PHD — Interim / Quarterly Report 2021

Aug 26, 2021

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We shape our buildings; thereafter they shape us. Prince Housing & Development Corp. 2021H1 Annual Results

Security Code:2511TT

�1

Disclaimer Statement

• This presentation contains forward looking statements which are estimated based

• Forward-looking statements involve significant risks and uncertainties, should not

• Prince Housing & Development Corp. expressly disclaims any obligation to

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Prince Housing & Development Corp.

�2

Content

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Prince Housing & Development Corp.

�3

Company Overview

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2015~2020 TOP 6%~20% CG eval. result

2011

The capital exceeded NT$10 billion

2005 Signed The NTU Dorm BOT The NCKU Dorm BOT

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2004 Signed The Taipei City Hall Bus Terminal BOT 1991

Went Public on TWSE 2511.TW

1990 Investment in Hotel business �

1973

PHD was established in Tainan City and the capital was NT$150 million.

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Prince Housing & Development Corp.

�4 Overview

Company Overview

Social Progress

• ü Provide excellent products and services

• ü Create a healthy workplace environment

• ü Protection of consumer rights

Economic Growth

• ü Focus on business management

• ü Create shareholder rights

• ü Create job opportunities

• ü Promote economic development

• ü Employee salary increase

• ü Labor safety

• ü Community feedback

• ü Caring for society

Environmental Sustainability

• ü Promote green environmental protection ü Implement energy saving and carbon reduction

• ü Inventory carbon footprint and water footprint

• ü Reduce greenhouse gas

Corporate Social Responsibility

• ü Reduce energy consumption

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Prince Housing & Development Corp.

�5 Overview

Company Overview

CORPORATE GOVERNANCE IN TAIWAN

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6%~20%

PHD is the only company in the housing & development industry for six consecutive years of Corporate Governance evaluation results in the 6% to 20% rating. We will continue to work hard on ESG issues.

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Keep up the good work 2021 2017 2018 2019 2020

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Prince Housing & Development Corp.

�6 Overview

Company Overview

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2511TW Ticker 1 NT$ 16.2Billion Capital 2 Total Asset NT$ 49.09Billion 3

Consolidated Rev 4 NT$ 5.91Billion NAV 5 NT$ 16.22

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�7 Overview

Financial Data

The financial numbers hereby are based on International Financial Reporting Standards(IFRS) Cumulative consolidated numbers were reviewed by CPA

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�8 Financial Data

Expressed in million of NT dollars

Financial Data (Consolidated)

Balance Sheet		2021H1	%	Variance	%	2020H1	%
Construction in Progress		1,815	4	(1,275)	(41)	3,089	6
Land Held for Construction		7,038	14	767	(12)	6,271	12
Building and Land Held for Sale		5,095	10	(3,703)	(42)	8,798	17
Prepayment for Land		229	0	6	2	223	0
Others		21	0	(554)	(96)	575	1
Inventories Subtotal		14,198	29	(4,760)	(25)	18,957	36
Cash and Other Current Assets		6,919	14	(188)	(3)	7,107	13
Funds and Investments		5,471	11	1,792	49	3,680	7
Total Assets		49,094	100	(4,025)	(8)	53,120	100
Loans&Bonds		10,106	21	(5,786)	(36)	15,892	30
Current Contract Liabilities		785	2	(8)	(1)	973	1
Receipts in Advance		87	0	(6)	(6)	92	0
Total Liabilities		22,585	46	(6,839)	(23)	29,423	55
Stockholders Equities		26,509	54	2,813	12	23,696	45
Current Ratio		317.77%				311.85%
Debt Ratio		46.00%				55.40%
Net Debt to Equity		27.63%				51.46%

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�9 Financial Data

Expressed in million of NT dollars

Financial Data (Consolidated)

Profit and Loss Statement	2021H1	%	Variance	%	2020H1	%
Operating Revenue	5,910	100	1,098	23	4,812	100
Operating Cost	(4,331)	(73)	(220)	5	(4,111)	(85)
Operating Profit	1,580	27	879	125	701	15
Operating Expenses	(1,126)	(19)	(282)	33	(844)	(18)
Operating Income	453	8	596	(417)	(143)	(3)
Pre-tax Income	1,613	27	1,582	5,231	30	1
Net Income	1,547	26	1,493	2,777	54	1
Earnings per Share	0.98				0.07
Net Assets Value	16.22				14.45
Return on Equity	6.07%				23.00%

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�10 Financial Data

Expressed in million of NT dollars

Financial Data (Consolidated)

Cash Flow Statement	2021H1	Variance	2020H1
Cash at beginning of the year	5,407	(267)	5,674
Cashflows from Operating Activities	1,784	994	790
Interest paid	(198)	(1)	(197)
Cashflows from Investing Activities	245	16	229
Cashflows from Financing Activities	(4,655)	(1,660)	(2,995)
Dividend paid	0	0	0
Net Increase(Decrease)in Cash	(2,626)	(650)	(1,976)
Cash at end of year	2,781	(917)	3,698

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�11 Financial Data

Expressed in million of NT dollars

Financial Data (Consolidated)

Revenue(%) Segment Information 2021H1 Breakdown
	Segments	Property	Construction	Hotel	FID	Others	Total	Adj.	Consolidated
	Segments Revenue	3,961	1,015	547	257	193	5,973	(63)	5,910
	Revenue (%)	66.31%	16.99%	9.16%	4.31%	3.24%	100%
	YOY	88.17%	(46.10%)	2.65%	7.63%	(3.90%)	20.41%		22.82%
	Segments Income	690	(9)	(367)	96	3	413	40	453
Income(%)
	Income (%)	166.84%	(2.24%)	(88.64%)	23.30%	0.74%	100%
	EBT Margin	17.42%	(0.91%)	(67.03%)	37.44%	1.58%	6.92%		7.67%
	YOY	827.16%	(155.74%)	18.31%	**8.00% **	(55.49%)	436.83%)		(417.51%)

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�12 Financial Data

Financial Data

Dividend Policy

Policy
2016	2017
Cash Dividend $1.0	Cash Dividend $0.65	2018 Cash Dividend $0.65	2019 Cash Dividend $0.50	2020 Cash Dividend $0.40	The dividend and bonuses of shareholders can be appropriated with the cumulative distributable earnings, with a minimum of 20% of distributable earnings of the year and the minimum cash dividend of 30% of the total amount appropriated for dividends and bonuses of directors shall draw up a proposal for profit
					distribution and submit it to the meeting of shareholders for
					resolution before distribution.
EPS					2020 Payout Ratio	**82% **
0.99	EPS 0.79	EPS 0.77	EPS 0.59	EPS 0.49	2019 Payout Ratio 2018 Payout Ratio	85% **84% **
					2017 Payout Ratio 2016 Payout Ratio	82% **101% **

2020 dividend distribution plan was proposed and resolved on 2021/03/18 Board meeting.

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Financial Data-Dividend

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Construction & Real Estate

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�14 Financial Data-Real Estate

Construction & Real Estate

Residential Project Area

Northern Taiwan Taipei City New Taipei City Taoyuan City Hsinchu City Central Taiwan Taichung City Changhua City Nantou County Southern Taiwan Tainan City Kaohsiung City

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�15 Financial Data-Real Estate

Construction & Real Estate

Residential Project Area -Northern Taiwan

Ling Ko Dist. Li Bali Dist. Chung Chang Sec. Shing Sec. Prince Hwa-Wei Prince Shinyi

Prince Pine Garden Prince W

Purchase of land in 2021 Total Sales Size 59,000 square meters Prince Housing & Development Corp.

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Financial Data-Real Estate

�16

Construction & Real Estate

Residential Project Area -Northern Taiwan

Project Name	**Location **	Salable Value	Sales		Year of completion	Year of completion	Year of completion	Year of completion	Year of completion
		(billion)	Rate(%)		Before 2021	2021	2022	2023	2024
Prince Shinyi	TPH	3.00	82%
Prince Pine Garden	TYC	1.01	98%
Prince Hwa-Wei	TPE	1.80	27%
Prince W	TPH	1.26	97%
Linkou Dist. Li Shing Sec.	TPH	2.52
Bali Dist. Chung Chang	TPH	2.10
Total		11.69

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�17 Financial Data-Real Estate

Construction & Real Estate

Qingshui Dist. Wu-Show Sec.

Residential Project Area -Central Taiwan

Prosperous New World Prince Xian-Heng Beitum Dist.

Prince Holiday Mansion

Purchase of land in 2021 Total Sales Size 59,000 square meters

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Financial Data-Real Estate

�18

Construction & Real Estate

Residential Project Area -Central Taiwan

		Salable Value	Sales		Year of completion	Year of completion	Year of completion	Year of completion	Year of completion
Project Name	**Location **	(billion)	Rate(%)		Before 2021	2021	2022	2023	2024
Prince Xian-Heng	TXG	1.91	53%
Prince Holiday Mansion	NTO	0.86	99%
Prosperous New World	TXG	2.44	99%
Qingshui Dist. Wu-Show	TXG	1.02
Beitum Dist. Rong-De	TXG	2.05
Total		8.28

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�19 Financial Data-Real Estate

Construction & Real Estate

Residential Project Area -Southern Taiwan

World of Peak

Shanhua Dist. Shan-Chia Sec. Prince Win2 Future Anping Dist. Flower-Bo 5 Jin-Hua Sec. Prince Castle B(Condominium) Prince Castle A(Terrace House) Prince Cloud C2(Condominium) Prince Cloud E

Purchase of land in 2021 Total Sales Size 200,000 square meters Prince Housing & Development Corp.

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Financial Data-Real Estate

�20

Construction & Real Estate

Residential Project Area-Southern Taiwan

Pt N	**Lti **	Salable Value	Sales		Year of completion	Year of completion	Year of completion	Year of completion	Year of completion
rojec ame	**ocaon **	(billion)	Rate(%)		Before 2021	2021	2022	2023	2024
Flower-Bo 5	TNN	2.15	99%
Prince Win2 Future	TNN	1.00	98%
Prince Castle A(Terrace House)	KHH	1.94	37%
World of Peak	TNN	1.77	91%
Prince Castle B(Condominium)	KHH	5.52	78%
Prince Cloud E	TNN	2.04
Shanhua Dist. Shan-Chia Sec.	TNN	0.69
Anping Dist. Jin-Hua Sec.	TNN	3.02
Jin Yi Xing Area	KHH	10.50
Total		28.63

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�21 Financial Data-Real Estate

Construction & Real Estate

Expressed in billion of New Taiwan dollars

Expected Launch Value and Year

Northern Taiwan

Central Taiwan

Southern Taiwan

Prince Housing & Development Corp.

�22 Financial Data-Real Estate

Construction & Real Estate

Expressed in million of New Taiwan dollars

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Revenue

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Pre-tax Profit

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�23 Financial Data-Real Estate

Investment Subsidiaries

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�24

Investment Subsidiaries

BOT Income Properties ︾ NTU BOT NCKU BOT

Chartered period 「 NTU 47Years NCKU 35Years

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Expressed in million of NT dollars

Revenue Pre-tax Profit

2021

2005 2008 NTU 31 Years Mar. NTU signed Sep. Started NCKU 19 Years May. NCKU signed Operating

2040 2052

NCKU NTU

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�25 Investment Subsidiaries-Fixed Income Property

Investment Subsidiaries

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Special Purpose Vehicle(SPV) ： PDC Chartered period 50 Years

30%

Site Area 16,280 M[2 ] Total Floor Area 144,037 M[2]

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20%
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Ownership % Prince 30% Uni_President PCSC (7-11) PIDC

Project	Bus Station & Parking Area	W Taipei Hotel	Uni-Ustyle Department Store
Floor	1F & B4~B5	8F~31F	B2~7F
Operation mode	Operating	Rental	Rental
Proprietor	PDC	Times Square Int’l	PDSC
Ownership%	30%	100%	0%

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�26 Investment Subsidiaries-BOT

Investment Subsidiaries

PDC Operation 2019H1~2021H1

Expressed in million of NT dollars

34% 500 ~~33%~~ 29% 400 26% 21% 300 17% ~~466~~ 460 413 200 9% ~~79~~ 64 100 34 0% 0 2019H1 2020H1 2021H1 Gross Profit Margin Net Sales Net Income before Tax

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�27 Investment Subsidiaries-BOT

Investment Subsidiaries

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Investment Subsidiaries

： PHD Recognizes Revenue from l 100% W Hotel Net Income l 30% Taipei City Bus Terminal BOT Project

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100% Operating Profit 30%Net Income

pay royalties pay the rent PDC Times Square International l Management Support l PDC -Lease Floor Area to W Hotel l Incentive Fee & Base Fee l PDC- Revenue Base

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�29 Investment Subsidiaries-Hotel

Investment Subsidiaries

W Hotel Taipei in 2019H1~2021H1 Financial data

Expressed in million of NT dollars

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50% 1,000
42%
38% 800
25% 600
944
13% 400
0% 200
318 298
79
-13% 0
(18%) (212) (238)
-25% -200
(28%)
-38% -400
2019H1 2020H1 2021H1
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Gross Profit Margin Net Sales Net Income before Tax

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�30 Investment Subsidiaries-Hotel

Investment Subsidiaries

W Hotel Taipei Revenue in 2021H1 in BU %

Expressed in million NT dollars

160 million 129 million 10 million

53% 43% 4% FB Revenue Room Revenue Others Revenue The Kitchen Table� YEN 405 rooms Spa & Fitness WET Bar� WOODBAR� YEN Bar Meetings� Weddings

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�31 Investment Subsidiaries-Hotel

Investment Subsidiaries

Comparison of W Hotel Taipei and Competitors

Expressed in NT dollars

Yearly Accumulative Data		NBR	2021	2021	2021	2020	2020	2020	Variance	Variance	Variance
June 2021YTD		RMS	OCC	ADR	REVPAR	OCC	ADR	REVPAR	OCC	ADR	REVPAR
W Taipei		405	28.10%	5,684	**1,597 **	24.12%	7,916	1,909	16.50%	**(28.20%) **	(16.40%)
Le Meridien		160	34.70%	5,144	1,785	28.26%	7,001	1,979	22.80%	**(26.50%) **	(9.80%)
Regent Taipei		538	37.31%	3,562	**1,329 **	35.10%	5,030	1,765	6.30%	**(29.20%) **	(24.70%)
Humble House		232	27.77%	4,281	**1,189 **	39.74%	4,022	**1,598 **	(30.10%)	6.50%	(25.60%)
Far Eastern Shangri-la		420	25.19%	4,298	**1,082 **	21.60%	5,529	1,194	16.60%	**(22.30%) **	(9.40%)
Marriott Taipei		468	25.67%	3,865	**992 **	15.80%	5,254	830	62.40%	(26.40%)	19.50%
Sheraton Grand Taipei		688	29.78%	2,981	**888 **	24.56%	4,151	1,019	21.20%	**(28.20%) **	(12.90%)
Grand Hyatt Taipei		850	21.25%	4,082	**867 **	19.65%	5,494	1,080	8.10%	**(25.70%) **	(19.70%)
Total		3,761	27.81%	4,006	**1,114 **	24.59%	5,321	1,308	13.10%	(24.70%)	(14.80%)

Reference:Tourism Bureau

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�32 Investment Subsidiaries-Hotel

Investment Subsidiaries

New Expansion Plan- Hilton Tapestry

： PHD Recognizes Revenue l 100% Net Income l 175 Rooms

l Open in December 2020

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100% Operating Profit

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pay royalties

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Times Square International Stays

pay the rent

Fubon Life

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�33 Investment Subsidiaries

Investment Subsidiaries

Expressed in million of NT dollars

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Expressed in million of NT dollars
Others in 2019H1~2021H1 Financial data
100% 400
91% 92% 91%
320
75%
240
65%
361
56% 57% 160
50% 231
214 211
143 147 80
0
25%
(18)
(28) (36) (32) -80
(107) (100)
-160
2019H1 2020H1 2021H1
Gross Profit Margin_Splendor Gross Profit Margin _Howard Net Sales_Splendor
Net Sales_Howard Net Income_Splendor Net Income_Howard
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�34 Investment Subsidiaries-Hotel

Future Strategy

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CSR We will continue to work Strategy hard on CSR issues Seeking potential lands in six big cities and developing land near main traffic networks Target group First-time homebuyer Provide upscale properties to Taiwan aspirational middle class Competitiveness-2 The best developer in Tainan Group; enjoying economic scale Competitiveness-1 Vertical integration of resources to reduce costs

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�35 Future Strategy

Tainan Group Members

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Uni-
Tainan
PCSC
President
Spinning
2912.tw
1216.tw
1440.tw
Prince
Tait
Nantes TTET UCC
H&D
5902.tw
2108.tw 1232.tw 1104.tw
2511.tw
Ton Yi
SPT Uni -PSG
Industrial
1789.tw 2855.tw
9907.tw
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�36 intro

Prince Housing & Development Corp. (2511TT/2511TWO)

Please visit Investor Relation website http://www.prince.com.tw/finance.asp Please contact us at 9802021@prince.com.tw 1106031@prince.com.tw 1908028@prince.com.tw +886 2 2758 9599

21F.,No.11,Songgao Rd.,Sinyi Dist.,Taipei City,110 Taiwan

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Prince Housing & Development Corp.

�37

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Prince Housing & Development Corp.
Thank you for your support
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