, 2017 as follow; Consolidated Q4/2017 Q4/2016 ChangeFinancial Statements (Million Baht) (%) (Million Baht) (%) (%)Revenue from Sales 1,525.8 100.0 % 1,306.8 100.0 % 16.8 % Cost of Sales (1,043.1) (68.4

manufacture and distribution of High Density Polyethylene (HDPE) pipe and related certain fittings, Low Density Polyethylene (LDPE) pipe, Polypropylene (PP) pipe, Polybutylene (PB) pipe, Weholite Spiro pipe

3.49 1.13 32.38% 3 - Construction 1,405.03 1,079.05 325.98 30.21% 4 - Testing and Inspection 78.24 57.22 21.02 36.74% 5 Cost of sales and services (2,029.13) (1,734.66) 294.47 16.98% Gross Profit 248.42

Appointment of Product Distributor dated 17 February 2014 between the Company, as Manufacturer, and Mahachai Steel Center, as Distributor 1. Distribution fee at 1.5 percent of total sale of each month for the

revenues 18.26 100.00% 18.20 100.00% 0.07 0.37% Expenses Cost of sales 1.51 8.26% 1.50 8.25% 0.01 0.87% Cost of service and rental 3.25 17.82% 3.11 17.10% 0.15 4.70% Selling and service expenses 0.05 0.30

threat to distribution channels of the Company’s customers and they had to postpone their purchase orders of the Company’s products. Moreover, there were a number of incidents that adversely affected

9.54 100.00 (0.11) (1.14) SAAM Energy Development Public Company Limited - 3 - - Cost of sales Cost of sales related to generation and distribution of electricity under SAAM-SP1 mainly includes (1

274.61 3.60 248.48 14.49 532.97 549.51 -3.01 Cost of goods sold 152.47 154.23 -1.14 139.89 8.99 292.36 306.13 -4.50 Selling expenses and administrative expenses 124.74 115.04 8.43 111.29 12.08 236.03

by issuing debentures with fixed interest rate from 2.05 to 3.01 percent per annum to reduce financial cost and risk management from floating interest rate. As a result, the Company has saved interest

274.90 -0.10 549.51 529.72 3.74 Cost of goods sold 154.23 133.04 15.93 151.91 1.53 306.13 279.60 9.49 Selling expenses and administrative expenses 115.04 103.96 10.66 105.32 9.23 220.36 195.70 12.60