Banpu (BANPU) Oppurtunity day presentation summary

Strategic vision and transformation

• Aims to achieve over 50% EBITDA from non-coal businesses by 2030, focusing on gas, renewables, and next-gen mining.

• Targets >1.5x EBITDA growth by 2030 through portfolio optimization and decarbonization.

• Plans >20% reduction in Scope 1 and 2 GHG emissions by 2030, with net zero by 2050.

• Capital allocation prioritizes gas-power-CCUS (60%), renewables (20%), and next-gen mining (20%) from 2025-2030.

• Integrates AI and digitalization to enhance operational efficiency and cost savings.

Financial performance and highlights

• FY2024 sales revenue reached $5,148M (+1% YoY); EBITDA was $1,330M (-11% YoY).

• Maintained robust financial management with a 0.79x net debt/equity ratio and successful THB 2.5B bond issuance.

• Net profit before extra items was $60M (-66% YoY); non-recurring items impacted bottom line.

• Credit rating A+ (stable outlook); strong ESG ratings and DJSI member since 2014.

Gas, CCUS, and power business

• BKV IPO raised $270M; proceeds used for growth and debt repayment.

• Scaling CCUS with 183 kt injected since 4Q23; new Eagle Ford facility (90 ktpa) expected online 1H26.

• US gas production averaged 103 Bcf/d in 4Q24; Henry Hub prices forecasted to rebound to $3.0–$4.0/MMBtu in 2025.

• Temple I & II gas-fired plants in Texas delivered 7,360 GWh in 2024 (+36% YoY); refined hedging strategy ensures profitability.