project volume resulting in a price competition and the cost of raw materials used in production is higher than the year 2018. 4. Cost from the water management business for quarter 1/2019 representing

the cost of raw materials used in production is lower than the year 2018. 4. Cost from the water management business for quarter 2/2019 was 70.48% of income. Cost per income rate decreased compared to

(Translation) NEP-AC 001/2563 26 February 2020 Subject: Management Discussion and Analysis for year ended December 31, 2019 To : The President The Stock Exchange of Thailand Operating Result NEP

(Translation) NEP-AC 001/2562 28 February 2019 Subject : Management Discussion and Analysis for year ended 31 December 2018 To : The President The Stock Exchange of Thailand Operating Result NEP

materials used in production was lower than the year 2018. 5 . Cost from the water management business for quarter 3/ 2019 was 65.84% of income. The cost per income rate decreased compared to quarter 3/2018

. 1 Tambon Tarsit, Amohoe Pluag-daeng, Rayong (Translation) 1 KWM 007/2562 May 14th, 2019 Subject : Management Discussion and Analysis the three month-period ended March 31, 2019 To : President The

Tarsit, Amohoe Pluag-daeng, Rayong Branch 2 / 38 Moo. Tambon Tarsit, Amohoe Pluag-daeng, Rayong KWM 001/2561 September 28th, 2018 Subject : Management Discussion and Analysis for the quarter ended June 30

(Translation) NEP-AC 003/2562 14 August 2019 Subject: Management Discussion and Analysis for Q2 ended of 30 June 2019 To : The President The Stock Exchange of Thailand Operating Result NEP Realty and

Limited would like to submit the report of Management Discussion and Analysis for the 3-month period ended March 31, 2018 which has been unaudited but reviewed by the auditor this is caused by followings

move towards Green Businesses targeting renewable energy, material recycling and eco management. To pursue its business strategy, 36 MW solar farms in Thailand have been acquired in late 2016 and during