Financial Results forthe 1st Quarter of Fiscal YearEnding March 31, 2024
(FY2023 1Q)
August 2, 2023
Chiyoda Corporation© Chiyoda Corporation 2023, All Rights Reserved.

Our SDGs Materiality

Enriching Society through Engineering Value

1. Highlights
2. Income Statement
3. Profit Analysis
4. Balance Sheet
5. New Orders / Backlog
6. Major Topics[Att-1] Revenue / Backlog Breakdown[Att-2] Results History11. Highlights

1. Increased business profitability
Increased income and profits compared to the same period last year
Continuing to build on a robust start to FY2023, similar to FY2022
when we achieved the highest annual profit for 10 years

2. Stabilizing the profit-making baseAiming to achieve high and stable profit levels for two consecutive
terms by consistently executing existing projects, accumulating
businesses in new business fields and optimizing resource allocation

3. Progress in new business fields
Participating in the planning of demonstration/basic engineering
projects, mainly in the carbon neutral field, to create business
opportunities for new projects
22. Income Statement
Billions of JPY

FY2022
1Q

FY2023Difference
1Q

Full Year
ForecastProgress

Revenue

75.7

129.4

53.7

450.0

29%

Gross Profit

6.5

8.4

1.9

35.0

24%

Gross Profit Margin

8.6%

6.5%

(2.1pt)

7.8%-SG&A Expenses

(2.8)

(3.3)

(0.6)

(15.0)

22%

Operating Income

3.8

5.1

1.3

20.0

25%

Ordinary Income

3.5

6.5

2.9

20.0

32%

Profit*

2.2

4.9

2.7

15.0

33%

Exchange Rate
JPY/ USD

137

145

130

* Profit attributable to owners of parent

33. Profit Analysis
Billions of JPY

FY2022 1Q
FY2023 1Q

Gross Profit
6.5

8.4(+1.9)

SG&A Expenses
(2.8)

(3.3)
((0.6))

Operating Income

3.8

5.1
(+1.3)

3.2

3.9
Energy5.2
GlobalEnvironment(2.6) ： Compared to FY2022 1Q results

44. Balance Sheet
Billions of JPY

FY20224Q

FY2023
1Q

Difference

383.0

379.3

(3.6)

Cash and Deposits

61.2

70.5

Operating Assets*¹

58.6

Jointly Controlled
Assets of JV *²

FY20224Q

FY2023
1Q

Difference

Current Liabilities

356.3

341.0 (15.2)

9.3

Operating Liabilities*3

292.7

285.5

(7.2)

64.9

6.2

Provision for Loss on
Construction Contracts

27.9

24.8(3.1)

161.6

164.5

2.8Non-Current
Liabilities

28.0

30.0

2.0

Non-Current
Assets

23.6

23.4

(0.2)

Net Assets

22.3

31.7

9.4

Total Assets

406.6

402.7

(3.8)

Total Liabilities andNet Assets

406.6

402.7

(3.8)

Shareholders’ Equity

22.2

31.6

9.4

Shareholders’ Equity
Ratio

5.5%

7.8% +2.4pt

Current Assets*1 Operating Assets： Notes receivable, accounts receivablefrom completed construction contracts and contract assets +Costs on construction contracts in progress
2* Jointly Controlled Assets of JV： Cash and deposits of joint
venture proportional to Chiyoda’s interest3* Operating Liabilities： Notes payable, accounts payable forconstruction contracts + Contract liabilities

55.2New Orders / Backlog
Billions of JPY

FY2023 1Q New Orders

FY2023 1Q Backlog

Energy9.1

827.3

GlobalEnvironment

25.4

301.3

Total

34.4

1,128.6【Major Backlog Projects】
More than
JPY 100.0 billion
EnergyGlobalEnvironment••

NFE LNG, Qatar

Copper Smelting Plant,
Indonesia

More than
JPY 5.0 billion••

Golden Pass LNG, USA
Tangguh LNG Expansion,
Indonesia••CO2 Methanation Facility, Japan
Biopharmaceutical
Manufacturing Plant, Japan
1 Barrel per Day Synthetic Fuel
Demonstration Facility, Japan•66-1. Major Topics~Ongoing Overseas Projects~

Tangguh LNG Expansion, Indonesia

Golden Pass LNG, USAConstruction is in the final stage and approaching completion.

Construction ongoing

Courtesy of BP Berau Ltd.

Courtesy of Golden Pass LNG

NFE LNG, Qatar

Copper Smelting Plant, Indonesia

Engineering, procurement and construction ongoing

Engineering, procurement and construction ongoing

Courtesy of QatarEnergy

Courtesy of P.T. Freeport Indonesia

76-2. Major Topics ~New Projects in the Carbon Neutral Field ~Participating in demonstration and basic engineering projects aiming for social
implementation of technology centered on the carbon neutral field. Accumulating expertiseand cooperating with clients from the demonstration stage, leading to project award.
1 CO2 Methanation Facility Construction[Client: INPEX CORPORATION]
 Methanation technology*1 is a key
component for gas decarbonization.
 One of the world’s largest facilities(Synthetic methane production
capacity: approx. 400Nm3-CO2/h)# Client’s technical development
project subsidized by NEDO*2

1 Barrel per Day Synthetic Fuel
2 Demonstration Facility Construction[Client: ENEOS Corporation]
 Contributing to early technology
development of synthetic fuelmanufacturing process fromhydrogen and CO2
 Chiyoda is executing the EPC fora demonstration plant.

From INPEX CORPORATION
press release on June 16, 2023

FEED*3 for a CO2 to CO Chemical
3 Transformation Plant[Client: SEKISUI CHEMICAL CO., LTD.]# Client’s project selected as partof NEDO Green Innovation Fund

From ENEOS Corporationpress release on April 19, 2022

Large-scale Ammonia Decomposition
4 Catalyst Technology Development[Joint operators: JERA Co., Inc. and NIPPON SHOKUBAI CO., LTD.]

 Engineering CO2 capture plant with more than 90% efficiency
transforming CO2 to CO technology

 Targeting the development of competitive ammonia cracking
technology to utilize ammonia as a hydrogen carrier# Client’s project selected as part of NEDO Green Innovation Fund

# A catalyst development project*4 subsidized by NEDO

*1 Methane synthesis technology from CO2 and hydrogen*2 New Energy and Industrial Technology Development Organization *3 Front End Engineering Design*4 ‘Development of Technologies for Building a Competitive Hydrogen Supply Chain’ program

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[Att-1] Revenue and Backlog Breakdown
Billions of JPY

FY2023 1Q Revenue

FY2023 1Q Backlog【Business】【Business】

ENERGY

827.3

73%

LNG Plant, Gas Related Work

800.9

71%

5%

Refinery, Petrochemical

26.4

2%

51.1

39%

301.3

27%

7.6

6%

36.1

3%

43.5

34%

ENVIRONMENT
Pharmaceutical, Biochemistry,
ChemicalEnvironment, New Energy,
Infrastructure, Others

265.2

24%

129.4

100%

TOTAL

1,128.6100%

1,025.7

91%

78.3

61%

LNG Plant, Gas Related Work

71.8

55%

Refinery, Petrochemical

6.5

ENVIRONMENT
Pharmaceutical, Biochemistry,
ChemicalEnvironment, New Energy,
Infrastructure, Others
TOTAL

ENERGY【Region】【Region】
OVERSEAS

113.0

87%

Middle East & Africa

50.3

39%

Middle East & Africa

689.4

61%

Americas

14.1

11%

Americas86.7

8%Asia & Oceania

48.6

38%

Asia & Oceania

249.5

22%

Others0.00%

Others

0.00%

DOMESTIC

16.4

13%

DOMESTIC

102.9

9%

129.4

100%

1,128.6

100%

TOTAL

OVERSEAS

TOTAL

9[Att-2] Results History
Billions of JPY

Revenue

Gross Profit
42.8

430.2

385.9

450.0
32.7

315.4

35.0

311.1
20.1

22.8

129.4
1Q result[Progress 29%]FY2019

FY2020

FY2021

FY2022

FY20238.4

FY2019FY2020Operating Profit

FY2021

FY2022

FY202315.2

15.0

1Q result[Progress 24%]

Profit26.8
18.1

12.2

20.0

8.0
4.9

10.5
7.0

FY2019FY20205.1

FY2021

FY2022(12.6)*

1Q result[Progress 25%]

FY2023

FY2019FY2020

FY2021

FY2022* The figure includes Extraordinary Losses of JPY 20.4 billion related to the project losses
by settlement of lawsuit with a client.

1Q result[Progress 33%]

FY2023

10Energy and Environment in Harmony

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.

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