2019 First quarter of 2018 Increased (Decreased) Amount % 1.1 Revenues from construction Baht 1,851.66 million Baht 2,250.87 million Baht 399.21 million (17.74) 1.2 Cost of construction 92.87 % 93.35

% 1.1 Revenues from construction Baht 6,318.23 million Baht 8,676.42 million Baht (2,358.19) million (27.18) 1.2 Cost of construction 98.15 % 93.61 % - 4.85 1.3 Sales and service income - Property

corporation public company limited ("the Company") and its subsidiaries intend to engage in horizontal and vertical real estate development business as industrial and commercial real estate for sale and lease

emissions. Thailand Taxonomy Phase 1 was publicly released on 30th June 2023.The development of the Thailand Taxonomy Phase 2 involves expanding the scope to cover additional economic sectors that emit large

greenhouse gas emissions. Thailand Taxonomy Phase 1 was publicly released on 30th June 2023. The development of the Thailand Taxonomy Phase 2 involves expanding the scope to cover additional economic

quarter of 2019 Second quarter of 2018 Increased (Decreased) Amount % 1.1 Revenues from construction Baht 1,353.08 million Baht 2,199.81 million Baht 846.73 million (38.49) 1.2 Cost of construction 102.44

from construction service 0.00 0.00% 32.07 8.11% 32.07 100.00% Cost of sales (266.30) (59.17%) (195.11) (49.34%) (71.19) (26.73%) Cost of construction service 0.00 0.00% (28.76) (7.27%) 28.76 100.00

construction service 0.00 0.00% 45.13 5.84% 45.13 100.00% Cost of sales (570.26) -57.04% (398.64) -51.62% (171.62) -30.10% Cost of construction service 0.00 0.00% (42.76) -5.54% (42.77) 100.00% Gross Profit

on January 28, 2019 with the Department of Business Development. Outline of 2018 Business operation The outline of the Company’s business operation in the year of 2018 is as follows; 1. Total incomes

SAAM Energy Development Public Company Limited - 1 - 21 February 2020 Subject: Management Discussion and Analysis for the year ended 31 December 2019 To: The President The Stock Exchange of Thailand