0This presentation outlines Chiyoda Corporation’s (Chiyoda)
financial results for the second quarter of the fiscal year
ending March 31, 2023, released on November 8, 2022.

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First section is the Financial Results.

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1.

2.

Financial Results•Revenue and profit increased YoY in the secondquarter.

•Accelerating project progress in the second half of thefiscal year and we expect to achieve the full year
forecast.

Countermeasures Against Global Inflation
Minimizing project impacts through cooperation anddiscussion with clients and partners.

3.

Growth Strategy
Global business development withhydrogen supply chain in Singapore.

aninternational3

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Revenue and profit increased YoY.



Revenue was 184.3 billion JPY, an increased of 36.9 billion JPY YoY.

Gross profit was 12.1 billion JPY, an increased of 0.2 billion JPY YoY. Grossprofit margin was 6.6%.

SG&A expenses were 5.9 billion JPY, an increased of 0.3 billion JPY YoY.

Operating income was 6.1 billion JPY, a decrease of 0.2 billion JPY YoY.
Ordinary income was 6.6 billion JPY, an increased of 0.6 billion JPY YoY.

Net profit was 5.3 billion JPY, increased from the same period last year.

In the second half of the fiscal year, large scale project progress
accelerates, accumulating revenue and profit to achieve the full yearforecast.

4The blue bar shows the result of FY2022 2Q, and the graythe previous year 2Q.

Gross profit, SG&A expenses and operating income arealmost the same YoY.

Gross profit increase by 0.2 billion JPY YoY. Gross profit was
8.7 billion yen and 3.4 billion JPY in the energy and global
environment business fields, an increase of 0.1 billion JPY
respectively.

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

Total assets increased by 16.4 billion JPY from the end oflast fiscal year.
•

Jointly controlled assets of JV in total assets and notes
payable, accounts payable for construction contracts
and contract liabilities in liabilities increased as
ongoing project progressed.

•Accounts receivable - other in total assets andaccounts payable – other in liabilities decreased, due
to an out of court settlement with a subcontractor onIchthys LNG in Australia (construction complete in April2022). The decreased amount of account receivable –other is relatively large as the received amount isrecorded as short-term fund operation in other current
assets.

Shareholders equity was 18.1 billion JPY, an increased of
2.4 billion yen.

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New Orders received was 46.1 billion JPY and the orderbacklog was 1,359.8 billion JPY.

Major projects in the order backlog include NFE LNG inQatar, Golden Pass LNG in the USA and the Tangguh LNGExpansion project in Indonesia in the energy sector and acopper smelting project in Indonesia and a plant for
manufacturing biopharmaceuticals substance manufacturing
plant and energy storage system facility in the globalenvironment sector.

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This is a summary of Revenue and Backlog Breakdown forreference.

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Next section is the Growth Strategy.

9Chiyoda commenced Pre-Front End Engineering Design fora clean hydrogen supply chain in Singapore with Sembcorp
Industries, a leading integrated utilities and governmentaffiliated conglomerate in Singapore, and MitsubishiCorporation.

Commercial operation will commence in 2026.

The production capacity is approximately 60 kilotonnes peryear, doubling the current renewable energy output inSingapore.

We aim to establish the largest clean hydrogen supply
business in Asia.

Detailed discussions are ongoing to construct a commercial
scale international hydrogen supply chain in The

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Netherlands as a gateway to import hydrogen into Europe
using our competitive ‘in-house’ SPERA HydrogenTM
technology.

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Economy, Trade and Industry Minister Nishimura visited thedehydrogenation plant in Kawasaki in October 2022.

Chiyoda explained our global hydrogen supply chain
demonstration, successfully completed by the Advanced
Hydrogen Energy chain Association for technology
Development in 2020 and subsidized by the New Energy
and Industrial Technology Development Organization,storing and transporting hydrogen at ambient temperatureand pressure using methylcyclohexane (MCH).

Mr. Nishimura showed a keen interest in hydrogen, asking
many insightful questions about SPERA HydrogenTM and thedemonstration. Immediately following the visit, Mr. Nishimura
tweeted his high expectations for MCH technology in hisSNS account ‘NISHIMURA Yasutoshi’.

11Chiyoda is accelerating early construction of a globalhydrogen supply chain using its competitive ‘in-house’
SPERA HydrogenTM technology.

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In January 2022, Business alliance made between Chiyoda
and the Indonesian national energy company PT Pertamina(Persero) , to collaborate on decarbonization in support of
the net-zero emissions drive.

In September, Chiyoda and Pertamina commenced a joint
feasibility study for the deployment of large scale carbon
dioxide capture and storage technology in Indonesia.

The study include the construction and operation of facilities
to capture, transport and store 1 million tons per year of CO2over 20 years produced as a by-product from a newly
constructed dimethyl ether production plant in Indonesia.

Supported by the Ministry of Economy, Trade and Industry
Japan as the bilateral cooperation agreement, strengthening
the relationship between Japan and Indonesia.

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Chiyoda commenced strategical collaboration with German
Clean Tech company INERATEC GmbH (INERATEC) on an
e-fuel project to accelerate decarbonization in September2022.

We aim to realize joint e-fuel manufacturing projects,
including Sustainable Aviation Fuel in Japan and the AsiaPacific, combining INERATEC’s innovative and space-saving
Power-to-X technology with Chiyoda’s engineering expertizeand project execution expertise.

13Japan Bank for International Cooperation Managing Director
Mr. Tadashi Maeda visited the world’s largest EnergyStorage System Facility construction site in August 2022.

Chiyoda is executing the facility’s engineering, construction,
study work and 20 year maintenance, contributing toregional revitalization while developing regional utility
businesses through combined wind power renewable energy
and energy storage projects.

Mr. Maeda was appointed Special Advisor to the Cabinet on
September 1, 2022, and is responsible for overseas
business investment support. Chiyoda regards it as an honor
to assist government measures to support Japanesecompanies’ overseas deployment of renewable energy andenergy storage system.

14 A system to improve bio-based productivity and reduce
production cost.
 Subsidized by NEDO, Chiyoda develops large-scale
production technology and plant functional protein
systems through industry-academia collaboration,compatible for human application assuming applicationin the quasi-drug area.
 Chiyoda aims to horizontally develop the bio-foundry
field, leveraging production processes, demonstrated
by the development of large-scale production
technology utilizing technical integration in the energy
field and scale-up expertize.

15PlantStreamTM automatically designs pipes and cables inbasic engineering using Computer Aided Design,
accelerating 3D model creation by up to five times andreducing the process by approximately 80%.

Converts the expertise of skilled plant and space design
engineers into algorithms across the entire engineering
process.

PlantStreamTM has been licensed to over 10 domestic andinternational petrochemical and engineering companies
since its launch 18 months ago, with a further 20 considering
introduction.

The ‘in-house’ implementation of PlantStreamTM adds to
Chiyoda’s competitiveness.

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PlantStreamTM was awarded first-place in the ‘good digitalaward’ start-up category by The Digital Agency in September
2022.

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Last section is the latest update of Major Ongoing Projects.

17Projects are steadily progressing.

The NFE LNG
construction.

projectinQatar

has

commenced18

 Construction of the copper smelting project in Indonesia isprogressing.

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Please address inquiries to:IR, PR & Sustainability Advanced Section, Corporate Services Department:
Tel. +81-45-225-7734

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