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1Q2020

Disclaimers• The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or

the solicitation of an offer or invitation to purchase or subscribe for any securities of Chularat Hospital Public Company Limited (the“company”) in any jurisdiction nor should it or any part of it from the basis of , or be relied upon in any connection with, any contractor commitment whatsoever.

• This presentation may include information which is forward-looking in nature. Forward-looking information involve known andunknown risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in themarkets in which the company operates and general achievement of the company business forecasts, which will cause the actualresults, performance or achievements of the company to differ, perhaps materially, from the results, performance or achievementsexpressed or implied in this presentation.

• This presentation has been prepared by the company solely for the use at this presentation. The information in this presentation hasnot been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on,the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the company or anyof its agents or advisors or any of their respective affiliates, advisors or representatives, shall have any liability ( in negligence orotherwise) for any loss or damage howsoever arising from any use of this presentation or its contents or otherwise arising inconnection with this presentation. The information presented or contained in this presentation is current as of the date hereof and issubject to change without notice and its accuracy is not guaranteed. None of the Company, any of its affiliates or any of theirrespective agents, advisors or representatives, makes any undertaking to update any such information subsequent to the date hereof.

• This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upondirectly or indirectly for any investment decision-making or for any other purposes.

• This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or inpart, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws

2

ABOUT OUR COMPANY

749IPD BEDS

9HOSPITALS

4CLINICS

790DOCTORS

156OPD ROOMS

6EASTERN PROVINCES

* Established since 1986 (2529 BE) by Plussind Family

3

Plussind38%

Panyapol19%

Others43%

245

139

247

118

6134 33 28

CH3 CH9 CH11 Others

IPD Beds

OPD Rooms

• CH1• CH2• CH5

• CH7• CH8

• CH12• CH Cholvaej• CH Rayong

• CH304• RPC

Remark : CH1 and CH5 are small size hospitals (< 30 beds)4

Branch Type Year Established OPD Rooms IPD Beds

Chularat 1 Suvarnabhumi Hospital 1986 5 26

Chularat 2 Clinic 1990 2 -

Chularat 3 Inter Hospital 1991 49 193

Chularat 5 Hospital 1994 5 26



Chularat 9 Airport Hospital 1993 31 139



Chularat Cholvaej Hospital 2014 (M&A) 5 56

Chularat Rayong Hospital 2016 (M&A) 5 50


RPC Hospital 2018 14 59

156 749Total

5In Service

CH Cholvaej

CH7, CH8, CH9

ConvenienceHospital Co., Ltd.

Bang Pakong Vejchakij Co.,Ltd.

Thai Amdon Co.,Ltd.

Chularat ArkanayCo., Ltd.

Cholvaej Hospital Co., Ltd.

Imports medical devices for Chularat Group

100%100% 100%

96.38%

Sattayabutr Inter Co., Ltd.

100%

Ruampat Chachoengsao

Hospital Co., Ltd.

100%

Chularat PhraeksaHospital Co., Ltd.

100%

Cancer Suvarnabhumi

Co., Ltd.

ChularatHospital Plc.

70% 64.58%

CH11, CH12RPCCH304

CH Rayong

Ruampat Mae Sot International Co., Ltd.

CH Mae Sot

80%

6

Mr. Kriengsak PlussindChairman of the Board

Dr. Kumpol PlussindManaging Director

Mr. Apirum PanyapolDirector

Dr. Wichit SirithadthamrongDirector

Dr. Suchai LaoveerawatDirector

Mrs. Kobkul PanyapolDirector

Mr. Yanyong AmornphithankkulDirector

Miss Kannikar PlussindDirector

Mr. Manit JeeraditIndependent Director& Chairman of Audit Committee

Mr. Chayawat PhisetsitIndependent Director& Audit Committee

Mr. Somyos YanubonIndependent Director& Audit Commitee

Dr. Pinit KullavanijayaIndependent Director

“BODs of CHG assembling specialists in medical services with specialists in finance and business management”

7

Dr. Kumpol Plussind

Managing Director

Dr. Rungarun SanthadkolkarnHospital Director of CH3

Dr. Yudthana Sanguansakdikosol

Deputy Managing Director & Hospital Director of CH9

Dr. Suchai LaoweerawatHospital Director of CH1 & CH5

Mr. Suppachoke Rojcheewin

Ms. Wandee PisanuvanavechDeputy Managing Director (Finance & Accounting)

Finance & Accounting Manager

“The team has successfully managed several medical service businesses with over 25 years of proven track record.”

Dr. Chutima Pinjaroen

Deputy Managing Director & Hospital Director of CH11&RPC

8

9

• Chularat 1 • Chularat 2

• Chularat 3• Chularat 5

• Chularat 7• Chularat 8• Chularat 9

Bangkok and Samutprakarn

• Chularat 11 • Chularat 12• Ruampat Chachoengsao

Chachoengsao

• Chularat Rayong

Rayong

Prachin Buri

• Chularat Cholvaej

Chonburi

• Chularat 304

“ Our logistics network supports timely preventive and curative cares.“

16 May 2013

• JCI accredited for Chularat 3 International

• Set up “Prostate cancer clinic” at Chularat 3 International

2014

2015• Asia’s 200 Best Under A Billion for Chularat Hospital

Group (CHG)

• HA Certificate : Step 2, Step 3 for Chularat 9 Airport and Chularat 11 International Hospitals.

IPO listing in

Stock Exchange

of Thailand

11

• Opened “IVF Center” at CH11

• Opened “Eye Center Suvarnabhumi” at Chularat 1 Suvarnabhumi

• Re-Accreditation of HA Certificate Step 2, Step 3 for Chularat 9 Airport and Chularat 11 International Hospitals.

• Re-Accreditation of JCI for Chularat 3 International.

Best Medical Performance Award for Chularat 3 International

Set up “3A center: Aesthetic and Anti-Aging Center” at Chularat 9 Airport

2017

2018

2016

2019

• Thailand Top’s Corporate Brand 2019 Award for CHG

• Re-Accreditation of HA Certificate Step 2, Step 3 for Chularat 9 Airport and Chularat 11 International Hospitals.

• Muang Thai Life Assurance Award and Allianz Ayudhya Best Medical Performance Award for Chularat 9 Airport

12

Health Service Infrastructure

Government health services

Private medical sector

Non-profit health services

Health Service Systems

Cash & Insurance

Premium Mid-tier

Managed care schemes

Social Security (SS) Civil Servants Security

National HealthSecurity (NHS)

13.1 M* 49 M* 4.5 M*

Thailand population = 66.6 million*

* Health and Welfare Survey 2019, National Statistical Office

13

Revenue Structure= (1) + (2) + (3)

Fixed Payment(Capitation)

Statistics( Work-related payment )

Per SpecialMedical Services

IPD

Subject to Nationwide Budget453 Baht/head/year*

( 447 Baht/head/year)***

Only 26 Chronic Diseases

All IPD casesClassified by DRG

Adj RW** ≥ 2

1 2 3

OPD

Basic Payment (Fixed)1,640 Babt/head/year*

( 1,500 Bt/head/year)***

* Effective date: 1 Jan 2020** Relative Weight, a measure of the average cost of caring for individual patients.*** Old SSO payment rate/budget during July 2017 – Dec. 2019 Note : Number of insured person under article # 33 ( Obligation) and # 39 ( Voluntary ) as of Mar. 2020 is about 13.4 Millions.

12,000 Baht/RW (Avg.)*746 Baht/head/year*

( 640 Baht/head/year)***

9.3% 16.6% 1.3%

14

General medicine with various subspecialties

Expertise : Heart center, Hand microsurgery, Stroke center, Cancer center, NICU & IVF center, REHAB..

Medical

Services

Laser & Beauty Center Spa & Thai Traditional Medicine Chinese Traditional Medicine

(Acupuncture) Anti-aging services

Alternative

Services

15

STROKE CENTER

& BRAIN SURGERY

NICU &

IVF CENTER

CANCER CENTER

HAND & MICROSURGERY

REHABILITATION CENTER

ENDOSCOPY

CENTER

PROSTATE

BRACHYTHERAPY

HEART CENTER

CATHLAB & EP

EYE &

LASIK CENTER

MIS SPINE &

GENERAL SURGERY

16

22

Aortic Aneurysm

Minimal Invasive Valve Surgery

Electrophysiology Studies (EPS)

Coronary Artery Catheterization / Percutaneous Coronary Intervention (CAG-PCI)

Cardiac Rehabilitation

Coronary Artery Bypass Grafting (CABG)

Atrial Septal Defect (ASD)

18

22

Brain Tumor

Neurosurgery

Minimally Invasive Surgery

Headache

Head & Brain injuries caused by accidents, falls and physical assault.

Dementia

Parkinson’s Disease (PD)

Stroke

ArteriovenousMalformation (AVM)

Cavernous Sinus Thrombosis (CST)

19

CustomerDiversification

Cost Control

ServiceQuality

• HA level 3 and JCI approval • Diagnosis & treatment quality

accredited by both private and public sectors

• Increasing specialized clinics to accommodate A-Class

• In 2019 : A-Class 63% • Social Welfare 37%• Short-term Target : A-Class > 60%• Long-term Target : A-Class > 70%

• Effective Cost control with maintained quality

• Pooling E-procurement with strategic alliances

• Cost & facilities sharing among the group.

LogisticNetwork

CSR

PotentialLocation

• Industrial area with high growth community, and closed to international airport

• Nearby highways

• 9 Hospitals and 4 clinics expanding in strategic locations for patient transfer & personnel rotation among the group

• Raise brand-awareness through CSR to strengthen the relationship with the communities and become the communities’ hospital

1

3

2

4

6

5

21

01 A-Class

Cash Corporate contracts & Insurance Motor Vehicle Accident Protection Act (1992) Workers Compensation Fund

02 Social Welfare

Social Security System National Health Security System *

* CH3 is a Referral Center for Heart disease. ( NOT a primary service provider under NHSO scheme. )

22

Customer Grouping

A Class

Social Welfare

01

02

03

04

Self Pay • Individual Patients in nearby areas Cash or credit card, based on actual medical treatment

Corporate Contract• Companies / plants in nearby area• Insurance company having medical

service contract with Chularat Group

Credit, based on actual medical treatment, capped by each contract

MVAP Act 1992• Motor vehicle accident patients

Credit, based on actual medical treatment, capped 80,000 Baht / case

Workers Compensation Fund (WCF)• Companies / plants in nearby area• Insurance company having medical

service contract with Chularat Group

Credit, based on actual medical treatment, capped 300,000 Baht / case

01Self Pay Social Security system (SSS)

• Labors / employees of companies or plants in nearby area

02National Health Security System (NHSS)

• Non-SS members (CHG dose not participate in “30 Baht” for universal coverage project”

Credit, based on actual medical treatment, under treatment rate specified by NHSO

Fixed Payment Advance payment, based on number of registered SS members

National Statistics BaseCredit, based on comparable national statistics

Per Special Medical ServicesCredit, based on actual medical treatment, under treatment rate specified by SSO

23

2015 2016 2017 2018 2019

2.297 M

142,222 155,132

2.357 M2.601 M

185,676

3,1553,657 3,876

4,4075,166

14%Revenue

NetProfits

Patients

OPD (Head)

IPD (Beds-Day)

1.815 M

122,756

2.153 M

140,821

538 565 566634

705

11%

15%7%

17%

5% 0% 12%

NI GROWTH (%)

REVENUE GROWTH (%)

Unit: Million Baht

Net ProfitMargin

CAGR 6.99%

CAGR 13.12%

17.1% 15.4% 14.5% 14.3% 13.6%

24

2014MA-Cholvaej MA-Rayong

GF – CH304 - JulyGF – RPC – Nov

7%

30%32%

31%

13%

36%28%

23%

5%

37%32%

26%9%

36%30%

25%

5%

32%33%

30%

A-Class OPD

A-Class IPD

SSO

NHSO

A-Class IPD

A-Class OPD

SSO

NHSO

3,155MB

3,637MB

3,876 MB

(51 : 49)

2015

A-Class OPD

SSO

NHSO

(55 : 45)

2016

(58 : 42)

2017

A-Class IPD

A-Class IPDA-Class

IPDNHSO

SSO

4,407 MB

A-Class OPD

(63 : 37)

2018

(63 : 37)

2019

5,166 MB

A-Class IPD

A-Class OPD

NHSO

SSO

15%7%

14%

17%

25

NHSO6%

SSO32%

A-Class OPD32%

A-Class IPD30%

NHSO6%

SSO32%

A-Class OPD32%

A-Class IPD30%

371 400

392 412

389 427

76

78

-

200

400

600

800

1,000

1,200

1,400

1Q19 1Q20

NHSO

SSO

A-Class : OPD

A-Class : IPD

7.2%

1,317 MB

(62 : 38)

1Q20

1,228 MB

(62:38)

1Q19

Revenue Breakdown by Customer group

26

1.9%

9.7%

5.2%

7.9%

Total A-Class revenue (OPD & IPD)

up 7% due to

2 New hospitals (CH304, RPC)

OPD – Revenue (MB)

OPD – Visiting Number (VN)

Unit : Million Baht

Unit : Head

873

1,093 1,216

1,445 1,654

392 412

2015 2016 2017 2018 2019 1Q19 1Q20

5.2%

14.5%

621,969 743,666

804,167 899,551

980,304

238,379 251,343

2015 2016 2017 2018 2019 1Q19 1Q20

5.4%

9%

27

39,861

50,268 52,256

61,050

72,477

17,376 18,147

2015 2016 2017 2018 2019 1Q19 1Q20

744 902

1,016

1,310

1,581

371 400

2015 2016 2017 2018 2019 1Q19 1Q20

IPD – Revenue (MB)

IPD – Admission Number (AN)

4.4%

18.7%

7.9%

20.7%

Unit : Million Baht

Unit : Head

28

1,132 1,315

1,452 1,409 1,578

389 427

2015 2016 2017 2018 2019 1Q19 1Q20

• Number of insured persons = 13.4 million ( Mar 2020, SSO) by law article #33 [obligation] and #39 [voluntary]• Approx. Unemployment rate = 1% ( Mar. 2020, Labor Market Research Division )

SSO – Registered Member (Average )

9.7%

345,477 396,676 402,018 421,700 435,537 430,918 443,489

2015 2016 2017 2018 2019 1Q19 1Q20

3.3%

SSO – Revenue (MB) 11.9%

SSO revenue up 10% due to

Increased fixed payment rate per head

per year.

Increased number of registered

members.

Accrued medical treatment income of

chronic diseases.

Unit : Million Baht

Unit : Head

2.9%

29

CH342.6%

CH921.0%

CH1115.3%

Others21.1%

CH340.1%

CH9, 20.3%

CH1115.6%

others, 24.0%

CH3

CH9

CH11

others

Major contributors : Chularat3, Chularat9, Chularat11 = 76% ( 1Q19 = 79% )

3.7%

9.1%

1%

22.2%

Growth (YoY)7.2%

30

1,317 MB

1Q20

1,228 MB

1Q19

794 822 850 878 907 930 966 959 993

566 566 591 634 595 578672

756

607

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

129R126R132R 143R

144R 150R146R156R

149R

71.3% 68.9% 69.5% 72.2% 65.6% 62.1% 69.6%78.8%

61.1%

Unit : ‘000 Head

• Max. capacity = Rooms x 365 days x 70 (avg. patient/day/room)

Basis: Yearly

2,370 2,576

3,081 3,233 3,344

3,763

1,634 1,815

2,154 2,297 2,357 2,601

2014 2015 2016 2017 2018 2019

60.9%70.5% 69.9% 71.1% 70.5% 69.0%

121R127R

101R93R

131R

Basis: Quarterly

147R

Unit : ‘000 Head

31

Unit : Beds-Day

53,910 54,509

63,112 65,309 67,410 68,159 68,908 68,908 68,159

37,737 34,504 42,979 39,912

44,799 42,208

51,448 47,221 44,878

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20

599B

686B

70.0% 63.3% 68.1% 61.1% 66.5% 61.9%74.7% 68.5% 65.8%

599B

749B

• Max. capacity = Beds x 365 days

137,240 141,620

184,887

213,994 236,840

273,385

112,067 122,756

140,821 142,222 155,132

185,676

2014 2015 2016 2017 2018 2019

749B

505B

586B

81.7% 86.7%76.2%

66.5% 65.5% 67.9%

649B

Basis: Yearly

Basis: Quarterly

Unit : Beds-Day

388B376B

749B749B749B749B 749B

32

1,232

375

299

179

1,322

386320

186

Total revenue Gross profit margin EBITDA NI

1Q2019 1Q2020

Unit: Million Baht

33

30.5%

14.6%

24.3%

14.2%

29.3%

24.3%

Growth (YoY)

NI

Total Revenue

Gross profit

EBITDA

7.3%

2.9%

7.0%

3.9%

ROA

Asset & Capital Profile

ROE

13%

10%

9%

5%

63%

Short term loan

Long term loan

Account Payable

Other Debt

Equity

18.7% 18.5% 17.6% 18.5% 19.4%17.9%

0.0%

10.0%

20.0%

30.0%

2015 2016 2017 2018 2019 1Q20

1Q20 Equity = 4,069 MB, Debt = 2,354 MB1Q20 Asset = 6,423 MB

9%

17%

65%

10%Cash

Account Receivable &Accrued Revenue

PP&E

Others

1Q20 1Q20

DE0.58

ASSET STRUCTURE CAPITAL STRUCTURE

34

14.4%

19.7%17.2%

15.0% 14.8% 14.4%

0.0%

10.0%

20.0%

30.0%

2015 2016 2017 2018 2019 1Q20

• Samutprakarn

• Apprx 2,000 sq.m.

• High Energy Radiation (LINAC)

• IPD : 10 Beds

Suvarnabhumi Cancer and Radio Therapy Center (Cancer center)

• CAPEX 250 MB

• Start construction in 2020

• Expect to operate in 2021

35

• Mae Sot district, Tak province

• Approx. 6 Rai

• IPD : 100 Beds

• Target : A-Class patient

• CAPEX PLAN 600 MB

• Start construction in 2020

• Expect to operate in 2021

Chularat Mae Sot International Hospital

36

37

10,000 Heart Heroes for safe life #4th year

38

Bring good health to the community

39

Sharing to our community

JCI & HA Accreditation Corporate Governance

4 consecutive years since 2016

40

AdjRW Adjusted Relative Weight

CAGR Compound Annual Growth Rate

CH Chularat Hospital

DRG Diagnosis Related Group A statistical system of classifying any in-patient stay into groups for the purpose of payment.

HA Hospital Accreditation

IPD In-Patient Department

JCI Joint Commission International

MAVP Act 1992 Motor Accident Vehicle Protection Act 1992

NHSS National Health Security System

NHSO National Health Security Office

NICU Neonatal Intensive Care Unit

OPD Out-Patient Department

PP&E Plants, property & Equipment

Registered SS Member Registered Social Security Member

ROA Return on Assets

ROE Return on Equity

SSS Social Security System

SSO Social Security Office

WCF Working Compensation Fund41

[email protected]

095 370 9059

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