potential of the country’s human capital. This is particularly true amid demographic change, by which Thailand will become an aged society by 2021 with its low birth rate. Moreover, technology plays an

monitors interest rate risk in banking book activities by assessing interest rate risk gap and net interest income sensitivity over the next 12 months, based on an assumption of a 1.00-percent change in

(used in) financing activities 2.27 1.47 (0.77) 0.03 Effects of exchange rate change on the balance of cash and cash equivalents - - (0.00) (0.00) Net Decrease in Cash and Cash Equivalent 0.45 (0.22

Q1/20 Q2/20 Change +/(-) 6M/19 6M/20 Change +/(-) YoY QoQ YoY Availability Rate (%) Sriracha Power Plant 100% 99% 100% 0% 1% 99% 100% 1% GIPP 100% 100% 100% 0% 0% 100% 100% 0% GHECO-One 100% 96% 99% (1

/18 9M/19 Change +/(-) QoQ YoY Availability Rate Availability Rate (%) – Sriracha Power Plant 100% 100% 100% 0% 0% 100% 100% 0% Availability Rate (%) – GIPP n/a 100% 100% 0% n/a n/a 100% n/a

1H/19 Change +/(-) QoQ YoY Availability Rate Availability Rate (%) – Sriracha Power Plant 100% 99% 100% 1% 0% 99% 99% 0% Availability Rate (%) – GIPP n/a 100% 100% 0% n/a n/a 100% n/a Availability Rate

9PAGE 9 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1 2019 Key revenue drivers Q1/18 Q4/18 Q1/19 Change +/(-) QoQ YoY Availability Rate Availability Rate (%) – Sriracha Power Plant 99% 40% 99% 59% 0

/2018YoYQoQ Key revenue drivers Q4/18 Q3/19 Q4/19 Change +/(-) 2018 2019 Change +/(-) QoQ YoY Availability Rate Availability Rate (%) – Sriracha Power Plant 40% 100% 90% (10%) 50% 85% 97% 12% Availability Rate

revenue drivers Q1/19 Q4/19 Q1/20 Change +/(-) QoQ YoY Availability Rate Availability Rate (%) – Sriracha Power Plant 99% 90% 95% 5% (4%) Availability Rate (%) – GIPP 100% 100% 100% 0% 0% Availability Rate

/19 9M/20 Change +/(-) YoY QoQ YoY Availability Rate (%) Sriracha Power Plant 100% 100% 100% 0% 0% 100% 100% (0%) GIPP 100% 100% 100% 0% 0% 100% 100% 0% GHECO-One 98% 99% 88% (10%) (11%) 84% 94% 11