15 March 2017

Opportunity Day

1

• About Thanasiri

• Our Projects

• Our Performance

• 2017 Outlook

Agenda

2

• 2017 Outlook

• Q&A

Thanasiri TimelineC

orp

ora

te M

ile

sto

ne

s

1985Established (Bht 50m)

2007Increased Share Capital (Bht 200m)

2003Restarted & Operated by 2nd Gen 2008

Owned TPD 99.6% (established in 1990)

2009Went LISTED In mai (Bht 255m)

2014• Alliance With E-Sarn Piman Group(Udonthani)

• Thanasiri Management Consulting

TG Group

TPD

PMS

TMC

99.6% 99.9%

60.75%

3

Pro

ject

De

ve

lop

me

nt

(established in 1990)

2003The 1st residential

project “Thanasiri Rattanatibet”

2006 - 2010Opened 10 Projects

• Nonthaburi 8 Projects

• Phuket 2 Projects

2011 - 2015Opened 11 Projects• Nontaburi 7 Projects

• Phuket 3 Projects

• Sakonakhon 1 Projects

2016Opened 4 Projects

• Nontaburi 3 Projects*• Udonthani 1 Projects

Area Projects Units MB

Nontaburi 19 2,249 8,699

Phuket 5 209 729

E-Sarn 2 191 781

Total 26 2,649 10,209

Our Passion (since 2005 till present)

Our PassionOur Passion Our Formula for SuccessOur Formula for Success

How We LeadHow We Lead

1. Be service-minded

2. Know how to do business

3. Build team and promote teamwork

“Develop HAPPY community for our customers

at every moment of life”

Good Team, Happy Customers,

Then HAPPY Profit

Manage Risk

Effectively

Manage

Community

Effectively

Expand Projects

Continuously

Develop

Products With

R&D Support

Build Quality

Home Within

Timeframe

How We WinHow We Win

THANA Culture : T-SMILETHANA Culture : T-SMILE

3. Build team and promote teamwork

To be one of the customers’ choice for a quality community

4

Small is Beautiful….

• Compact Project Size

• Beautiful Facilities

• Practical Functions & Design

• Deposits to Transfer 40 Days

• Construction cycle 4 months (Pre-Cast)

Thanasiri Business Model (2013 till present)

5

• Affordable Prices

• One-time Investment vs. Ongoing Costs

• Thana Residence

• Thana Habitat

• Thana Cluster

• Thana Village

• Thana Sio

• About Thanasiri

• Our Projects

• Our Performance

• 2017 Outlook

Agenda

6

• 2017 Outlook

• Q&A

Facilities near our projects

Place Status Responsible Agency

1The road connects Ratchaphruek Rd. -

Kanchanaphisek Rd. (East-West)

Opening of January 2015 Department of Rural Roads

2 MRT Purple Line Bangyai - Bangsue Opening of 6 August 2016 Mass Rapid Transit Authority of Thailand

3 Si Rat - West Ring Road Expressway

Opening of 22 August 2016Expressway Authority of Thailand

4 MRT Blue Line Tao Poon - Bangsue Expected to open in August 2017 Mass Rapid Transit Authority of Thailand

5 IKEA Bangyai Expected to open in end of a year 2017 IKEA

7

6The road connects Ratchaphruek Rd. -

Kanchanaphisek Rd. (North-South)

Start construction of June 2016 and Expiration of contract Nov 2018

Expected to open in 2018Department of Rural Roads

7 Motorway Bang Yai - Ban Pong - Kanchanaburi

Expected to complete all construction in 2019

Department of Highways

8Expansion of Ratchaphruek Road 10

lanes.

Episode 1 Completed Aug. 2015Episode 2 started to build in June 2015, completed

in the year 2017.Episode 3 is scheduled to be completed in 2020.

Department of Rural Roads

9Metro Purple Line South Tao Poon -

Rat BuranaProposed Office of the National Economics

and Social Development BoardMass Rapid Transit Authority of

Thailand

10 Third Stage Expressway Northbound N1

There are objections from Thammasat University. Can not be built

Expressway Authority of Thailand

The MRT Purple line Project (Bang-Yai – Bang Sue)

8

Will be opened

In Aug 17

The Expressway

9

อา้งองิขอ้มลู จาก ฐานเศรษฐกจิ - 1 March 2560จากหนังสอืพมิพฐ์านเศรษฐกจิ ปีทีF 37 ฉบบัทีF 3,239วันทีF 26 ก.พ. – 1 ม.ีค. พ.ศ. 2560www.bkkcitismart.com

10

Strategic Locations : Nontaburi

11

Closed (12)

Existing (6)

New (1)

Udonthani

12

Units MB Units MB % (Unit) Units MB

Zone Ratchaphruek

1 ธนาสริ ิราชพฤกษ-์ทา่นํ Oานนท ์ 33-2-94 SDH/SH/TH 175 947 142 774 81% 33 173

2 ธนาฮาบแิทต ราชพฤกษ ์- สรินิธร 14-2-56 SDH/DH 92 420 33 159 36% 59 261

3 ธนาคลสัเตอร ์ราชพฤกษ-์สถานบีางพลู 8-2-20 TH (3F) 77 345 5 19 6% 72 326

344 1,712 180 952 52% 164 760

Project Summary as of : Dec 31, 2016Value Sold RemainingProjects

Total

Area (Rais)

Product Type

Existing Projects 2 Billions

344 1,712 180 952 52% 164 760Zone Bangyai

4 ธนาซโิอ รตันาธเิบศร ์ 15-2-76 TH 157 405 85 206 54% 72 199

5 ธนาวลิเลจ2 พระราม 5 -บางใหญ่ 16-3-18 SDH 86 350 31 130 36% 55 220

6 ธนาคลสัเตอร ์สถานเีซ็นทรลั-บางใหญ่ 10-1-94 TH (3F) 77 391 6 27 8% 71 364

320 1,146 122 363 38% 198 783

7 สริวิลิเลจ อุดรธาน-ีแอรพ์อรต์ 39-1-80 SDH 179 706 13 60 7% 166 646

843 3,564 315 1,375 37% 528 2,189Grand Total

Total

Total

13

New Projects

14

New Projects

in 2017

TOTAL

Project Value

(MB)875 120 995

Units 95 40 135

Area26-2 3-2 30

New Projects in 2017

15

Area

(Rais)26-2 3-2 30

Products

Single

Detached

House

(2 Stories)

Town Home

(3 Stories)

Avg. Price

(MB)9.2 3.0 7.4

Opened Date 2Q17 4Q17

16

Function Area : 190 – 300 Sq.m.Land Plot 50 – 100 Sq.w.

17

Lands Waiting for Development

LocationArea (Rais)

Book Value

(MB)

AppraisalValue

(MB)

Appraisal

Date

TPD Kamala, Phuket 105-2-76.9 59.8 777.9 16 Jan 17

Rattanatibet Road107.5

18

TG

Rattanatibet Road

(Adjacent to Purple Line)2-0-87.9 18.5 107.5 2 Feb 15

4 Land Units next to land

No.20-3-94.6 8.4 17.4 11 Jan 13

TOTAL 86.7 902.8

Lands Waiting for Development in Phuket

19

• About Thanasiri

• Our Projects

• Our Performance

• 2017 Outlook

Agenda

20

• 2017 Outlook

• Q&A

Topline Performance

851

145

16093

28

62

400

500

600

700

800

900

1,000

812

153 175119

3031

400

500

600

700

800

900

1,000

400

500

600

700

800

900

1,000

Pre-Sales Revenue Backlog

MB MB MB

634

723653

879

795724 727

660

843787

+14% -10% +35% -10% +0% -9% +28% -7%

21

489564 559

851734

0

100

200

300

400

2012 2013 2014 2015 2016

Up Country Nonthaburi

571 552 541

812756

0

100

200

300

400

2012 2013 2014 2015 2016

Up Country Nonthaburi

43 55 73111 8943 28

20 31

0

100

200

300

400

2012 2013 2014 2015 2016

Up Country Nonthaburi

86 82 75 111119

First Car

Policy

Dissolved

The

Parliament

Coup

D’etat

First Car

Policy

Dissolved

The

Parliament

Coup

D’etat

First Car

Policy

Dissolved

The

Parliament

Coup

D’etat

115 116

237

120

161

114

179153 137

173162 137

9%

20%

14%

27%

7%

14% 15%

12%

15% 14%

10%

16%

0%

5%

10%

15%

20%

25%

30%

0

50

100

150

200

250

300

Persons

2016

AVG.

Hit Rate

14%

Avg. Visitors

150 Persons

Target Hit Rate 20 % & Visitors 200 Persons

Visitors Target : 200 Persons/Mth

22

108

167197

142

247

190147 148

194 215 169

113

18%

11%

13%

16%

20% 21%

14%

9%

12%11%

18%17%

0%

5%

10%

15%

20%

25%

30%

0

50

100

150

200

250

300

Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15

Visitors Hit Rate%

Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16

Visitors Hit Rate%Persons

2015

AVG.

Hit Rate

15%

Avg. Visitors

170 Persons

Visitors Target : 200 Persons/Mth

24.5%

32.0%30.9%

33.2% 32.5%

15%

20%

25%

30%

35%

2012 2013 2014 2015 2016

% Profitability

168 162 166

210 218

23.2%22.3%

25.1%24.9%

27.7%

15%

20%

25%

30%

35%

0

50

100

150

200

250

300

2012 2013 2014 2015 2016

23

GP %

Net Profit %

*SG&A Normalize One-Time

*

-2.1%

5.0%

1.1%2.1% 2.2%

-5%

0%

5%

10%

15%

2012 2013 2014 2015 2016

SG&A

15%0

2012 2013 2014 2015 2016

15.1%14.3%

16.2%

14.5%

16.6%

15%

20%

90

120

150

8.9%

10.4%11.1%

15%

20%

90

120

150

Selling & General Administration Expenses

MB MB% %

• Corporate Branding

• Billboards

• Promotional Items

Headcounts in

Sales, Marketing &

Construction

109 104 107122

131

0%

5%

10%

0

30

60

2012 2013 2014 2015 2016G&A

29 29 33

56 58

30 30 25

32 298.1% 8.0%8.9%

0%

5%

10%

0

30

60

2012 2013 2014 2015 2016

AMP ค่าโอนกรรมสทิธ ิV % to Sales

24

*

*G&A Normalize One- Time

Selling Expenses

Efficiency

9.5%

1.8%

4.1% 4.1%

0%

5%

10%

15%

20%

2012 2013 2014 2015 2016

5.6%

3.1%4.5%

3.0%

0%

5%

10%

15%

20%

2012 2013 2014 2015 2016

0.5 0.6 0.5

0.7

0.6

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

2012 2013 2014 2015 201625

ROE %

Asset Turn over (Times)

Times

ROA %-4.7%-5%

2012 2013 2014 2015 2016-1.3%

-5%

2012 2013 2014 2015 2016

Efficiency

Times

8.7 9.15

6

7

8

9

10

60

80

100

Days

Target 9 Times

Target 40 Days

26

5.5

8.7 8.4 9.1

6.8

0

1

2

3

4

2012 2013 2014 2015 2016

66

42 43 4053

0

20

40

2012 2013 2014 2015 2016

Business Cycle (Times)

[Booking to Transfer]

Business Cycle (Days)

[Booking to Transfer]

Liquidity & Leverage

2.7

2.1 2.0

1.8

2.3

1.5

2.0

2.5

3.0

1.41.3

1.51.5

1.41.5

2.0

2.5

3.0Times Times

27

0.0

0.5

1.0

2012 2013 2014 2015 2016

1.3

0.0

0.5

1.0

2012 2013 2014 2015 2016

D/E Ratio (Times) Current (Times)

Balance Sheet

990 847 854 773

1,008

800

1,000

1,200

1,400

1,6001,356 1,255 1,282 1,238 1,469

• Inventory increased due

to New projects launched

in 2016 & to be launched

in 2017

28

366 408 428 465 461

990 847 854 773

0

200

400

600

800

2012 2013 2014 2015 2016

Liabilities Equity

• About Thanasiri

• Our Projects

• Our Performance

• 2017 Outlook

Agenda

29

• 2017 Outlook

• Q&A

2017 Outlook

Key

OutlookTotal Nonthaburi UdonThani

2017 Pre-Sales(MB)

1,000 – 1,100

85 % : 15 %

30

85 % : 15 %2017 Revenue

(MB)900 – 1,000

%Gross Profit 31.0% - 32.0%

Q1 Q2 Q3 Q4

Marketing Online

31

32

2017 Key Drivers “Turnaround”

• On-Shelf Availability : บา้นสรา้งเสร็จพรอ้มโอนมีความพรอ้มเพืFอรองรับการเตบิโต

• Facilities : ระบบสาธารณูปโภคมคีวามสมบรูณ์ทัง̀ระบบ รวมถงึ IKEA ทีFจะเปิดในชว่งปลายปีนี ̀

• Marketing Online via Website & Facebook• Direct Marketing (Roadshow)

33

• Direct Marketing (Roadshow)• Cost Reduction : กําหนดมาตรการลดคา่ใชจ้า่ยในการดําเนนิงานตา่งๆ ทัง̀ในสว่นของสํานักงานใหญแ่ละทีFโครงการ

Q&A

The views expressed here contain some information derived from publicly available sources

that have not been independently verified. No representation or warranty is made as to the accuracy,

completeness or reliability of the information. Any forward looking information in this presentation has

been prepared on the basis of a number of assumptions which may prove to be incorrect. This

presentation should not be relied upon as a recommendation or forecast by Thanasiri PCL. Nothing in

this release should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares

in any jurisdiction.

34

Contact Informationวภิานนัท ์แยม้คุม้ ผูจ้ดัการฝ่ายวางแผนกลยทุธแ์ละนกัลงทนุสมัพนัธ์Thanasiri Group PLC.650,652 Baromratchonnanee Rd., Bangbamru, Bangplad,Bangkok 10700 ThailandTel : 0-2886-4888#106Fax : 0-2886-4878Mobile : 081-826-6413Email: : wipanun@thanasiri.comWebsite : www.thanasiri.com

Thank You

35

Thank You