second quarter of 2017, Gulf TS1 and Gulf TS2 in the third quarter of 2017 and Gulf TS3 in the last quarter of this year, adding our Equity MW under operation, at the end of 2017, to 478.4 MW from 349.6 as

in 4Q18 following currency fluctuation in the quarter while foreign debts were all fully hedged. Finance cost was Bt1,217mn decreasing 5. 8% YoY and 5. 5% QoQ due to lower deferred interest from

net loss of Bt129mn in 1Q18. The gain was incurred from partially-hedge CAPEX payables following currency fluctuation. Finance cost was Bt1,290mn decreasing 2.6% YoY from lower interest-bearing debt and

completion of COD of 5 SPPs since the second quarter of 2017 to the first quarter of 2018, adding the Company’s Equity MW under operation to 510.5 MW • Finance costs decreased by 25.3%, mainly from the fact

that had a planned maintenance. Moreover, there have also been a completion of COD of 5 SPPs since the second quarter of 2017 to the first quarter of 2018, adding the Company’s Equity MW under operation

in 2Q18, following currency fluctuation in the quarter. Finance cost was Bt1,277mn decreasing 4.6% YoY and 1.0% QoQ due to lower deferred interest from spectrum licenses. Average cost of borrowing

maintenance. Moreover, there has also been a completion of COD of 5 SPPs since the second quarter of 2017 to the first quarter of 2018, adding the Company’s Equity MW under operation to 511 MW. Such impact from

fluctuation whereas foreign debts were all fully hedged. Finance cost was Bt5,148mn decreasing 2.9% YoY due to lower deferred interest from spectrum licenses. Average cost of borrowing was maintained at 3.1

EBITDA as well as increased share of profit from joint ventures and lower finance costs. • Total assets as of 31 December 2019 stood at THB 53,531mn, decreasing by 0.8% or THB 429mn from 31 December 2018

against USD. In general, AIS has policy to mitigate currency risk using forward contract to partially cover capex payable. Finance cost was Bt1,386mn, decreasing -11%YoY due to lower interest rate and