Group Public Company Limited (the “Company” or “CBG”), are pleased to submit management discussion and analysis regarding consolidated financial performance and position of the Company and subsidiaries

material, projects in the previous year ended and the increased competition in the stainless pipe group. For the period of three months For the period of 1st half Consolidated financial statement ended 30th

greatly contracted by trade impacts and the higher For three months For nine months Consolidated financial statement ended 31st December ended 31st December Oct - Dec 2019 Oct - Dec 2018 Change % Change Apr

Cogeneration Company Limited, the Company’s wholly owned subsidiary, on October 1, 2019, resulted in the increase in revenue from sales and rendering of services. Management Discussion and Analysis For the 1st

1st half of year, the For the period of three months For the period of 1st half Consolidated financial statement ended 30th Sept ended 30th Sept July - Sept 2019 July - Sept 2018 Change % Change Apr

financial statements for the year ended December 31, 2019 as follows: Overview of Operating Performance Company and its subsidiaries had revenue classified by product category consist revenue from the

เนอร์จี จ ำกดั (มหำชน) AI Energy Public Company Limited ทะเบียนเลขที่ 0107556000311 Net Profit (Loss) The Company and subsidiaries (Consolidated) realized net profit of 48.41 million Baht in the 2nd

% Revenue from finance lease under power purchase agreement 102.9 102.8 103.2 0.4% 0.3% 308.4 306.9 (0.5%) Revenue from construction under a concession arrangement 21.2 398.1 215.0 (46.0%) 914.2% 89.7 744.4

12.3% Revenue from finance lease under power purchase agreement 103.2 101.6 104.9 3.2% 1.6% 306.9 305.7 (0.4%) Revenue from construction under a concession arrangement 215.0 - - - N.A.(

the mentioned item had no effect on the consolidated financial statement. Performance compared to Q2/ 2018, the exploration and production business recorded a decrease in revenue by THB 489 million