generate profit from the core business and to expand to other businesses which have potential to make better profit than the biomass power plant business, in which UWC’s expertise is probably limited and

increase was primarily attributable to an increase in tax on profits arising from an increase in taxable profit B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis NORMALIZED NET PROFIT

. For 1H2018, Gross Profit Margins, excluding Other Income from Utilities Business was 34.4% improved from 30.3% in 1H2017, maily from increased of sales volume and lower maintenance cost. Power Business

Company, Bangchak Green Net Co.,Ltd., Bangchak Retail Co., Ltd., and share of profit from associated companies 3/ EBITDA from Power Plant Business of BCPG Plc., its subsidiaries, and share of profit from

million. See more details in 3.1 and 3.2 as follows; Page 7 3.1 The Analysis of the Operating Results in Power Generation business The operating profit (loss) for Q2/2020 of power generation business

operating results. The operating profit of EGCO Group for Q1/2020 was Baht 2,357 million, decreasing by Baht 558 million compared to Q1/2019, which came from a decrease in power generation business of Baht

for the 3 rd quarter of 2019 showed the profit (attributable to owners of the Company) of THB 1,364.84 million, decreasing by THB 315.69 million. The main reason was Ratchaburi Power Plants had

Generation business Profit (loss) before the effects of foreign exchange, deferred income tax, impairment and lease income for the year 2018 of power generation business increased by Baht 14,072 million

52.1 52.7 60.9 8.2 52.4 54.3 1.9 Solar Engergy Power Plant 55.9 58.0 48.9 51.0 2.1 50.0 53.4 3.4 Gross Profit by Segment 33.4 33.6 33.8 33.2 (0.6) 35.9 33.5 (2.4) Gross Profit Margin Gross profit

companies 2/ EBITDA from Marketing Business of the Company, Bangchak Green Net Co.,Ltd., Bangchak Retail Co., Ltd., and share of profit from associated companies 3/ EBITDA from Power Plant Business of BCPG