SNC FORMER PLCOpp day Feb 15, 2016

1

SNC

SNC Agenda

2

1

2

3 Business highlight 2016

Key milestone / Market brief

Financial performance

SNC Financial Highlight

3

520 494423

377 410

0

200

400

600

800

1,000

1,200

Y11 Y12 Y13 Y14 Y15

854 841 849 822 866

0

300

600

900

1,200

1,500

Y11 Y12 Y13 Y14 Y15

Gross Profit & Margin

Net Profit & Margin

6.2%

10.3% 11.0%

6.5%

Y14 Y15

Sale 100 100

RM 73 74

DL 3 3

OH 13 12

CoGS 89 89

-5%

8,3247,648

7,155 7,4058,140

0

2,000

4,000

6,000

8,000

10,000

12,000

Y11 Y12 Y13 Y14 Y15

Sales

-8%

11.9%

5.9%

-14%

-6%

11.1%

5.1%

+3%

-11%

10.6%

5.0%

740697 694 687

734

0

200

400

600

800

1,000

1,200

Y11 Y12 Y13 Y14 Y15

EBITDA & Margin

8.9% 9.1%

-6%

9.7%

-0%

9.3%

-1%

9.0%

GP

EA part 15-20%

EA OEM 3-5%

Auto 14-18%+10%

+9% +7%

1. Finance 2. Milestone 3. Highlight 2016

SNC

EA-OEM/ODM• 422,000 to 540,000 units• SAHP sale 514 MB, GP 12%• SAHP upstream parts• A/C assembly factory under

construction

EA-Parts

• Metal sheet for washing machine

• RO water vending machine started.

Auto• 1st tier of Honda Toyota

Mitsubishi • Battery and chassis started.

Other• SAWHA sale 91 MB, GP 12%• Metal sheet for refrigerator 32

to 72 MB, growth 100% in 3 yrs.

2015 business highlight

4

1. Finance 2. Milestone 3. Highlight 2016

SNC Financial performance

5

1. Finance 2. Milestone

821 712

3,1524,048

222 228

930

907

685 654

3,194

3,034

32 42

129 152

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

4q14 4q15 Y14 Y15

Other

EA-Parts

Auto

EA-OEM 1,760 1,636

7,4058,140

MB

-7%

+10%Sales

OEM A/C 340k to 470k units

OEM SAHP Y15 : 514 MB

TTD 115SCAN 023

LME $7,000 $6,000

Pipe 629614Plastic 301293

Window R32

OEM A/C 94k to 62k units

Low demand

LME $7,000 $5,500.

SAHP 27k to 63 k units

1st tier of Honda Toyota Mitsubishi

Metal sheet Washing machine

3. Highlight 2016

SNC Financial performance

6

1. Finance 2. Milestone

15 26 43 96 21 22

93 83

77 66

343 334

(35) (24) (102) (103)

(200)

(100)

-

100

200

300

400

500

600

4q14 4q15 Y14 Y15

Other

EA-Parts

Auto

EA-OEM

78 90

377 410MB

+15%

+9%EAT

Parts 347 SFHI -14

Pipe 7963Plastic 1420

OEM 4557SAHP -139

SCAN -76-84SSMA -120MSPC 0-13

Profit 78D tax 19Profit 97

OEM 1515SAHP -110

Part 7772SFHI -1-6

3. Highlight 2016

SNC Key Milestone

7

SNC is planning to expand part business for home appliance and automotive products in order to get the maximum benefit from economy of scale

1. Finance 2. Milestone

Automotive Residential Compressor Freezer Metal Plastic Daimond Aluminum Water heater air-cond Mould

air-cond air-cond sheet EA, Auto tools parts Heat pump parts parts

Material

supplier

1981 1981

1981 2005 2010 2012 2013 2014 2015 2015

Parts

supplier

SSMA

2012

Manufacturer

OEM ODM

2008 2005 2015

Small

Player

Big

Player

Market

Dominator

3. Highlight 2016

Market brief

8Source: 1. สถาบันยานยนต์, 2. ส านักงานเศษรฐกจิอุตสาหกรรม, 3.สถาบันไฟฟ้า และอเิลคทรอนิคส์, 4. SNC Survey

Automobile

1.0

1.61.5

2.5 2.5

1.9 1.9 1.9

0.0

0.5

1.0

1.5

2.0

2.5

3.0

Y09 Y10 Y11 Y12 Y13 Y14 Y15 Y16E

65%-11%68% 0%

M. u

nit

-24% 0.88 0.80

1.00 1.11

0

0.5

1

1.5

2

2.5

Y14 Y15

Export Domestic

1.911.88(53%) (58%)

(47%) (42%)1%

Car production in 4Q15 = 0.48 M.unitsincreased2.1% YoY and decreased 3.1% QoQ.

Domestic sale in 4Q15 increase = 5.3% YoY and Export sale decrease = 1.1% YoY.

1. Finance 2. Milestone

QoQ 3Q15 vs 4Q15

CAR 3Q15 4Q15 %

Production 496,829 481,243 -3.1%

Domestic Sales 184,723 245,800 33.1%

Export 312,106 235,443 -24.6%

YoY 4Q15 vs 4Q14

CAR 4Q14 4Q15 %

Production 471,467 481,243 2.1%

Domestic Sales 233,422 245,800 5.3%

Export 238,045 235,443 -1.1%

3. Highlight 2016

SNC Market brief

9Source: 1. สถาบันยานยนต์, 2. ส านักงานเศษรฐกจิอุตสาหกรรม, 3.สถาบันไฟฟ้า และอเิลคทรอนิคส์, 4. SNC Survey

Air Conditioners

10.7

15.715.018.1

20.521.520.9

21.5

0

5

10

15

20

25

Y09 Y10 Y11 Y12 Y13 Y14 Y15 Y16E

47%

-4% 21% 13%-2.8%

Y15 - AC production in Thailand

shows the sign of reduction

compared to 2014 around 2.8%

(20.9 M vs21.5 M) mainly from the

Export market.

M. u

nit

5%

Compressors

3.19 3.69

18.26 17.24

0

5

10

15

20

25

Y14 Y15

Export Domestic

20.921.5

11.814.3

13.112.4

16.814.614.214.6

0

5

10

15

20

Y09 Y10 Y11 Y12 Y13 Y14 Y15 Y16E

M. u

nit

21%-8% 35%-5%-2.7%

-13%7.15 6.50

7.44 7.68

0.00

5.00

10.00

15.00

20.00

Y14 Y15

Export Domestic

14.214.6

Y15 - Compressor production in

Thailand is estimated at 14.2

M.unit while those of Y14 was

14.6 M.unit, 2.7% decreased

YoY.

1. Finance 2. Milestone

2.9%

2.8%

3. Highlight 2016

(85%) (82%)

(15%) (18%)

(51%) (54%)

(49%) (46%)

SNC Market brief

10

4.75.7 6.2

7.2 6.7 6.5 6.6 6.8

0

2

4

6

8

10

Y09 Y10 Y11 Y12 Y13 Y14 Y15 Y16E

21%

9% 16%-7%

-4%1.5%

3%

Refrigerator

M. u

nit

Y15 production is estimated at

6.6 M.unit while those of Y14

was 6.5 M.unit, slightly

increased 1.5% YoY.

4.85.4

6.6 6.86.1

5.25.7 5.9

0

2

4

6

8

10

Y09 Y10 Y11 Y12 Y13 Y14 Y15 Y16E

12%22%

3%-10%-18%

9.6%3%

Washing Machine

M. u

nit

Y15 production is estimated at

5.7 M.unit while those of Y14

was 5.2 M.unit, increased

9.6% YoY.

Source: 1. สถาบันยานยนต์, 2. ส านักงานเศษรฐกจิอุตสาหกรรม, 3.สถาบันไฟฟ้า และอเิลคทรอนิคส์, 4. SNC Survey

1.71 1.69

4.77 4.91

0.00

2.00

4.00

6.00

8.00

Y14 Y15

Export Domestic

6.66.5

1.52 1.41

3.724.30

0.00

2.00

4.00

6.00

8.00

Y14 Y15

Export Domestic

5.75.2

1. Finance 2. Milestone 3. Highlight 2016

(73%) (74%)

(27%) (26%)

(71%)(75%)

(29%) (25%)

SNC Business Highlight in Y2016

11

Sheet Metal

• Pre-Coated Material (PCM) business for A/C casing

• Casing of the Vending Machine

Plastic

• Move 11 injection machines to Rayong and reduce factory rental area in SNC-B2 cost saving

Heat Exchanger

• Start 7 mm (dia.) size

• Move Heat Exchanger line in Laem Chabang plant to Rayong plant

Pipe Kit (SFHI)

• Start to export to Japan after customer audit

• Produce insulation to supply to IMP Pipe Kit line for domestic market

EA-Parts

1. Finance 2. Milestone 3. Highlight 2016

SNC Business Highlight in Y2016

12

• Expand more indirect export market

• New models with current customersAUTO-Pipe

• Focus on Battery Casing business (10 MB in Y15 40 MB in Y16)AUTO-Plastic

1. Finance 2. Milestone 3. Highlight 2016

SNC Business Highlight in Y2016

13

• Move Laem Chabang Plant to Rayong in mid 2016 improve efficiency and increase business opportunity.

OEM - A/C

• Launch new models of Heat PumpOEM – SAHP

• Start production of new R32 A/C for Domestic Market

• Start production of Heat Pump and other equipment for Agriculture business

ODM

1. Finance 2. Milestone 3. Highlight 2016

SNC Business Highlight in Y2016

14

• Start production with the 2nd A/C customer (Feb. 2016)

• Start to supply AC Hose from SCAN (Feb.2016)

Other - SCAN

• Strengthen sales and technical support team to expand market

• Production cost reduction especially for raw material cost

Other – TTD

• Expand market both domestic and export

• Enhance the skill of staff to get more sophisticated business

Other - MSPC

1. Finance 2. Milestone 3. Highlight 2016

SNC Company visit

15

20 February 2016

Company Visit Program

At SNC Rayong Plant

Thank youSNC

Appendix

SNC Vision/Mission

18

1. Quality FirstRegard of the quality of products first.

2. DifferentiationCreate a wide variety of products and services to meet all kinds of customers.

3. Cost EffectivenessCreate quality products at a price that customer can buy to compete.

4. Quick ResponseMeet customer needs with speed.

5. Flexible Manufacturing SystemAdjust production systems to take away flexibility to rapidly changing environment.

6. Focus on Products and StakeholdersFocus on products that are environmentally friendly and stakeholders, both direct and indirect.

7. Service MindA mental switch and signal intentions on the service to customers satisfaction.

SNCSuper store(One Stop Service)

An ultimate ONE STOP SHOP & SERVICE CENTER of variety products

and comprehensive services in Automotive, HVAC systems (Heating

Ventilation & Air Conditioning), Electrical Appliances and Electronics

industries.

MissionVision

SNC

Toptech Diamond Tools Co., Ltd.

SNC Cooling Supply Co., Ltd

Immortal Parts Co., Ltd

Samutprakarn Province

Chonburi Province

Rayong Province

SNC Fukui Holy Insulation Co., Ltd.

ParadisePlastic Co., Ltd.

SNC Former PLC. (Branch 2)

Fuso Industries Co., Ltd.

SNC Former PLC. (Branch 4)

SNC Pyongsan Evolution Co., Ltd

SNC Creativity Anthology Co., Ltd.

Ultimate Parts Co., Ltd.

SSM Automation Co., Ltd.

Infinity Parts Co., Ltd.

SNC Atlantic Water Heater Asia Co., Ltd

SNC Atlantic Heat Pump Co., Ltd

Meisou SNC Precision Co., Ltd

Location

19

SNC

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

Capital 287 MB

SSM Automation

Co., Ltd.

160MB 49%

Metal sheet stamping

6,000 sqm

Infinity Parts

Co., Ltd.

Heat exchanger +

metal sheet

9,000 sqm

100%20MB

air-conditioner parts

2,700 sqm

Automotive parts

pipe + sheet

10,000 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.

14MB 70%

Mould parts

1,000 sqm

JV with

France

JV with

France

JV with

Japan

JV with

Taiwan

JV with

Japan

JV with

Thai

JV with

Japan

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

Total 15 companies (8 co.+ 7 JV)

StructureSNC

SNC Products & Customers

21

Air Conditioner

Plastic parts

MotorcycleCar

Plastic parts

Automotive- Automotive Parts- sub assemblies

Customers Car maker

Ford, Mazda, GM

Honda

Mitsubishi,

Nissan

Isuzu, Ford

Toyota

Nissan

Isuzu,

Residential Air Conditioner Parts Assemblies (OEM & ODM)

Electrical appliances

EA

-pa

rts

Au

toA

uto

EA

-OE

ME

A-p

art

s Oth

er

Air Conditioner

Export

Battery

Heat Pump

SNC

22

Food Processing Equipment- ODM

Metal Sheet

Diamond tooling- Cutting tools and dies

Aluminum Parts

Heat ExchangerCompressor- Compressor Parts

Forging

EA

-pa

rts

EA

-OE

ME

A-p

arts

Oth

er

Washing machine

Air-conditioners

Condenser

2012

2013

2012Water heater

OEM2014

Meisou-SNC

2015

Sale Auto OEM Part Other

2014 (A) 13% 43% 40% 5%

2015 (A) 11% 50% 37% 2%

2016 (F) 12% 47% 37% 4%

40% 7% 4%5%6%

Vending machinecar

Mould parts

EA

-pa

rtsO

the

r

2016

SNC Management

23

Dr.Somchai Thaisanguanvorakul

Chairman of the Executive Committee

Rayong Chonburi

Somchai+Koseki Ito Kim Ono Pitak Wootichai+Iino Suphot+Konno

MD Co-MD Co-MD MD MD MD MD

Ex-Honda Ex-Komatsu Ex-LG Ex-Fujitsu Ex-Daikin Ex-Daikyo

Samutprakarn Home appliance

Ex-Panasonic

Samitt Somboon Kodama

V-CoEC V-CoEC V-CoEC

BEST CEO NACC Integrity Awards

SNC Machine Utilization Rate

24

Y12 Y13 Y14 Y15 Y16

Automotive air-conditioning parts 63% 65% 60% 60% 70%

Residential air-conditioning parts 86% 84% 70% 80% 80%

Compressor parts 90% 80% 70% 70% 70%

Metal sheet stamping 54% 66% 70% 90% 90%

Freezer 83% 80% 80% 80% 80%

OEM 30% 30% 30% 35% 40%

Heat Exchanger 53% 45% 50% 50% 60%

Plastic 76% 81%* 60% 65% 75%

SSMA-metal sheet stamping 25% 50%* 60% 70% 75%

Toptech Diamond Tools 85% 76%* 55% 55% 65%

Aluminum condenser (cap >> 500,000 units)

- - 0% 7% 15%

Water Heater (cap >> 100,000 units) - - 5% 50% 70%

Heat Pump (cap >> 120,000 units) - - 1% 50% 50%

SNC Financial Highlight (Cont’d)

25

0.59

0.920.81 0.80

0.68

- 0.02 0.14 0.15 0.11

0.00

0.40

0.80

1.20

1.60

2.00

Y11 Y12 Y13 Y14 Y15

D/E D(int)/E

Liquidity Ratio

Total liabilities/Total Equity

1.62 1.22 1.03 1.25 1.30

-3

-6-8

-3-2

-16

-12

-8

-4

0

4

8

Y11 Y12 Y13 Y14 Y15

Current CCC

ROA & ROE

18%15%

12% 11% 11%

28%25%

21%18% 18%

0%

10%

20%

30%

40%

50%

Y11 Y12 Y13 Y14 Y15

ROA ROE

CAPEX

641553

409309

600

0

200

400

600

800

1,000

Y12 Y13 Y14 Y15 Y16

CAPEX

SNC Financial Highlight (Cont’d)

26

Dividend yieldPE

12.07

18.25

14.60

17.81

22.57

10.79

17.14

9.69 11.13

9.62

0.00

5.00

10.00

15.00

20.00

25.00

Y11 Y12 Y13 Y14 Y15

SET SNC

3.7%3.0% 3.2% 2.9% 3.4%

4.6%

6.5%

10.2%

7.1%6.5%

0.0%

3.0%

6.0%

9.0%

12.0%

Y11 Y12 Y13 Y14 Y15

SET SNC

6.73 7.00 7.30 8.03 8.55

21.9024.50

15.70 14.00 13.70

-5.00

5.00

15.00

25.00

35.00

Y11 Y12 Y13 Y14 Y15

BVPS Mkt p.

BVPS & Market price EPS DPS

1.81 1.72

1.471.31 1.42

1.60 1.60

1.00

0.660.90

0

1

2

3

Y11 Y12 Y13 Y14 Y15

EPS DPS

88% 93%

68%50% 63%

Dividend policy > 50% of profit

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.

SNC