transferred the total payment of approximately 2.95 million baht into the accounts of Mr. Niwat, Mr. Sutin Promthong and North Environment Co., Ltd. (NE). NE is deemed under control of Mr. Bhusana and Mr. Saran

transferred the total payment of approximately 2.95 million baht into the accounts of Mr. Niwat Maenim, Mr. Sutin and North Environment Co., Ltd. (NE). NE is deemed under control of Mr. Bhusana and Mr. Saran

Earth Tech Environment Public Company Limited Page 1 17th August 2020 Subject Management Discussion and Analysis Financial Performance for the quarter ended 30th June 2020 To President The Stock

services consists of cost of sales from electricity generation and distribution and costs of services and rental from provision of services and development of renewable energy projects. For the year 2018

installed capacity and investment. The company realizes and places importance on the environment with the goal o f increasing the proportion of investment in renewable energy power plants to maintain balance

Certification of Green Meetings for the year 2019 from Business Council for Sustainable (TBCSD) and Environment Institute Foundation. Nevertheless, GPSC has passed through the assessment of Green Meeting’s

increase 1.58 million baht or 97.47% due to recognition of selling and service expenses of subsidiaries in renewable energy business and real estate development business.

Thailand PDI reassessed its business structure to move towards Green Businesses targeting renewable energy, materials recycling and eco management. To pursue its business strategy, 36 MW solar farms in

renewable energy. These businesses need continual fundraising for working capital and business expansion but yet to have opportunity to raise funds through the capital market. ?Slow growth of capital market

line with our target of ~15%. ESG & Carbon Neutrality Carbon neutrality will be IVL’s key differentiator going forward, and we have laid out a strategy to include recycling, renewable energy, ethical