“Company” or “we” or “our” or “us”) would like to inform management discussion and analysis for its results of operations from the consolidated financial statements for the three months period ended March 31

2018 to Bt5,498 million as of March 31, 2019; short-term debt as well as the long term loan decreased due to increased cash flow from operations. As of March 31, 2019, Net Interest-bearing Debt to Equity

seasonal billings for year end. Cash surplus increased by 22.73mb or 20.4% due to our cash flow generated from operations and good working capital management. (b) Total Liabilities Total liability as of

Capital and receives support fee for the amount of totally not more than 1.2 million baht and ACSS provides the support on debt collection and litigation operations to ACS Capital and receives support fee

million x 3,540 days Enclosure Page 8 5,479 Days = Baht 951.06 million (2) Deducted by the benefits which the licensee had gained during the business operations as follows: (2.1) Subsidy for rental expenses

to the increase in revenue from sale of electricity following greater irradiation and an increase in other income not related to business operations. - Sales income SAAM Group’s income from sale of

term loan decreased due to increased cash flow from operations and provisions for employee benefits increased in accordance with an amendment of the Labor Protection Act. As of June 30, 2019, Net

capacity during Q2’18-Q2’19 from the commercial operations of 12 projects (2 SPP projects, 7 solar projects in Thailand, one hydro power project in Laos and 2 solar projects in Vietnam), 2) the acquisitions

. Cash surplus increased by 11.39mb or 10.2% due to our cash flow generated from operations and good working capital management. (b) Total Liabilities Total liability as of June 30, 2019 was 121.34mb

of 16.4% year-on-year, from Baht 260 million (after adjust exchange rate gain of Baht 45 million) to Baht 302 million. This improvement is largely attributable to increased earnings from operations