Business Overview
Initiatives for Revitalization and the Future

November 2, 2023
Chiyoda Corporation（Stock code: 6366）© Chiyoda Corporation 2023, All Rights Reserved.

AGENDA：
1. Executive Summary
2. New Orders
3. Major Ongoing
Projects

4. Business Portfolio
Transformation
5. Sustainability

Our SDGs Materiality

1

1 Executive Summary

2

Executive Summary
Priorities for FY2023(Final year of the 5 Year Plan)

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Progress of the First Half

Strengthening financial position
through profit earnings bysteadily executing JPY 1.1 trillion
Project Backlog➢ Generating stable earnings byexecuting ongoing projects asplanned

Accelerating business portfoliotransformation via continuing
growth in new business areas➢ Accumulating orders, mainly in thedecarbonization field➢ Accelerating new business initiatives,
including commercialization ofhydrogen business

Revenue

Operating Profit

Steadily executes ongoing projects Further improves earnings structure[Billions of yen]
500430400▶

20030380
310

300

450

310

20272
Progress:
60%
1010000

FY2019 FY2020 FY2021 FY2022 FY2023

ProfitHigh level and stable profit[Billions of yen][Billions of yen]
202019181715151615 ▶
15201412181312111010989Progress:
81111758%
Progress:
6754% 5 5432100▲1(12.6)*
FY2019 FY2020 FY2021 FY2022 FY2023
FY2019 FY2020 FY2021 FY2022 FY2023

27* The figure includes Extraordinary Losses of JPY 20.4 billion related to the project losses by settlement of lawsuitwith a client.

32New Orders

4New Orders / Results for 1H and Forecasts for 2H
Increasing orders, mainly in Japan’s decarbonization and life science fields,
where a strong appetite for capital spending is demonstrated, leading tobusiness portfolio transformation.
FY2023 1HBusiness

FY2023 2H

135 Billion Yen

New Orders

Full Year
Target300 Billion Yen（Progress: 45％）
➢ Steady growth mainly in new businessprojects

Domestic

101 Billion Yen[Major projects awarded] • Biopharmaceutical••Battery energy storage
Advanced materials

manufacturing• Synthetic fuel(e-fuel)etc.

Overseas

33 Billion Yen➢ Enhancing the Group's overall strength
through collaboration with Chiyoda XONE Engineering Corporation*[Projects in focus]• Decarbonization • Life science etc.
• Advanced materials➢ Focusing on activities to generate futureorders such as strengtheningpartnerships.
➢ Change orders from clients[Major projects awarded]• Change orders from clientsfor ongoing projects
etc.

250 Billion Yen

50 Billion Yen[Projects in focus]• LNG• Hydrogen, decarbonization etc.

* Chiyoda X-ONE Engineering Corporation was established in April 2023 from the mergerof three group companies.

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3

Major Ongoing Projects

61. Tangguh LNG Expansion, Indonesia

Handover to the client in August, 2023
✓ 3.8 MMTPA* mega - project. Contributing to stable energy supply in Indonesia and Japan.

Courtesy of BP Berau Ltd.
* Million Metric Tonne per Annum7

2. NFE LNG, Qatar

Construction ongoing.
Equipment installation commenced.
✓ Mr. Sakakida, President,
Chairman of the Board & CEOof Chiyoda Corporation,accompanied Japan’s Prime
Minister Kishida on a visit tothe Middle East
✓ Mr. Sakakida had the pleasure of
an audience with Emir Tamim at
the Royal Palace of Qatar, andwas delighted by his encouraging
sentiments regarding thecontinued steady progress of theNFE LNG project.
As of March 2023, Courtesy of Qatargas

83. Other Major Projects
Golden Pass LNG, USAEngineering and procurement arein the final stage.
Construction ongoing.

Courtesy of Golden Pass LNG

Copper Smelting Plant, Indonesia

Construction is at its peak.
Completion is scheduled for 2024.

Courtesy of P.T. Freeport Indonesia

94 Business Portfolio Transformation

101. Energy Management BusinessAwarded EPC contracts for two large-scale batteryenergy storage facilities for ENEOS Corporation✓ Battery energy storage will be crucial to resolving issues in expanding the introduction of renewableenergy, such as stabilizing the power supply and demand balance and power output fluctuations.
✓ Contributing to the realization of a decarbonized society through the execution of these projects
by leveraging our experience in the early completion of one of the world’s largest battery energy
storage facilities in Hokkaido*1Location

Muroran City, Hokkaido
Ichihara City, Chiba
北豊富変電所蓄電池システ
Muroran Plant of ENEOS Corporation
Chiba Refinery of Osaka International Refining Co, Ltd. *2

ムBattery energy
output/capacity

Construction started in
Operation starts in

50 MW / 88 MWh

100 MW / 202 MWh

July 2022

August 2023

FY 2023 (planned)

FY 2025 (planned)

Exterior view ofthe energy storage
facilities*3Left: Under construction
Right: Completion image*1 Completion of the Engineering, Procurement and Construction of a Battery Energy Storage System
in Hokkaido Prefecture, Japan, April 14, 2023

*2 A group business of ENEOS Corporation*3 Source: ENEOS Corporation press release on August 17, 2023

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2. Advanced Materials
Awarded an EPC contract for an advanced materials
production facility by Kureha Corporation✓ EPC contract for the monomer process for a polyvinylidene fluoride (PVDF)
production facility. One of the largest investments ever for Kureha.
✓ The project enables Chiyoda to contribute to the domestic production and supply ofenergy storage batteries, vital to the electrification of automobiles, renewable energy
and the realization of a decarbonized society.

PVDF “KUREHA KF POLYMER”（Image on the left ）✓ Key material for energy storage batteries(lithium-ion batteries, LiBs).
✓ Growing demand for LiBs in automotive
market due to expansion of electricvehicles in response to increasing
environmental awareness.
Source: Kureha Corporation Website

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3. Hydrogen BusinessAccelerating multilateral endeavors to create ahydrogen energy-based society✓ Mr. Sakakida, Chairman of the Board, President & CEO, delivered a speech at‘Yomiuri Carbon Neutral Day’ on August 30, 2023*1.
✓ Promoting a multilateral approach including cost reduction initiatives to the creationof a hydrogen value chain, comprising production, storage & transportation,
distribution & consumption.
Production• Production of MCH*2• Hydrogen production by methane pyrolysis
in collaboration with Chubu Electric Powerand Hazer (Australia)

Transportation/ Storage• Promoting the commercialization of aninternational supply chain utilizing
Chiyoda's expertise in transporting andstoring hydrogen in the form of MCH

Use• Hydrogen is catalytically extracted from
MCH (using Chiyoda’s proprietarydehydrogenation catalyst)• Sustainable fuels and direct MCH fuel cell

Cost reduction initiatives➢ Improving dehydrogenation
catalyst performance
Demonstration plantcurrently under construction(Courtesy of Hazer)➢ Exploiting waste heat fromsurrounding facilities fordehydrogenation reaction(heat integration)

北豊富変電所蓄電池システム
Dehydrogenation plant in
Keihin Refinery, TOA Oil*3➢ Optimizing the entire waterelectrolysis facility*1 A video of the speech is available on the “Yomiuri Shimbun Online Carbon Neutral Project Special Site”.
*2 Methylcyclohexane is a hydrogen carrier produced by the chemical reaction of toluene and hydrogen and is liquid at room
temperature and pressure.
*3 Source: Advanced Hydrogen Energy Chain Association for Technology Development / International hydrogen supply chain(Brunei-Kawasaki) demonstration facility

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4. O&M-X* Solution Business

Commencing plantOS™ Services✓ Chiyoda provides hybrid Operation & Maintenance (O&M) solutions that combine cyber andphysical technologies by uniting Chiyoda’s advanced diagnosis and analysis service expertisewith the latest digital technologies and by leveraging the collective strength of the Group incollaboration with Chiyoda X-ONE Engineering Corporation.
✓ We contribute to ‘Business Safety’ (safe and secure business activities) by resolving problems
such as labor shortages, obsolete facilities and technical succession.
■ ImageClients
Safe and secure business activities (Business Safety)

Physical services Construction planning

Condition monitoring
Documentation and data management&Spare parts management
Partners
Purchasing & procurement

Routine maintenance
Shut Down MaintenanceConstruction process management

Digital services
Sensors, IoT solutions

Consultation

Digital twin solutions
V-SuiteSupport for upgrading facility maintenance:analysis and diagnosis
BCP (Business Continuity Plan)

Enterprise Asset Management(EAM) solutions

Support for advanced operation: yield and efficiency
improvement
Implementation of smart factories* Operation & Maintenance – Transformation

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5Sustainability

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1. Reducing Supply Chain CO₂ Emissions
Promoting cleaner energy with LNG
Chiyoda continues contributing to the reduction of supply chain CO₂ emissions by focusing on
the production of more environmentally friendly LNG, a major concept during the increasing
demand for a stable energy supply and the transition towards renewable energy.
▶ NFE LNG, Qatar <EPC ongoing>▶ Freeport LNG, USA <EPC completed>【 Typical LNG Plant 】: Through a large CCS* facility and Waste Heat Recovery Units,: the LNG Trains will emit 25% less CO₂ than existing similar type: mega-trains when fully operational.
: Electric motor drives (E-Drive) are adopted in the cooling system in: lieu of conventional gas turbine drive types, and CO₂ emissions are: reduced by 48%.

Freeport LNG, USA
CO₂ reduction

Electric motor （E-Drive）
Liquefaction/Refrigeration

FeedGasAcid Gas
RemovalLNG
Gas TurbineDriver

Refrigerant Compressor

NFE LNG, Qatar

CCS facility
20% reduction will be achieved（CO₂ Compression）
through a large CCS facility
where CO₂ is extracted andcompressed from the feed gas
for re-injection underground,avoiding discharge to theCO₂ storage
atmosphere.

Waste Heat
Recovery Units

Heat generation

kFurnace

削減

CO₂ reduction

5% reduction is achieved throughimproved energy efficiency using
Waste Heat Recovery Units
installed on Gas Turbine Generator
exhausts to recover heat from fluegases.

* Carbon dioxide Capture and Storage

162. Chiyoda Group’s PurposeEnriching Society through Engineering Value

17Enriching Society through Engineering Value

Chiyoda Corporation Corporate Services Department IR, PR & Sustainability Advanced 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 factors
such 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 2023, All Rights Reserved.