Business Summary

Opportunity Day : Feb 28, 2013

Pylon Public Company Limited

Outline

3

Business Overview

Current Overview

Industry Overview

Future Outlook

Capital Structure

Registered Capital : Baht 300 million

Paid Up Capital : Baht 200 million

(Warrant PYLON-W1 : Units 100 million)

Subsidiary : Excelon Co., Ltd

Registered Capital : Baht 80 million

Pylon holds 51%

4

Business Overview

Products : Large Bored Pile

Use for foundation of buildings, bridges, factories, road, etc.

Pile sizes are varied in diameter from small up to 2 m and depth up to 75 m.

5

Business Overview

Products : Jet Grouting

Used for ground improvement to improve soil stability and strength.

Applications: road works, airport runway, slope protection, dam, etc.

6

Business Overview

Products : Diaphragm Wall

Used for retention systems and permanent foundation wall of deep basement, underpass tunnel, subway station, etc.

7

Business Overview

Products : Constructions

Design, construction, and architectural works.

Target on civil works and low rise buildings such as flood protection, drainage, factory, warehouse etc.

8

Business Overview

Airport Rail Link 233.5 MB (Bored Piles)

Siam Square (Block L) 101.0 MB (Bored Piles)

Le Luk Condo (A+B) 89.0 MB (Bored Piles)

Metro Avenue 83.5 MB (Bored Piles)

Klong Suvarnabhumi 108 MB (Jet Grouting)

AIA - CMC 133.6 MB (Bored Piles)

We Build Impression!!!

9

Business Overview

ShowDC 137.4 MB (Bored Piles)

TC Green I/II 95.5 MB (Bored Piles)

AIA - Sathorn 62.6 MB (Bored Piles)

We Build Impression!!!

10

Business Overview

South Interchange 71.8 MB (Bored Piles)

Equinox Phahol-Vibha 74.0 MB (Bored Piles)

BMA Building 67.0 MB (Bored Piles)

Amanta Condo Rama4 62.5 MB (Bored Piles)

Circle Living Prototype 69.0 MB (Bored Piles)

Suwanbabhumi Fire Rescue Stations

57.0 MB (Jet Grouting)

Starview 77.0 MB (Bored Piles)

We Build Impression!!!

11

Business Overview

Astro Condominium 40.2 MB (Bored Piles)

The Bright SK24 44.9 MB (Bored Piles)

Emporio Place SK24 51.3 MB (Bored Piles)

185 Rajadamri 43.9 MB (Bored Piles)

4-Points by Sheraton 37.0 MB (Bored Piles)

Chapter One 40.0 MB (Bored Piles)

Radisson Plaza 42.1 MB (Bored Piles)

Villa Asoke 33.0 MB (Bored Piles)

Outline

12

Financial Overview

Business Overview

Industry Overview

Future Outlook

Financial Overview : Q4/2012

13

Financial Overview

3-m

on

th

(mill

ion

bah

t) Item Company Consolidated

Revenue 291.92 Good 294.94 Good

Gross Profit 52.30 17.9% Good 53.11 18.0% Good

Net Profit 30.46 10.4% Good 34.26 11.6% Good

12

-mo

nth

(m

illio

n b

aht)

Item Company Consolidated

Revenue 1,019.67 Good 1,089.93 Good

Gross Profit 154.77 15.2% Average 121.22 11.1% Average

Net Profit 77.66 7.6% Average 64.23 5.9% Average

Financial Overview : Q4/2012

14

Financial Overview

12

-mo

nth

Item Company Consolidated

D/E Ratio 1.02 Good 1.01 Good

Current Ratio 1.47 Good 1.45 Good

ROA 9.07% Good 7.63% Good

ROE 18.34% Good 15.73% Good

EPS (baht) 0.39 Good 0.32 Good

Outline

15

Industry Overview

Business Overview

Current Overview

Future Outlook

Industry Overview

The expansion of the whole construction industry.

Public sector

The investment in flood protection systems.

The expansion of BTS/MRT systems.

Signing contract and starting construction.

Sri Rat-Outer Ring Road Expressway

Red Line : Bang Sue – Rangsit (contract 1-2)

Green Line : Baring – Samutprakarn

16

Industry Overview

Industry Overview

Public sector

The expansion of BTS/MRT systems. (cont’)

Coming soon

Green Line : Morchit – Sapanmai

Pink Line : Kaerai – Minburi

Orange Line : Bangbumru – Bangkapi

High Speed Train

The spending and investment to restore and stimulate the economy.

17

Industry Overview

Industry Overview

Private sector

The expansion of condominium demand after recovery in mid of Q3/2555

Main Developers

The expansion of office-buildings, warehouses and factories.

18

Industry Overview

LPN Development

Pruksa Real Estate

Land and House

Asian Property

Quality House

Central Group

Other developers

Industry Overview

Domestic Political Stability

Less impact after purple line and blue line are under construction. Other lines are coming such as red and green line.

New election in July 2011 with landslide votes for Pua-Thai party forming the highly stable government.

Constitutional Amendment.

Construction Material’s price

Volatility in commodity materials.

Impact of 300 Baht minimum wage.

19

Industry Overview

Outline

20

Future Outlook

Business Overview

Current Overview

Industry Overview

Future Outlook

Construction Industry : Upward trend

Foundation construction : continuous expansion (public and private sector)

Flood protection system : more investment due to flood crisis (opportunity for Excelon)

Tax Incentive

20% in 2013

Inflow of Works

Success rate : better and better (from record)

Company Backlog : 1,208.0 M.Baht (Dec 31, 2012)

21

Future Outlook

Company Backlog : Dec 31, 2012

Current Work on Hand 1,046.4 M.Baht

Subsidiary’s work on Hand 161.6 M.Baht

Total 1,208.0 M.Baht

22

Future Outlook

497.4, 47%

133.6, 13%

415.4, 40%

Backlog (break down by type of work)

Foundation (Labor andMaterial)

Foundation (Laboronly)

Construction

Company

Inflow of Revenue (from backlog)

23

Future Outlook

Description 2013

2014 Total

Q1 Q2 Q3 Q4

Foundation

(Labor and

Material)

149.29 206.01 142.10 - - 497.4

Foundation

(Labor only) 45.23 77.91 10.46 - - 133.6

Construction 92.03 88.77 65.53 62.37 106.70 415.4

Total 286.55 372.69 218.09 62.37 106.70 1,046.4

Company Highlights

Industry outlook: upward trend

Continue making net profits (full year)

Keep high dividend payment ratio (not less than 40% of net profits)

Maintain strong financial status (low debt and good Liquidity)

Show strong and sustainable growth

24

Future Outlook

Promising Industry Prospects

Reputable Foundation

Professionals

Strong Financial Position

Experienced Team

Summary

25

•Government mega project •Few competitors •Low bad dept •Low risk for material price volatility

•Low D/E Ratio •Stable revenue growth •Promising dividend payment ratio of 40%

•Reputation in Quality and Efficiency •Well-equipped machinery •One of the top foundation company in Thailand

•Committed management team •Highly regarded and experienced team of engineers •Relationship between Company and Customers

Q & A

27

Revenue & G.P. : Company Appendix

2008 2009 2010 2011 2012

Q1 154 160 111 216 337

Q2 181 106 129 213 189

Q3 221 71 151 240 202

Q4 162 57 221 173 292

Year End 719 394 612 841 1,020

%G.P. 15.6% 14.6% 14.5% 19.2% 15.2%

154 160 111

216

337

181

106 129

213 189 221

71

151

240 202

162

57

221 173

292

719

394

612

841

1,020

15.6% 14.6% 14.5%

19.2%

15.2%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

0

250

500

750

1,000

1,250

Re

ve

nu

e (

Mil

lio

n B

ah

t)

Q1 Q2 Q3 Q4 Year End %G.P.

28

Revenue & G.P. : Consolidated Appendix

2008 2009 2010 2011 2012

Q1 154 238 115 220 370

Q2 181 180 135 246 211

Q3 221 107 153 270 214

Q4 166 69 225 208 295

Year End 722 594 627 945 1,090

%G.P. 15.7% 13.1% 13.2% 18.2% 11.1%

154

238

115

220

370

181 180 135

246 211 221

107 153

270 214

166

69

225 208

295

722

594 627

945

1,090

15.7%

13.1% 13.2%

18.2%

11.1%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

0

250

500

750

1,000

1,250

Re

ve

nu

e (

Mil

lio

n B

ah

t)

Q1 Q2 Q3 Q4 Year End %G.P.

29

Net Profit : Company Appendix

2008 2009 2010 2011 2012

Q1 10 11 5 25 41

Q2 13 12 4 16 13

Q3 26 0 5 25 -6

Q4 9 -7 25 8 30

Year End 58 17 39 75 78

%N.P. 8.0% 3.6% 5.1% 8.0% 7.6%

10 11 5

25

41

13 12

4

16 13

26

0 5

25

-6

9

-7

25

8

30

58

17

39

75 78

8.0%

3.6% 5.1%

8.0% 7.6%

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

-20

0

20

40

60

80

100

120

Ne

t P

rofi

t (M

illi

on

Ba

ht)

Q1 Q2 Q3 Q4 Year End %N.P.

30

Net Profit : Consolidated Appendix

2008 2009 2010 2011 2012

Q1 10 20 1 25 43

Q2 13 17 3 18 0

Q3 26 1 4 20 -13

Q4 9 -16 25 12 34

Year End 58 22 33 75 64

%N.P. 8.0% 3.6% 5.1% 8.0% 5.9%

10

20

1

25

43

13 17

3

18

0

26

1 4

20

-13

9

-16

25

12

34

58

22

33

75 64 8.0%

3.6% 5.1%

8.0%

5.9%

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

-20

0

20

40

60

80

100

120

Ne

t P

rofi

t (M

illi

on

Ba

ht)

Q1 Q2 Q3 Q4 Year End %N.P.

31

Dividend vs Net Profit Appendix

2008 2009 2010 2011 2012

Net Profit 58 17 39 75

Dividend 56 25 16 40

%Dividend(policy)

40% 40% 40% 40% 40%

%Dividend(actual)

97% 156% 41% 53%

58

17

39

75

56

25 16

40

97%

156%

41% 53%

-200.0%

-150.0%

-100.0%

-50.0%

0.0%

50.0%

100.0%

150.0%

200.0%

250.0%

0

25

50

75

100

125

150

175

200

Div

ide

nd

(M

illi

on

Ba

ht)

Net Profit Dividend %Dividend(policy)

%Dividend(actual)

???

???

???

32

Balance Sheet : Company Appendix

2008 2009 2010 2011 2012

Asset 531 420 559 698 857

Liability 224 103 228 313 433

Equity 306 317 331 386 423

D/ERatio

0.73 0.32 0.69 0.81 1.02

CurrentRatio

1.50 2.28 1.65 1.60 1.47

531

420

559

698

857

224

103

228 313

433

306 317 331 386 423

0.73 0.32 0.69 0.81 1.02

1.50

2.28

1.65 1.60 1.47

-3.00

-2.00

-1.00

-

1.00

2.00

3.00

0

250

500

750

1,000

1,250

1,500

Am

ou

nt

(Mil

lio

n B

ah

t)

Asset Liability Equity D/E… Current…

33

Balance Sheet : Consolidated Appendix

2008 2009 2010 2011 2012

Asset 551 497 600 729 842

Liability 230 156 258 332 424

Equity 321 341 342 397 418

D/ERatio

0.72 0.46 0.76 0.84 1.01

CurrentRatio

1.63 2.00 1.61 1.57 1.45

551 497

600

729

842

230 156

258 332

424 321 341 342

397 418

0.72 0.46 0.76 0.84 1.01

1.63 2.00

1.61 1.57 1.45

-3.00

-2.00

-1.00

0.00

1.00

2.00

3.00

0

250

500

750

1,000

1,250

1,500

Am

ou

nt

(Mil

lio

n B

ah

t)

Asset Liability Equity D/E… Current…