1 No. ACE-ACC-3/2021 13 August 2021 Subject Management Discussion and Analysis for the period ended 30 June 2021 To President The Stock Exchange of Thailand Absolute Clean Energy Public Company

Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the period ended 30 September 2021 of the Company and the subsidiaries

in Corpus Christi, Texas, USA by the equal Joint Venture Reference is made to the disclosure made by Indorama Ventures Public Company Limited (“IVL”) on March 21st, 2018 and December 24th, 2018

installment, equal to 10 percent of the bond value on the issuance date, will be due on 16 November 2025; the second installment, also equal to 10 percent of the bond value on the issuance date, will be due on

structure and operating which includes strategies to be consistence with economic resulting in recognized profit of company equal to 5.84 million baht which is more than recognized of loss attributable of

of this year from July until September 2018 with the details as follows: The Company and its subsidiaries in the third quarter of 2018 had total revenue equal to 82.72 million Baht, there was a

result The Company’s operating result for the year 2019, revenue from sales increase from last year by 16.7%. Gross profit margin is equal to 46.6%, whereby net profit for the year is equal to Baht 262.21

administrative expenses. Thus, the details of the Company’s performance are explained as follows: Rental and Services Income Rental and service income for the second quarter in 2019 was equal to 140.5 million baht

• The Company’s Net Profit continues to grow and remark as a highest net profit for 6 th quarterly consecutively since 2017. • The Company’s Cash Collection in Q2/2019 equal to 706 million baht, increased

shares, which was the share price between August 31, 2017 – September 20, 2017 equal to THB 1.25 per share (source: SETSMART from www.setsmart.com)). The fully diluted price is calculated by: (Market price