SNC FORMER PLCOpportunity day 1Q2015May 11, 2015

1

Agenda

1

2

3

4

1Q15 Market Briefs

1Q15 Business Highlights

Y2015 : The Challenged Year

Financial Highlights

2

3SME BOI, tax 0% 8 years, start 2011Normal BOI, tax 0% 3-8 yearsNon BOI, tax 20%

SNC

branch 2

SNC Cooling

Supply Co., Ltd.

SNC Pyongsan

Evolution Co., LtdImmortal Parts

Co., Ltd.

100%

100%

100% 220MB

Ultimate Parts

Co., Ltd.

100%

Pipe + Freezer

4,000 sqm

40MB

70MB

30MB

SSM Automation Co.,

Ltd.

160MB 49.4%

Metal sheet stamping

5,000 sqm

Infinity Parts

Co., Ltd.

Heat exchanger +

metal sheet

9,000 sqm

100%20MB

air-conditioner parts

2,700 sqm

Automotive parts

pipe + sheet

8,000 sqm

SNC

branch 4

OEM | ODM

23,400 sqm

Toptech Diamond

tools Co., Ltd.

80MB 66%

Tooling

2,500 sqm

Paradise Plastic

Co., Ltd.

30MB 100%

Plastic

6,000 sqm

SNC Creativity

Anthology Co., Ltd.

200MB 100%

Aluminum

condenser

7,000 sqm

Samutprakarn province Rayong province

air-conditioner parts

17,000 sqmPlastic

12,000 sqm

45MB 49 %

Water heater

1,600 sqm

Fuso Industries

Co., Ltd.

20%

Residential

air-conditioner parts

5,000 sqm

100MB

SNC Atlantic Heat

Pump Co., Ltd

45MB 74%

Heat Pump

1,600 sqm

SNC Atlantic Water

Heater Asia Co., Ltd

SNC Fukui Holy

Insulation Co., Ltd.

50MB 70%

Pipe kit + insulation

5,000 sqm

Chonburi province

Meisou SNC

Precision Co., Ltd.

10MB 70%

Mould parts

1,000 sqm

JV with

France

JV with

France

JV with

Japan

JV with

Taiwan

JV with

Japan

JV with

Thai

Capital 287 MB

JV with

Japan

Total 15 companies, incl. JV 7 companies

1Q15 Market Briefs

Source: 1. สถาบันยานยนต์, 2. ส านักงานเศษรฐกิจอุตสาหกรรม, 3.สถาบันไฟฟ้า และอิเลคทรอนิคส์, 4. SNC Survey 4

Automobile

1.0

1.61.5

2.5 2.5

1.9 2.0

0.5

0

1

1

2

2

3

3

Y09 Y10 Y11 Y12 Y13 Y14 Y15E1Q15

65% -11% 68% 0% 7%

M. u

nit

-24%

Car production in 1Q15 =

0.52 M.units increased

11.3% QoQ and 1.4% YoY.

Export sale in 1Q15

increase 63% YoY and

domestic sale decrease

12% YoY.

0.220.19

0.200.33

0.000.100.200.300.400.500.60

1Q14 1Q15

Export Domestic

(48%)

(52%) (37%)

(63%)

1Q15 Market Briefs

Source: 1. สถาบันยานยนต์, 2. ส านักงานเศษรฐกิจอุตสาหกรรม, 3.สถาบันไฟฟ้า และอิเลคทรอนิคส์, 4. SNC Survey

Air Conditioners

10.7

15.715.018.1

20.521.522.6

6.6

0

5

10

15

20

25

Y09 Y10 Y11 Y12 Y13 Y14 Y15E1Q15

47% -4% 21% 13% 5%

The 1Q15 - AC production

in Thailand is estimated at

6.56 M.unit while those of

1Q14 was 6.79 M.unit,

decreased 3.3% YoY.M. u

nit

5%

5

Compressors

1.01 1.12

5.79 5.44

0

2

4

6

8

1Q14 1Q15

Export Domestic

11.814.313.112.4

16.814.114.8

3.7

0

5

10

15

20

Y09 Y10 Y11 Y12 Y13 Y14 Y15E1Q15

M. u

nit

21% -8% 35%-5% 5%-16%

1.95 1.86

1.76 1.85

0

1

2

3

4

1Q14 1Q15

Export Domestic The 1Q15 - Compressor

production in Thailand is

estimated at 3.71 M.unit

while those of 1Q14 was

3.71 M.unit, 0% increased

YoY.

(85%)

(15%) (17%)

(83%)

(47%)

(53%)(50%)

(50%)

1Q15 Market Briefs

4.75.7 6.2

7.2 6.7 6.4 6.4

1.6

0

2

4

6

8

10

Y09 Y10 Y11 Y12 Y13 Y14 Y15E1Q15

Refrigerator

M. u

nit

The 1Q15 production is

estimated at 1.59 M.unit while

those of 1Q14 was 1.46

M.unit, increased 8.9% YoY.

4.85.4

6.6 6.86.1

5.0 5.0

1.4

0

2

4

6

8

10

Y09 Y10 Y11 Y12 Y13 Y14 Y15E1Q15

Washing Machine

M. u

nit

The 1Q15 production is

estimated at 1.44 M.unit while

those of 1Q14 was 1.35 M.unit,

increased 6.7% YoY.

6Source: 1. สถาบันยานยนต์, 2. ส านักงานเศษรฐกิจอุตสาหกรรม, 3.สถาบันไฟฟ้า และอิเลคทรอนิคส์, 4. SNC Survey

0.42 0.45

1.041.15

0

0.5

1

1.5

2

1Q14 1Q15

Export Domestic

0.42 0.39

0.941.05

0

0.5

1

1.5

2

1Q14 1Q15

Export Domestic

(71%)

(29%) (28%)

(72%)

(69%)

(31%) (27%)

(73%)

Agenda

1

2

3

4

1Q15 Market Briefs

1Q15 Business Highlights

Y2015 : The Challenged Year

Financial Highlights

7

1Q15 Business HighlightsCore Business

Core Business

Automobile

Metal Parts

Plastic Parts

Electrical Appliances (EA)

Parts

OEM

ODM

8

1Q15 Business HighlightsCore Business (Automobile)

Sales of automobile parts in 1Q15 increase about 4% from 1Q14 which rise up from selling the motorcycle parts.

241 243

225222

250

200

210

220

230

240

250

260

1Q14 2Q14 3Q14 4Q14 1Q15

Sales of Automobile Parts (MB)

168 157

73 93

0

100

200

300

Q1Y14 Q1Y15

Plastic

Metal

9

1Q15 Business HighlightsCore Business (EA Parts)

Sales of EA Parts in 1Q15 was nearly the same level as 1Q14.

Following to the increasing number of OEM/ODM businesses, the sales of upstream parts (internal sales) was increasing 75 MB YoY.

972864

676 692

962

0

500

1000

1500

1Q14 2Q14 3Q14 4Q14 1Q15

Sales of EA Parts (MB)

674 678

43 5427 22

228 205

0 3

0

200

400

600

800

1000

1q14 1q15

Others

Plastic

Heat Ex.

Sheet Metal

Cu.Pipe

10

1Q15 Business HighlightsCore Business (EA-OEM)

Sales of OEM in 1Q15 was 1,415 MB, up 20% from 1Q14, mainly came from the strong demand of both Window AC and Split AC (R32).

For WINDOW AC in 1Q15, there are 4 new models launched for the Middle East market.

1,175

598

345

713

1,415

0

500

1000

1500

1q14 2q14 3q14 4q14 1q15

Sales of EA-OEM (MB)

1051 1206

951732935

0

500

1000

1500

1q14 1q15

Non AC

Split AC

Window AC

11

1q14 1q15

4 6

32,804 54,470

123,840 139,880

Units

Units

Units

1Q15 Business HighlightsCore Business (EA-ODM)

Sales of ODM group in 1Q15 was decreased from 1Q14 (-30 MB) and 4Q14 (-89 MB). This is because of the sales of Heat Pump product for Water Heater has been moved to SAHP account (recently established business group) of which 1Q15 sales of SAHP was 107 MB.

4462

106 103

14

0

50

100

150

1q14 2q14 3q14 4q14 1q15

Sales of EA-ODM (MB)

0 0

2410

20

4

0

10

20

30

40

50

1q14 1q15

Non AC

Industrial AC

Residential AC

12

1q14 1q15

1,927 978

459 290

- -

Units

Units

Units

107

1Q15 Business HighlightsRecently Established Business

Recently Established Business

SCAN (Al. Condenser, Al.Pipe, SNC100%)

SSMA (Sheet Metal , SNC49.4%)

SAWHA (Water Heater, SNC49%)

SAHP (Heat Pump, SNC74%)

TTD (Cutting Tool, SNC66%)

SFHI (Insulation, SNC70%)

MSPC (Precision Parts for Mold, SNC70%)

13

1Q15 Business HighlightsNew business

Sales of this group in 1Q15 was increasing 153 MB or +215% YoY. The main portion comes from SAHP (0107 MB) and SSMA (100151 MB).

133108

126 129

286

0

100

200

300

400

1Q14 2Q14 3Q14 4Q14 1Q15

Sales of new business(MB)

14

33 240

107100

155

0

0.13

0

50

100

150

200

250

300

1q14 1q15

Others

**SSMA, SAWHA

SAHP

TTD

** SSMA, SAWHA : The sales of this is not be consolidated into SNC sales.

1Q15 Business Highlights

15

Product

Aluminum Condenser for Residential A/C

Hose for Car A/C.

Aluminum Pipe for Car A/C

Capital 200 MB

Location : SNC @Rayong

Target Customer :

Residential AC makers (Al. Condenser)

Car A/C makers (Hose, Al. Pipe)

Highlight activities in 1Q15:

Aluminum Condenser has been approved by

customer

Submit the Development 1 sample (D1

sample) of Hose to customer.

Al. Pipe will be started after development of

Hose is finished.

SCAN

1Q15 Business Highlights

KYOKUYO

16

Product

Stamping parts for Electrical Appliances and

Automotive

Capital 160 MB :

SNC (49.4%) : SUGIMOTO (47.5%) :Others (3.1%)

Location : SNC @Rayong

Customer :

Auto : SUZUKI, H-One, Kyokuyo, Bestex, etc.

Electrical Appliances : SNC, Mitsubishi, Electrolux,

Hitachi, Toshiba

Highlight activities in 1Q15 :

Demand from SNC (AC OEM parts) is increasing.

Trial production for SUZUKI YL1 project.

Compressor Parts have been approved from

customer.

Review Capacity especially the TANDEM Line

SSMA

1Q15 Business Highlights

SAWHA

Manufacturing of water heater.

Capital 45 MB, Atlantic 51% + SNC 49%

Location : SNC @Rayong

Target Customer : export to Vietnam,

Indonesia, India, Korea, etc.

Main target in Y2015:

Penetrate into India Got approval by

Bureau of Energy Efficiency (BEE) of

India in March 2015

1Q14 : sale 0 MB EAT -1 MB

1Q15 : sale 4 MB EAT 0 MB

0

5,2522,186

26,000

0

5,000

10,000

15,000

20,000

25,000

30,000

Y2013 Y2014 1Q15 Y2015(Forecast)

Sales (set)

17

1Q15 Business Highlights

SAHP

Manufacturing of heat pump for water heater.

Capital 45 MB, Atlantic 26% + SNC 74%

Location : SNC @Rayong

Customer : Atlantic Group in France

Started production in Dec 2014

1Q14 : sale 0 MB EAT -0.3 MB

1Q15 : sale 107 MB EAT 8 MB

18

644

13,126

45,000

05,000

10,00015,00020,00025,00030,00035,00040,00045,00050,000

Y2014 1Q15 Y2015(Forecast)

Sales (set)

Note : The number of production at SNC-LCB in Y2014 was 26,353 set.

1Q15 Business Highlights

TTD

Manufacturing of cutting tools.

Capital 80 MB, SNC 66%

Customer : Automotive sector.

New product in 2015 : Automation parts and

products.

1Q14: Sale 33 MB, EAT 3.2 MB

1Q15: Sale 24 MB, EAT -3.5 MB

19

1Q15 Business Highlights

SFHI

Manufacturing of insulation pipe kit and foam insulation.

Capital 50 MB.

SNC 70% + Fukui Kasei (Thailand) Co., Ltd 20% + Grand Union Enterprise Co., Ltd. 10%

Location : Samutprakarn.

Customer : Export to USA, Japan, etc.

1Q15, Machines installation, infrastructure and office, loss 1.9 MB.

20

SFHI – Jobs (Action in April 2015)

Office preparation

Installation insert pipe machine

Making sample 3 sets for OK Kizai company

Installation Extruder,Slitter and tube machine

Start production

1Q15 Business Highlights

MSPC

MSPC is a maker of precision parts for injection

mold.

Capital 10 MB 25 MB

SNC 42% Toptech 28%, Meisou 30%

Location : Samutprakarn.

Customer : Domestic and export to Japan.

1Q15, Machines installation, infrastructure and

office, loss 3.5 MB

21

MSPC – Jobs (Action in April 2015)

Visit customer Panasonic

Preparing for 3 customer visit

Dai-ichi Seiko Visit

Panasonic Visit

Canon Visit

Start production

Agenda

1

2

3

4

1Q15 Market Briefs

1Q15 Business Highlights

Y2015 : The Challenged Year

Financial Highlights

22

Y2015 : The Challenged Year

Auto Parts• Recovery of Car Market

1.88 M2.0 M

• Growth from New parts / New Customers

EA Parts• Growth with the Big Brands AC

manufacturers

• Growth with the increasing number of OEM / ODM production in SNC group.

EA OEM• Increasing number of WINDOW AC

and R32 Split AC in Y2015.

EA ODM• Sales of Heat Pump for Water Heater

will be moved to SAHP with the increasing number.

• Increasing trend of Sales for Residential AC and Industrial AC.

Core Business

23

Y2015 : The Challenged Year

• Start to supply to customer but the quantity is still lowSCAN

• Sales reaches to BEPSSMA

• Penetrate into India, EU marketSAWHA

• Start operation with continuing strong demand by the Energy Saving trend in EU.SAHP

• Steady growth with the new business (Automation) challenge.TTD

• Start operationSFHI

• Start operationMSPC24

Agenda

1

2

3

4

1Q15 Market Briefs

1Q15 Business Highlights

Y2015 : The Challenged Year

Financial Highlights

25

Key Financial Highlights

26

Revenue (THB million)

p+12% YoY

p+58% QoQ

1q15

2,772 + 1q15 was high season.

2,465 + OEM generated more sale. Increase in

1,760 the production volume of window and R32.

1q14 4q14 1q15

EAT (THB million)

EPS (THB/share) 0.61 1q15

0.54 0.27 + OEM and EA parts generated more profit.p+14% YoY

p+126% QoQ 1q14 1q15

176 Electrical 145 173

154 78 6.3% Automotive 29 28

6.3% 4.4% New business -19 -26

154 176

1q14 4q14 1q15

+12% YoY+58% QoQ

+14% YoY+126% QoQ

Business segment revenues

27

Unit : THB million YoY QoQ

1q14 4q14 1q15

Revenue - section i

Auto - Pipe 168 140 157 - +

Auto - Plastic 73 83 93 + +

EA - OEM/ODM 1,219 816 1,429 + +

EA - Parts 972 689 962 - +

Total section i 2,432 1,728 2,641 + +

Revenue - section ii

SCAN - - - - -

SSMA(49%)** 100 98 153 + +

SAHP - 5 107 + +

TTD 33 25 24 - -

Others - 2 0 + -

Total section ii 33 32 131 + +

Revenue GT 2,465 1,760 2,772 + +

- Auto-Pipe was supplied to the automotive industries.

The 1q15 production volume in Thailand was 524,540 units -1.72% yoy.

+ Auto-Plastic was grow up due to motorcycle.

The 1q15 production volume in Thailand was 536,903 units +5.61% yoy.

Plastic price8%, 1q15: THB 65, (1q14 : THB 71)

+ EA-OEM : Increase in the volume of window type and split type, high season.

+ EA-Parts : copper price 5% 1q15 : USD 6,771 (1q14 : USD 7,139)

Production volume was higher than 1q14, supplied customers and OEM too.

- SCAN sale is expected to recognized in 2h.

+ SSMA sale increased in accordance with OEM and Suzuki.

+ SAHP: heat pump just started in Dec14.

- TTD: cutting tools was mainly supplied to the automotive industries.

Business segment results

28

Unit : THB million YoY QoQ

1q14 4q14 1q15

Net profit - section i

Auto - Pipe 24.1 15.3 18.1 - +

Auto - Plastic 4.5 5.7 10.1 + +

EA - OEM/ODM 31.7 15.3 41.0 + +

EA - Parts 113.3 77.4 132.5 + +

Total section i 173.6 113.6 201.6 + +

Net profit - section ii

SCAN (19.6) (20.1) (24.6) - -

SSMA (49%) (1.4) (0.9) (0.4) + +

SAHP (74%) (0.0) (0.6) 5.9 + +

TTD (60%) 1.9 (1.1) (2.1) - -

Others (0.2) (13.3) (4.6) - +

Total section ii (19.3) (36.0) (25.8) - +

Net profit GT 154.3 77.6 175.8 + +check - - 0

- Auto-Pipe was supplied to the automotive industries.

+ Auto-Plastic: production volume profit

+ EA-OEM : 1q15 was the high season, sale profit

+ EA-Parts : Production volume profit

- SCAN had only expenses.

+ SSMA almost touched break even.

+ SAHP: volume profit

- TTD: volume profit

- Other : 4q14 reversed deferred tax asset.

1q15 : MSPC and SFHI just operated.

Financial position

29

THB million THB million

Cash cycle -2d, due to OEM activity D(int)/E was in the low level. Y12-13, big investment.

More bank loan due to big Y14, medium investment.

investment in the past 2 years. Y15, minor investment and

replacement

2,310 2,373

122 166 351 330

1,382 2,273

(500)

500

1,500

2,500

3,500

4,500

Y14 1q15

AP

Loan

Other

Equity2,187 2,228

93 90

280 390

1,605 2,434

(500)

500

1,500

2,500

3,500

4,500

Y14 1q15

Cash+AR

Inven

Other

PP&E

Asset Liab + Equity

641 553

409 350

-

200

400

600

800

1,000

Y12 Y13 Y14 Y15

CAPEX

1.2 1.0 1.3 1.3

(6) (8)(3) (2)

-20

-10

0

10

Y12 Y13 Y14 1q15

Current ratio CCC (days)

0.02 0.14 0.15 0.14

0.9 0.8 0.8 1.2

(2)

-

2

4

Y12 Y13 Y14 1q15

D(int)/E D/E

Thank You

Disclaimer: The information contained herein is being furnished on a confidential basis for discussion purposes only and only for the use of the recipient, andmay be subject to completion or amendment through the delivery of additional documentation. Except as otherwise provided herein, this document does notconstitute an offer to sell or purchase any security or engage in any transaction. The information contained herein has been obtained from sources that TheSNC Former Public Company Limited (“SNC”) considered to be reliable; however, SNC makes no representation as to, and accepts no responsibility or liabilityfor, the accuracy or completeness of the information contained herein. Any projections, valuations and statistical analyses contained herein have beenprovided to assist the recipient in the evaluation of the matters described herein; such projections, valuations and analyses may be based on subjectiveassessments and assumptions and may utilize one among alternative methodologies that produces differing results; accordingly, such projections, valuationsand statistical analyses are not to be viewed as facts and should not be relied upon as an accurate representation of future events. The recipient should makean independent evaluation and judgment with respect to the matters contained herein.