consumption) NNP = Normalized net profit O&M = Operations and maintenance P.A. = Per annum PEA = Provincial Electricity Authority (Thailand) PPA = Power purchase agreement PTT = PTT Public Company Limited SG&A

, legal fees and project study expense for the solar power plan project in Japan amounted to Baht 29.10 million. Financial Cost In 2018, the finance cost of the Company was Baht 26.69 million which reduced

SAAM Energy Development Public Company Limited - 1 - 12 May 2020 Subject: Management Discussion and Analysis for the period ended 31 March 2020 To: The President The Stock Exchange of Thailand SAAM

SAAM Energy Development Public Company Limited - 1 - 7 August 2020 Subject: Management Discussion and Analysis for the period ended 30 June 2020 To: The President The Stock Exchange of Thailand SAAM

per hour. 1.4 The Signing of Project Development for Xe Kong 4A and 4B Hydroelectric Power Project in the Lao People’s Democratic Republic On May 29, 2018, the Company and the Government of the Lao

PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result of Quarter 3 Year 2018 Ended September 30, 2018 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s

such as utility expenses, insurance, and power development fund. In Quarter 1 of 2019, costs of sales amounted to SAAM Energy Development Public Company Limited - 3 - THB 1.51 million, a THB 0.01 million

expansion, while the Company had reduced legal fees and unrealized loss on foreign exchange relating to equipment deposit. SAAM Energy Development Public Company Limited - 4 - Finance cost In Quarter 2 of

COMPANY LIMITED ATP 30 PUBLIC COMPANY LIMITED AUTOCORP HOLDING PUBLIC COMPANY LIMITED B-52 CAPITAL PUBLIC COMPANY LIMITED B.GRIMM POWER PUBLIC COMPANY LIMITED BAAN ROCK GARDEN PUBLIC COMPANY LIMITED

22.81 14.12 61.90 Finance cost 69.92 56.14 13.78 24.55 Printing Business 20.73 15.22 5.51 36.20 Solar Energy Business 49.19 40.92 8.27 20.21 2 Operating results of the Company Q1/2019 Q1/2018 Changes