Presenters

Mr. Masakazu
Sakakida Chairman ofthe Board, President &CEO

Mr. Koji Tarutani
Executive Vice President& CFO

0This presentation outlines Chiyoda Corporation’s (Chiyoda)
financial results for the third quarter of the fiscal year ending
March 31, 2023, released on February 2, 2023.

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Full Year Forecast Revised
The full year financial forecast was revised upward due to:2.

•Steady progress on ongoing projects•Accumulated profits in new business fields such as lifescience•Improved project profitability from risk sharing withclients

Countermeasures Against Global Inflation
Chiyoda stabilizes income and reinforces risk control byminimizing the influence of inflation on ongoing andprospective projects through cooperation with clients andpartners.

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Domestic Business Reinforcement‘CHIYODA X-ONE Engineering Corporation’ will beestablished in April 2023 by merging three groupcompanies, offering a one-stop service from EPC tooperation and maintenance engineering.
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Revenue and Profit increased YoY.

Revenue was 308.5 billion JPY, an increase of 91.4 billion JPYYoY.

Gross Profit was 23.5 billion JPY, an increase of 6.7 billion JPY
YoY. Gross Profit Margin was 7.6%.

Operating Income was 13.6 billion JPY and ordinary income was
15.6 billion JPY, significant YoY increases, although SG&Aexpenses increased YoY.

Net Profit was 12.5 billion JPY, achieving the full year forecast of
11.5 billion JPY at the beginning of the term. The figures in thetable show the full year forecast revised on January 31, 2023.

Progress ratios up to Operating Income are less than 70%.
However in 4Q, income is expected to accumulate due toconstruction progress on large overseas projects and steadyprogress on domestic projects.

Ordinary Income and Profit achieved 78% and 84% progress
respectively.

4The blue bar shows the result of FY2022 3Q, compared tothe same period last year shown in gray.

Gross Profit increased by 6.7 billion JPY YoY. Operating
Income increased by 5.3 billion JPY YoY, offsetting theincrease of SG&A expenses.

Energy and Global Environment Gross Profit are 17.1 billion
JPY and 6.4 billion JPY respectively, both increasing YoY.

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Total assets was 376.7 billion JPY, a decrease of 18.7 billionJPY from the end of the last fiscal year.
•Operating Assets in the assets section and Notes
Payable, Accounts Payable for Construction Contracts
in the liabilities section increased as ongoing projectsprogressed.

•Accounts Receivable - Other in the assets section andAccounts Payable – Other in the liabilities section
decreased, due to an ‘out of court’ settlement with asubcontractor on Ichthys LNG. The decrease inAccounts Receivable – Other is relatively large as thereceived amount is recorded as short-term fundoperation in other current assets.

Shareholders equity was 14.8 billion JPY, a decrease YoY asthe valuation account fluctuated with currency exchange
rates. Current shareholders equity is more than 20.0 billion
JPY with currency exchange fluctuations and accumulatedprofits.

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New Orders was 120.5 billion JPY and the Backlog was1,279.5 billion JPY.

Major projects include NFE LNG in Qatar, Golden Pass LNG
in the USA and the Tangguh LNG Expansion project inIndonesia in the energy sector and a copper smelting projectin Indonesia, a biopharmaceuticals manufacturing plant andan energy storage system facility in the global environment
sector.

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This is a summary of Revenue and Backlog for reference.

89 ‘CHIYODA X-ONE Engineering Corporation’ will beestablished in April 2023 by merging three domestic groupcompanies.
 The name includes ‘X-ONE’ in reference to the combinationof Transformation (X) and our project execution driver, ‘One
Team’ (ONE), representing ‘proceeding as ‘One Team’ andtransformation through Chiyoda’s technology’.
 CHIYODA X-ONE Engineering Corporation will be an
integrated engineering contractor, combining the three groupbusinesses of ‘energy, environment and maintenance’,‘electrical and instrumentation solutions’ and ‘life science’.
The Group reinforces our domestic business and offers aone-stop service from EPC to operation and maintenanceengineering.

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 Chiyoda launched a new O&M Transformation Solution
Business Department, combining the following two solutions:i.

Plant operation and maintenance, such as advanced
diagnosis technology, analysis technology andmaintenance support

ii. Digital operation optimization
 Collaborating
withCHIYODA
X-ONEEngineering
Corporation and other Group companies, Chiyoda will
accelerate the provision of competitive solutions, supporting
the transformation of client O&M activities from both a cyberand physical perspective.

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 Chiyoda was certified as a DX business operator by theMinistry of Economy, Trade and Industry on December 1,2022. We will continue accelerating company-wide DX.
 In the ‘DX business’, digital solutions to optimize plant
operation are deployed under the EFEXISTM brand. For
example, FCC AI OptimizerTM, has been introduced into Taiyo
Oil Shikoku operations, optimizing their RFCC unit catalyst
reaction and contributing to production management in linewith production schedules, supporting smart factory initiativesand contributing to technology transfer from senior to junioroperators.

12 A vaccine constituent production facility was handed over toSHIONOGI & CO. Ltd. in January 2023.
 The facility commercially produces a recombinant proteinbased vaccine.
 Chiyoda is also executing the EPC phase of abiopharmaceutical manufacturing plant, aiming to enter thebio-industry and next generation pharmaceutical products
field such as regenerative medicine.

13 Chiyoda is participating in a feasibility study for a pilot project
as a forerunner to developing an industrial-scale hydrogen
supply chain from Scotland to Rotterdam in the Netherlands,
whose goal is to become Europe’s premier hydrogen hub.
 In Europe, Chiyoda is conducting studies with the Port ofRotterdam Authority and Mitsubishi Corporation to construct
an international hydrogen supply chain to import hydrogen ona commercial scale.

14 Axens’ Toluene Hydrogenation technology combined with
Chiyoda’s ‘in-house’ SPERA Hydrogen technology (MCHdehydrogenation) enables fast track project implementation
and accelerates hydrogen supply chain construction.

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 Chiyoda signed an MOU with BLPC Power Limited andMitsubishi Corporation to jointly study the development andapplication of decarbonization technology.
 Chiyoda is providing technical support by utilizing its
expertise of an ‘in-house’ and environmental-friendly CO2
Reforming Technology in a feasibility study, applying CCUS
technology for the Flue Gas of a BLCP coal-fired PowerPlant.
 The joint study aims to horizontally develop other thermal
power plants in Thailand, an important country in the Asia
Zero Emissions Community advocated by the Japanese
government.

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