: Management’s Discussion and Analysis for 3rd quarter ended as of Sept 30, 2018 To: The President The Stock Exchange of Thailand AI Energy Public Company Limited (“the Company”) would like to submit the company

bond allowing the bondholder to convert bond to the Company’s stock at the adjusted conversion price at THB 4.40 per share. Page 2 of 11 Singha Estate Public Company Limited Management Discussion and

our firm adherence to sustainable development practices, KBank, in the second quarter of 2018, was selected for the Thailand Sustainability Investment (THSI) List for 2018 by the Stock Exchange of

Chomkamol Poompanmoung Acquisition Stock 0.0194 7.758 7.7774 24/03/2022 0.0194 7.758 7.7774   246017542203-1 7UP Mr. Ratchata Poompanmoung Acquisition Stock 4.7987 0.9226 5.7213 06/07/2021 4.7987 0.9226

. Nares Ngam-apichon Disposition Stock 20.0019 0.3787 19.6231 17/06/2020 20.0019 0.3787 19.6231   246004322006-1 MACO PLAN B MEDIA PUBLIC COMPANY LIMITED Disposition Stock 19.9557 9.9778 9.9778 14/05/2020

. Chutchaya Tritrakulchai Disposition Stock 33.3314 7.3438 25.9876 25/02/2020 33.3314 7.3438 25.9876   246002562002-1 OCEAN Mr. Teera Chutivarapon Acquisition Stock 9.1176 7.3438 16.4615 25/02/2020 9.1176

Before Acquisition/ Disposition 2 % Group of Held Acquisition/ Disposition 2 % Group of Held After Acquisition/ Disposition 2 Remark 3 File No OCEAN Mr. Jirat Tritrakulchai Disposition Stock 6.3018 1.7105

Held Before Acquisition/ Disposition 2 % Group of Held Acquisition/ Disposition 2 % Group of Held After Acquisition/ Disposition 2 Remark 3 File No XPG ELEVATED RETURNS LLC Disposition Stock 7.9717

Held Before Acquisition/ Disposition 2 % Group of Held Acquisition/ Disposition 2 % Group of Held After Acquisition/ Disposition 2 Remark 3 File No WAVE THANAVARIN COMPANY LIMITED Acquisition Stock

Held Before Acquisition/ Disposition 2 % Group of Held Acquisition/ Disposition 2 % Group of Held After Acquisition/ Disposition 2 Remark 3 File No JTS Mrs. Lalana Tharasuk Acquisition Stock 4.9968