-1- AIT (VP-SEC) 005E/2022 21 February 2022 Subject: Management's Discussion and Analysis of Operating Results for the year 2021 and Q4-2021 To: The President of the Stock Exchange of Thailand

Discussion and Analysis for the year ended December 31, 2022 Attention: President The Stock Exchange of Thailand AI Energy Public Company Limited (“the Company”) would like to submit the financial statement

principal assets of mutual fund; "Exchange" means the Stock Exchange of Thailand; "major investor" means a person having any of the following characteristics: (1) persons who have acquired the initial units

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

Deemed as Acquisition or Disposal of Assets dated August 31, 2008 and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed

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