of the Capital Market Supervisory Board No. TorNor. 27/2552 Re: Rules, Conditions, and Procedures for Establishment and Management of Funds dated 20 July 2009, the Office of the Securities and Exchange

) and Clause 20 of the Capital Market Supervisory Board No. TorNor. 27/2552 Re: Rules, Conditions, and Procedures for Establishment and Management of Funds dated 20 July 2009, the Office of the Securities

Management Discussion and Analysis For the first quarter ended March 31, 2020 Bangkok Commercial Asset Management Public Company Limited 99 Surasak Rd., Silom, Bangrak, Bangkok 10500 Thailand Tel 0

Excessive Charge, Service Fees for Wastewater Management 3 Gross Profit from Operation excludes Other Revenue from Utilities Business. 4 Other Incomes mainly consists of Interest Income from Loans to GHECO

1 Ref: AC.021/2018 14 August 2018 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

Water Sales, and Wastewater Treatment Services. 2 Other Revenue consists of Excessive Charge, Service Fees for Wastewater Management, and Revenue from Solar Rooftop 3 Gross Profit from Operation excludes

1 Ref: AC.028/2018 13 November 2018 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

SAAM Energy Development Public Company Limited - 1 - 4 January 2019 Subject: Management Discussion and Analysis for the year ended 31 December 2017 To: The President of the Stock Exchange of Thailand

to lower contribution from GHECO-One. Other Income 2018 2019 Increase/ (Decrease) THB mm THB mm % Dividend and Management income 399.6 540.7 35.3% Others 309.0 436.4 41.2% Total other income 708.6

days shutdown in the same period of last year. Other Income Q1 2019 Q1 2020 Increase/ (Decrease) THB mm THB mm % Dividend and management income 68.7 81.5 18.5% Others 46.1 264.2 473.4% Total other income