PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result of Quarter 1 Year 2018 Ended March 31, 2018 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion

(Translation) November 14, 2018 Ref: SET-2018-017 Re: Management Discussion and Analysis for Quarter 3’ 2018 Attn. to: President The Stock Exchange of Thailand Filter Vision Public Company Limited

OF OPERATION FOR 3Q2017 Consolidated Financial Statements 3Q2016 3Q2017 Increase/(Decrease) Baht million Baht million Baht million % Revenue from Sales and Services 371.2 406.2 35.0 9.4 - Operating

9M19, 43% drop from 9M18 and THB 41m in 3Q19, 65% declined from 3Q18, due mainly to the decrease in revenue from business management service. Page 6 of 8 Singha Estate Public Company Limited Management

6 December 2007 Pace Development Corporation Public Company Limited 87/2 CRC Tower All Seasons Place, 45th Floor, Unit 3, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel. 66 2 654 3344 Fax. 66 2

third quarter of the year 2019, the Company had the net profit attributable to equity holders of the Company in the amount of Baht 937 Million representing a decrease from the same quarter of the previous

Thailand Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the period ended 31 March 2021 of the Company and the subsidiaries

Total Asset 19,546 17,813 Total Equity 14,054 11,942  The Company posted net profit for the year 2017 amounted to THB 990 million which in last year was loss by THB 7 million due to; - Increasing of HRC

| 4 Education business The Company reported revenue from education business of Baht 91 million in 3Q19, decreased by 7.1% and Baht 286 million in 9M19, decreased by 5%. The reasons of decrease were from

the decrease in business’s result for 9M19 since it caused the drop in revenue with the cost of employees of Dusit Thani Hotel Bangkok. However, the Company sold the long-term investment and recorded