Financial Statement Analysis Ticker: TNB MK Equity Periodicity: Annuals Currency: MYR Note: Years shown on the report are Fiscal Years Company: Tenaga Nasional Bhd Filing: Most Recent Standardized Restated:2013 A Original:2014 A Original:2015 A Original:2016 A Restated:2017 A Original:2018 A Original:2019 A Original:2020 A Restated:2021 A Original:2022 A For the period ending 2013-8-31 2014-8-31 2015-8-31 2016-8-31 2017-8-31 2018-12-31 2019-12-31 2020-12-31 2021-12-31 2022-12-31 Total Assets + Cash, Cash Equivalents & STI 9,552.30 11,758.60 8,909.50 17,153.60 17,278.10 18,323.20 14,251.60 13,415.40 9,158.40 13,034.40 + Cash & Cash Equivalents 9,542.60 8,112.50 2,471.30 3,971.20 5,056.20 8,670.80 6,291.70 6,441.50 6,706.10 4,893.40 + ST Investments 9.70 3,646.10 6,438.20 13,182.40 12,221.90 9,652.40 7,959.90 6,973.90 2,452.30 8,141.00 + Accounts & Notes Receiv 5,795.60 5,706.20 6,170.10 6,778.80 7,064.90 3,638.60 3,415.50 3,311.20 3,965.00 3,968.90 + Accounts Receivable, Net 5,795.60 5,706.20 6,169.50 6,778.10 7,064.90 3,638.60 3,415.50 3,311.20 3,963.70 3,967.70 + Notes Receivable, Net 0.00 0.00 0.60 0.70 0.00 0.00 0.00 0.00 1.30 1.20 + Unbilled Revenues 3,361.80 3,518.70 3,323.10 3,429.20 3,991.40 + Inventories 616.90 887.30 843.80 792.30 828.70 1,295.90 1,925.30 1,583.80 1,977.10 3,290.80 + Raw Materials 613.30 875.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 + Work In Process 3.60 8.60 9.80 16.70 11.40 18.40 23.70 14.00 12.10 10.30 + Finished Goods 0.00 3.50 2.50 3.20 6.20 14.80 16.00 10.00 9.80 5.60 + Other Inventory 0.00 0.00 831.50 772.40 811.10 1,262.70 1,885.60 1,559.80 1,955.20 3,274.90 + Other ST Assets 1,547.60 1,655.80 2,871.60 2,030.60 2,349.00 4,130.10 2,642.30 6,169.00 8,492.90 20,770.70 + Prepaid Expenses 236.50 238.90 63.50 61.10 62.90 109.40 89.50 79.50 87.10 214.30 + Derivative & Hedging Assets 16.80 1.20 1.20 0.00 0.00 0.20 + Assets Held-for- Sale 9.80 0.00 0.00 31.60 0.00 617.00 + Taxes Receivable 21.60 35.50 45.50 125.00 83.80 422.60 1,129.90 1,765.50 1,472.70 1,207.50 + Misc ST Assets 1,279.70 1,381.40 2,762.60 1,796.10 2,201.10 3,596.90 1,422.90 3,707.00 6,933.10 19,348.70 Total Current Assets 17,512.40 20,007.90 18,795.00 26,755.30 27,520.70 30,749.60 25,753.40 27,802.50 27,022.60 45,056.20 + Property, Plant & Equip, Net 79,627.90 87,808.90 95,411.90 101,685.40 108,437.40 117,389.60 148,230.00 147,502.40 148,816.80 153,982.20 + Property, Plant & Equip 130,639.70 143,230.20 155,874.90 168,016.80 178,017.20 193,909.50 226,681.20 232,323.40 240,203.20 252,199.60 - Accumulated Depreciation 51,011.80 55,421.30 60,463.00 66,331.40 69,579.80 76,519.90 78,451.20 84,821.00 91,386.40 98,217.40 + LT Investments & Receivables 532.10 485.40 291.00 687.90 911.10 1,584.60 1,083.70 644.20 558.70 637.60 + LT Investments 201.90 201.40 24.30 54.00 275.70 326.70 331.80 265.80 312.90 324.10 + LT Marketable Securities 71.90 140.50 70.00 55.60 + LT Receivables 330.20 284.00 266.70 633.90 563.50 1,257.90 751.90 237.90 175.80 257.90 + Other LT Assets 2,326.90 2,363.20 2,637.10 3,773.60 5,143.20 3,971.20 3,780.10 5,484.20 6,202.50 6,246.30 + Total Intangible Assets 0.00 0.00 124.70 211.00 211.00 240.70 241.30 434.00 438.40 593.60 + Goodwill 0.00 0.00 124.70 211.00 211.00 240.70 241.30 434.00 438.40 421.40 + Other Intangible Assets 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 172.20 + Deferred Tax Assets 4.90 15.20 23.10 31.20 77.00 87.70 124.30 131.00 372.60 377.50 + Derivative & Hedging Assets 61.90 42.70 0.00 0.20 0.00 0.00 1.20 72.30 + Investments in Affiliates 566.90 612.10 757.60 1,838.20 3,090.10 1,709.70 1,441.40 1,339.20 1,867.10 1,679.20 + Misc LT Assets 1,693.20 1,693.20 1,731.70 1,693.20 1,765.10 1,932.90 1,973.10 3,580.00 3,523.20 3,523.70 This report may not be modified or altered in any way. 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Bloomberg ® 06/20/2023 09:13:09 1 Financial Statement Analysis Ticker: TNB MK Equity Periodicity: Annuals Currency: MYR Note: Years shown on the report are Fiscal Years Company: Tenaga Nasional Bhd Filing: Most Recent Restated:2013 A Original:2014 A Original:2015 A Original:2016 A Restated:2017 A Original:2018 A Original:2019 A Original:2020 A Restated:2021 A Original:2022 A For the period ending 2013-8-31 2014-8-31 2015-8-31 2016-8-31 2017-8-31 2018-12-31 2019-12-31 2020-12-31 2021-12-31 2022-12-31 Total Noncurrent Assets 82,486.90 90,657.50 98,340.00 106,146.90 114,491.70 122,945.40 153,093.80 153,630.80 155,578.00 160,866.10 Total Assets 99,999.30 110,665.40 117,135.00 132,902.20 142,012.40 153,695.00 178,847.20 181,433.30 182,600.60 205,922.30 Liabilities & Shareholders' Equity + Payables & Accruals 7,383.10 8,597.90 11,195.80 12,222.00 11,080.10 10,670.70 10,048.70 11,362.70 9,408.80 12,290.10 + Accounts Payable 4,981.40 5,746.80 7,965.40 8,889.20 7,617.10 6,455.40 5,763.20 7,188.00 5,025.20 7,753.70 + Accrued Taxes 100.90 56.10 72.50 50.60 85.20 96.20 70.20 44.80 43.90 187.90 + Other Payables & Accruals 2,300.80 2,795.00 3,157.90 3,282.20 3,377.80 4,119.10 4,215.30 4,129.90 4,339.70 4,348.50 + ST Debt 1,753.20 3,132.00 2,664.40 2,150.40 2,137.70 4,285.60 6,882.60 9,666.90 10,091.40 16,402.70 + ST Borrowings 1,148.80 2,480.40 1,985.80 1,488.80 1,808.10 3,553.10 3,124.90 5,519.50 6,128.50 12,434.40 + ST Lease Liabilities 604.40 651.60 678.60 661.60 329.60 357.80 3,403.30 3,257.80 3,098.90 3,140.50 + ST Finance Leases 604.40 651.60 678.60 661.60 329.60 357.80 + Current Portion of LT Debt 374.70 354.40 889.60 864.00 827.80 + Other ST Liabilities 1,678.00 1,734.00 1,732.00 1,711.60 2,108.70 6,809.80 6,870.60 7,771.70 7,716.70 8,904.50 + Deferred Revenue 1,062.10 1,158.50 1,200.60 1,139.20 1,460.90 347.40 354.40 420.50 492.30 573.40 + Derivatives & Hedging 0.30 0.00 0.00 12.90 10.90 44.00 8.60 1.30 0.40 2.90 + Misc ST Liabilities 615.60 575.50 531.40 559.50 636.90 6,418.40 6,507.60 7,349.90 7,224.00 8,328.20 Total Current Liabilities 10,814.30 13,463.90 15,592.20 16,084.00 15,326.50 21,766.10 23,801.90 28,801.30 27,216.90 37,597.30 + LT Debt 26,770.20 29,113.00 28,741.70 38,105.10 42,027.30 48,420.90 69,835.20 68,514.50 70,828.70 80,757.90 + LT Borrowings 21,739.60 22,975.60 22,713.10 32,817.90 37,038.40 43,904.60 41,932.40 43,043.50 44,685.70 50,620.00 + LT Lease Liabilities 5,030.60 6,137.40 6,028.60 5,287.20 4,988.90 4,516.30 27,902.80 25,471.00 26,143.00 30,137.90 + LT Finance Leases 5,030.60 6,137.40 6,028.60 5,287.20 4,988.90 4,516.30 + Other LT Liabilities 24,444.10 24,629.30 25,334.20 26,113.40 27,073.80 24,456.10 25,928.00 26,667.60 26,162.60 26,600.90 + Accrued Liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 + Pension Liabilities 10,775.40 10,263.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 + Pensions 0.00 0.00 + Other Post-Ret Benefits 0.00 0.00 + Deferred Compensation 10,230.00 11,048.80 10,887.30 11,131.20 12,666.60 13,068.90 11,666.30 10,965.70 + Deferred Revenue 2,062.80 1,642.50 1,425.10 1,165.60 993.90 2,902.90 3,430.00 3,753.70 4,355.70 4,783.10 + Deferred Tax Liabilities 6,427.90 6,716.10 7,054.10 6,961.90 7,728.30 8,009.30 7,783.00 7,805.80 8,178.20 8,820.30 + Derivatives & Hedging 12.80 4.90 0.00 11.50 37.20 175.70 38.70 2.30 + Misc LT Liabilities 5,165.20 6,002.60 6,625.00 6,937.10 7,464.30 2,401.20 2,011.20 1,863.50 1,923.70 2,029.50 Total Noncurrent Liabilities 51,214.30 53,742.30 54,075.90 64,218.50 69,101.10 72,877.00 95,763.20 95,182.10 96,991.30 107,358.80 Total Liabilities 62,028.60 67,206.20 69,668.10 80,302.50 84,427.60 94,643.10 119,565.10 123,983.40 124,208.20 144,956.10 + Preferred Equity and Hybrid Capital 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 + Share Capital & APIC 11,025.80 11,025.80 11,025.80 11,025.80 11,124.90 11,446.10 11,446.10 11,675.20 11,927.60 12,204.30 + Common Stock 5,643.60 5,643.60 5,643.60 5,643.60 This report may not be modified or altered in any way. The BLOOMBERG PROFESSIONAL service and BLOOMBERG Data are owned and distributed locally by Bloomberg Finance LP (“BFLP”) and its subsidiaries in all jurisdictions other than Argentina, Bermuda, China, India, Japan and Korea (the (“BFLP Countries”). BFLP is a wholly-owned subsidiary of Bloomberg LP (“BLP”). BLP provides BFLP with all the global marketing and operational support and service for the Services and distributes the Services either directly or through a non-BFLP subsidiary in the BLP Countries. BFLP, BLP and their affiliates do not provide investment advice, and nothing herein shall constitute an offer of financial instruments by BFLP, BLP or their affiliates. Bloomberg ® 06/20/2023 09:13:09 2 Financial Statement Analysis Ticker: TNB MK Equity Periodicity: Annuals Currency: MYR Note: Years shown on the report are Fiscal Years Company: Tenaga Nasional Bhd Filing: Most Recent Restated:2013 A Original:2014 A Original:2015 A Original:2016 A Restated:2017 A Original:2018 A Original:2019 A Original:2020 A Restated:2021 A Original:2022 A For the period ending 2013-8-31 2014-8-31 2015-8-31 2016-8-31 2017-8-31 2018-12-31 2019-12-31 2020-12-31 2021-12-31 2022-12-31 + Additional Paid in Capital 5,382.20 5,382.20 5,382.20 5,382.20 - Treasury Stock 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 + Retained Earnings 32,176.40 37,232.50 41,599.10 47,330.00 52,115.30 52,784.40 54,299.50 52,400.70 51,494.10 52,776.10 + Other Equity -5,509.10 -5,036.30 -5,416.90 -5,967.20 -6,128.80 -6,392.70 -7,763.80 -8,242.70 -6,813.30 -6,463.30 Equity Before Minority Interest 37,693.10 43,222.00 47,208.00 52,388.60 57,111.40 57,837.80 57,981.80 55,833.20 56,608.40 58,517.10 + Minority/Non Controlling Interest 277.60 237.20 258.90 211.10 473.40 1,214.10 1,300.30 1,616.70 1,784.00 2,449.10 Total Equity 37,970.70 43,459.20 47,466.90 52,599.70 57,584.80 59,051.90 59,282.10 57,449.90 58,392.40 60,966.20 Total Liabilities & Equity 99,999.30 110,665.40 117,135.00 132,902.20 142,012.40 153,695.00 178,847.20 181,433.30 182,600.60 205,922.30 Reference Items Accounting Standard MY GAAP IAS/IFRS IAS/IFRS IAS/IFRS IAS/IFRS IAS/IFRS IAS/IFRS IAS/IFRS IAS/IFRS IAS/IFRS Shares Outstanding 5,643.61 5,643.61 5,643.61 5,643.61 5,659.00 5,674.99 5,686.89 5,704.65 5,726.09 5,753.08 Number of Treasury Shares 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Pension Obligations 10,775.40 10,263.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Future Minimum Operating Lease Obligations 48,806.70 44,558.80 39,575.10 48,356.10 44,127.00 40,672.30 Capital Leases - Total 5,635.00 6,789.00 6,707.20 5,948.80 5,318.50 4,874.10 Number Of Shareholders 31,698.00 29,245.00 29,370.00 28,110.00 39,848.00 42,318.00 39,320.00 87,864.00 125,054.00 115,558.00 Options Granted During Period 0.00 0.00 0.00 0.00 0.00 0.00 Options Outstanding at Period End 0.00 0.00 0.00 0.00 0.00 0.00 Net Debt 18,971.10 20,486.40 22,496.60 23,101.90 26,815.00 34,383.30 62,466.20 64,625.50 71,691.70 84,070.60 Net Debt to Equity 49.96 47.14 47.39 43.92 46.57 58.23 105.37 112.49 122.78 137.90 Tangible Common Equity Ratio 37.69 39.06 40.24 39.32 40.13 37.53 32.33 30.61 30.84 28.21 Current Ratio 1.62 1.49 1.21 1.66 1.80 1.41 1.08 0.97 0.99 1.20 Cash Conversion Cycle -180.64 -23.21 -16.00 -26.65 -12.83 6.12 Number of Employees 35,975.00 35,684.00 35,574.00 35,574.00 36,307.00 35,576.00 34,938.00 34,699.00 This report may not be modified or altered in any way. The BLOOMBERG PROFESSIONAL service and BLOOMBERG Data are owned and distributed locally by Bloomberg Finance LP (“BFLP”) and its subsidiaries in all jurisdictions other than Argentina, Bermuda, China, India, Japan and Korea (the (“BFLP Countries”). BFLP is a wholly-owned subsidiary of Bloomberg LP (“BLP”). BLP provides BFLP with all the global marketing and operational support and service for the Services and distributes the Services either directly or through a non-BFLP subsidiary in the BLP Countries. BFLP, BLP and their affiliates do not provide investment advice, and nothing herein shall constitute an offer of financial instruments by BFLP, BLP or their affiliates. Bloomberg ® 06/20/2023 09:13:09 3