EGST — Investor Presentation 2021

Nov 25, 2021

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STOCK CODE: 2211

Evergreen Steel Online Investor Conference

NOVEMBER 25, 2021

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Disclaimer

 EGST (the “Company”) is not responsible for updating or revising any information in this presentation, including all forward-looking insights, when new events or situations occur.

 Investors should treat the forward-looking insights in the preceding paragraph as flexible information that may be revised in the future instead of legally-binding promises. The information in this presentation does not express, imply or guarantee its correctness, completeness or reliability. It also does not provide a complete discourse of the Company, the industry and major future developments.

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A enda g

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• Performance and Development of the Steel Structure Business

• Performance and Development of the Reinvestment Business

• Consolidated Financial Overview

• Q&A

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Performance and Development of the Steel Structure Business

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Steel Structure Business Performance – Erection Volume Breakdown

Breakdown of the Steel Structure Erection Volume in the Past Year

Erection Volume

25,000

20,000 15,000 10,000 5,000

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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2021

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Steel Structure Business Performance – Order Breakdown

Current Orders (As of September, 2021)	Current Orders (As of September, 2021)	Current Orders (As of September, 2021)	New Orders (Between January, 2020 and September, 2021)	New Orders (Between January, 2020 and September, 2021)	New Orders (Between January, 2020 and September, 2021)
Item	Tons	Ratio	Item	Tons	Ratio
Factories	101,852	46%	Factories	151,464	49%
Buildings	120,382	54%	Buildings	156,115	51%
Total	222,234	100%	Total	307,579	100%

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Steel Structure Business Development

• New construction projects of factory/office buildings, factories for traditional and high-tech industries as well as a steady growth in public infrastructure projects have resulted in consistent growth for the steel structure industry.

• In raw of response to rising materials prices and a shortage

• labor, EGST (the “Company”) has implemented sound supplier management with a flexible price strategy for steel with our clients simultaneously.

• EGST (the “Company”) has been progressively going after large commercial development projects, high-tech factory projects, as well as steel structure residential and office building projects.

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Reinvestment Business

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Reinvestment Business Details

(1) Hsin Yung Enterprise Corporation: A BOO project with the Taoyuan City Government, this corporation disposes of domestic garbage in Taoyuan City, collects general and industrial wastes, and sells the power generated from waste processing.

(2) Super Max Engineering Enterprise Co., Ltd.: Mainly processes hazardous industrial waste and infectious medical waste.

• (3) Ever Ecove Corporation:

① Approved and established in August, 2018, Ever Ecove facilities are currently under construction.

② In the future, it will mainly process domestic garbage in Taoyuan City, collect general and industrial wastes, and sell the power generated from waste processing.

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Hsin Yun Business Overview g

Waste Intake

Intake Disposal Year (ton) (ton) 2018 441,021 439,825 2019 429,329 427,231 2020 426,652 427,119 First 3 quarters 301,278 305,650 of 2021

 Steady business performance with consistent waste intake and disposal over the past 3 years.

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450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
2018 2019 2020 First 3 quarters of
2021
Unit: Ton
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Waste Disposal

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450,000
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
2018 2019 2020 First 3 quarters of
2021
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Hsin Yun Business Overview g

Power Power Ratio Genera Sold (%) Year tion (MWh) (MWh) 2018 252,360 221,293 87.69 2019 265,395 230,269 86.76 2020 260,582 224,944 86.32 First 3 quarters 185,912 159,457 85.77 of 2021

 Steadily generating power at full load for the past 3 years.

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Power Generated
300,000
250,000
200,000
150,000
100,000
50,000
0
2018 2019 2020 First 3 quarters of
2021
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Power Sales
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250,000
200,000
150,000
100,000
50,000
0
2018 2019 2020 First 3 quarters of
2021
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Hsin Yun Future Pros ects g p

 Hsin Yung’s BOO contract with the Taoyuan City Government expired on October 8, 2021 and was renewed on October 9, 2021.

 Considering that the calorific value of waste is rising in Taiwan (especially among the six municipalities) and the government is committed to reducing pollution emissions, Hsin Yung will upgrade its incinerators incorporating advanced waste disposal and pollution prevention technologies from abroad. Once the BOO contract expires, Hsin Yung will continuously improve and update its facilities in response to the current waste disposal bottleneck (waste generation ＞ disposal capacity). Hsin Yung believes that, overall, it will have steady and consistent operational capacity in the future.

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Su er Max En ineerin Business Overview p g g

Waste intake and disposal for the past 3 years

Waste intake and disposal for the past 3 years	Waste intake and disposal for the past 3 years	Waste intake and disposal for the past 3 years	Waste intake and disposal for the past 3 years	Waste intake and disposal for the past 3 years	Waste intake and disposal for the past 3 years	Waste intake and disposal for the past 3 years	Waste intake and disposal for the past 3 years	Waste intake and disposal for the past 3 years
Unit: Ton
Year	2018		2019		2020		First 3quarters of 2021
Waste	Intake	Disposal	Intake	Disposal	Intake	Disposal	Intake	Disposal
Annual Statistics	20,718	19,572	21,760	21,594	22,314	22,042	15,602	16,131

25,000

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20,000
15,000
10,000
5,000
0
2018 2019 2020
Unit: Tons
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Intake
Disposal
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First 3 quarters of 2021

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Su er Max En ineerin Future Pros ects p g g p

 In response to the government’s emissions reduction policy, Super Max continues to improve its air pollution prevention and promote capabilities and increase its waste disposal capacity.

 For Max’s new the construction team has Super incinerator, followed the basic and the of subcontracted design scope work provided by the consultancy company, collected and compiled the invitation to bid documents for the 6 subcontracted projects. The bids will be reviewed and contracts will be negotiated with the winning tenderer(s). Super Max expects that the completion of the new incinerator will increase its waste disposal capacity and overall competitiveness.

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Ever Ecove Future Pros ects p

 After its completion, Ever Ecove is expected to provide a capacity of 219,000 tons of thermal waste treatment and 49,275 tons of anaerobic digestion per year. It will also accommodate over 25,000 cubic meters of solidified landfill waste. In addition, the waste will be used to generate renewable energy and it is expected to generate 200 million kWh of power.

 The pandemic has slowed down construction progress and Ever Ecove is now expecting to begin commercial operation in 2022.

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Consolidated Financial Overview

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Consolidated Financial Overview

onsolidated Financial Overview	onsolidated Financial Overview	onsolidated Financial Overview	onsolidated Financial Overview	onsolidated Financial Overview
Evergreen Steel’s Financial Overview for the Past 3 Years Unit: 1,000 NTD
Item	2018	2019	2020	First 3 quarters of 2021
Operating Revenue	10,685,318	8,268,207	9,349,649	9,082,592
Operating Profit	1,449,667	1,336,124	1,534,312	1,333,444
Net Income After Tax	1,310,339	1,325,958	1,404,259	1,245,296
EPS (NTD)	2.53	2.44	2.65	2.43

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12,000,000
10,000,000
8,000,000
6,000,000
Operating Revenue
Net Income After Tax
4,000,000
2,000,000
0
2018 2019 2020 First 3 quarters of
2021
Unit: thousand NTD
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Consolidated Financial Overview

onsolidated Financial Overview	onsolidated Financial Overview	onsolidated Financial Overview	onsolidated Financial Overview	onsolidated Financial Overview	onsolidated Financial Overview
Evergreen Steel’s Sources of Operating Revenue for the Past 3 Years Unit: 1,000 NTD
Company Name		2018	2019	2020	First 3 quarters of 2021
EGST		8,657,027	6,109,403	7,263,895	7,567,312
Reinvestment Business		2,028,291	2,158,804	2,085,754	1,515,280
Total		10,685,318	8,268,207	9,349,649	9,082,592
0 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 Unit: thousand NTD	Reinvestment Business EGST

First 3 quarters of 2021

2018

2019

2020

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Consolidated Financial Overview

Consolidated Financial Overview	Consolidated Financial Overview	Consolidated Financial Overview	Consolidated Financial Overview	Consolidated Financial Overview	Consolidated Financial Overview
Evergreen Steel’s Sources of Net Profit for the Past 3 Years Unit: 1,000 NTD
Company Name		2018	2019	2020	First 3 quarters of 2021
EGST		437,620	356,517	449,024	582,522
Reinvestment Business		542,737	590,920	594,625	410,090
Net Profit for the Parent Company		980,357	947,437	1,043,649	992,612
0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 Unit: thousand NTD	2018 2019 2020 First 3 quarters of 2021 Reinvestment Business EGST

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Consolidated Financial Overview

 Financial performance Q3, 2021 and YoY comparison of Evergreen Steel

Unit: 1,000 NTD

Item	Q3, 2021	Q3, 2020	Difference	Ratio
Operating Revenue	3,432,910	2,318,881	1,114,029	48.04%
Operating Profit	534,912	456,060	78,852	17.29%
Net Income After Tax	576,769	471,505	105,264	22.33%
EPS (NTD)	1.16	0.95	0.21	22.11%

 Financial performance first 3 quarters, 2021 and YoY comparison of Evergreen Steel

Unit: 1,000 NTD

Item	First 3 quarters in 2021	First 3 quarter in 2020	Difference	Ratio
Operating Revenue	9,082,592	6,757,823	2,324,769	34.40%
Operating Profit	1,333,444	1,158,241	175,203	15.13%
Net Income After Tax	1,245,296	1,070,685	174,611	16.31%
EPS (NTD)	2.43	2.03	0.40	19.70%

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Thank You

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Q&A