- Translation - Tender Offer for Securities (Form 247-4) Of Glow Energy Public Company Limited By Global Power Synergy Public Company Limited (The Tender Offeror) The Siam Commercial Bank Public

Thailand Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the year ended 31 December 2020 of the Company and the

ก! ก ! "#!$ %V กK488UTUKก!ก ก U 6PPY, (Derivatives) 4,48#!$68 8\4ก!!8 !ก! (Efficient portfolio management) *$/ !,ก!!8 ! 6 Kก U$ !,Q 6PPY, (Derivatives) 4,#ก 6Uก"!*ก#" $667 !6\ ก! 5

ramping up in - Translation - Page 6 of 9 utilization rate is believed to be an instructive factor to further cost savings of the non-carbonated canned energy drink throughout the rest of year as evidenced

Power P estment in th 34.09 million sociated com 9, decreased Unit : Millio 201 8 5 3 n currency in 26.12%. The ge rate loss of 8% compared ting business rest expenses entures in the % from issued Plants

Disposition. In respect of the rest of the 5 purchasers, given that each of them is not considered as a connected person; a connected transaction is, therefore, irrelevant as in accordance with the

by Baht 71.17 million or 140.02%. The increase from operate a potable water production system for Wellgrow Industrial Estate amount of Baht 22.45 million and the rest is an increase in the welding and

(Translation) No. 10000000/008/62 22 January 2019 Subject: Resolutions of the Board of Directors’ Meeting regarding the investment in the Energy Recovery Unit Project through the acquisition of the

3.5% driven by higher sales of the energy drinks especially for export markets and greater sales growth from distribution of 3rd party’s products. Note: 1/ Energy Drinks and Sport Drinks 2/ Drinking

used to repay debts and the rest will be used as working capital. The Company still have other assets such as office decorations, vehicles or computer software licenses. 4. Purpose of Transaction : The