/a 1,320.0% B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis FINANCE COST AND TAX ABBREVIATION & OUR PROJECTSEXECUTIVE SUMMARY FINANCIAL PERFORMANCE FINANCIAL POSITION PROGRESS

167.08 -139.21 -83.32 Cost of services 0.00 10.46 -10.46 -100.00 Administrative expenses 15.30 64.28 -48.98 -76.20 Finance cost 3.36 8.06 -4.70 -58.31 46.53 249.88 -203.35 -81.38 Loss Before Income Tax

asset held for sale 3 - n.a. Finance Cost 8 4 200 Profit (Loss) before Tax income (expense) (39) 46 (184) Tax Income (Expense) 2 7 (71) Net Profit (41) 39 (205) - 2 - Total Revenues In the three-month

- 2.19 -100% Adj. Previous Year SW Income 0.43 20.31 -98% EBITDA * 102.39 109.40 -6% % EBITDA * 26.1% 25.9% 0% Other Income 4.62 5.56 -17% Financing Cost 0.03 1.22 -98% Corporate Tax 16.11 12.28 31% Net

revenue from sales, slightly increased from 0.45% in 2Q2019. Financial costs of the group for 6M2020 was THB 47.70 million, increased by THB 7.47 million or 18.56% up as compared to 6M2019. Income Tax

of other comprehensive - (1) -100 Finance Cost 7 5 40 Profit (Loss) before Tax income (expense) 5 56 -91 Tax Income (Expense) (1) (8) 88 Net Profit 4 48 -92 - 2 - Total Revenues In the three-month

MB and decrease in other current assets by 1.8 MB. Non-current assets, PPE increased 0.9 MB, Right-of-use asset increased by 8.6 MB, intangible asset decreased by 0.3 MB, and deferred income tax assets

of corporate income tax exemption privilege from BOI since April 2019, resulting in 0.75 million baht increase in tax expenses in the 3-month period ended 31 March 2020 compared to the same period last

expenses 1,042.03 1,264.86 (222.83) (17.62) Total expenses 9,546.67 13,151.35 (3,604.68) (27.41) Profit before share of profit from investments in associated companies, finance cost and income tax expenses

business 26.89 29.25 (2.36) (8.06) 55.04 49.79 5.25 10.53 - Electricity business 41.73 52.69 (10.97) (20.82) 87.47 102.07 (14.59) (14.30) Profit before income tax 180.33 172.23 8.10 4.70 209.00 235.41 (26.41