Discussion and Analysis EXECUTIVE SUMMARY SIGNIFICANT EVENTS ABBREVIATION & OUR PROJECTSFINANCIAL PERFORMANCE FINANCIAL POSITION PROGRESS OF PROJECTS UNDER CONSTRUCTION EXECUTIVE SUMMARY 1 MOU signing with

DCORP 148/2017 November 13, 2017 Subject: Report on the overall operation for the first nine-month of the year 2017 ended September 30, 2017 and the decrease in the overall operation more than 20 percent

%. A decrease in the peak demand was mainly influenced by the lower temperature than previous year and the success of implementing energy saving programs, which had pushed down the power consumption

: 1. Sales Revenue 1.1 Sales revenue for the 3-months period ended 31 October 2019 For the 3-months period ended 31 October 2019, INGRS registered sales revenue of Baht 695.34 million, a decrease by

of the two companies together. For Q1/2020, there are important factors and significant events in various aspects, such as the depreciation of the Thai Baht against the US Dollar, the decrease in price

future projects. In terms of the progress on Delisting Tender Offer of GLOW, the process was completed on 2 December 2019 and GLOW has been delisted from being listed on the Stock Exchange of Thailand on

causing the gross profit to slightly decrease by Baht 1 million. • IRPC Clean Power (IRPC-CP): The revenue in Q1/2018 was Baht 1,472 million, increased by Baht 523 million or 55% due to the COD of both

June 30, 2017 because the energy payment component of the EGAT electricity tariff is indexed to the price of natural gas for which there was a 6.6% decrease in average effective price for our gas-fired

service of Baht 793.67 million compared with Baht 839.34 million in the same period of the previous year, which decreased by 5.4 percent. The decrease in sales was due to the decrease in overall sales

Performance For the period of the first three months ended 30 June 2020, the Company and its subsidiaries recorded a net loss for the company and its subsidiary in the amount of -2.63 million baht, a decrease