– Non-operating income / (expense) B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis Q1’19 Q4’19 Q1’20 change change Btmn Btmn Btmn y-on-y q-on-q Electricity sales Sales to EGAT

cost management for electricity generation of our gas- fired power plants which contribute approximately 70% of our portfolio capacity. Land Lease Agreement for U-Tapao hybrid project On June 26, 2020

before Interest, Taxes, Depreciation and Amortization EDL = Electricite Du Laos EGAT = Electricity Generating Authority of Thailand ERC = Energy Regulatory Commission EPC = Engineering, Procurement and

PEA tariff of which Ft is a major component. With situation of a stable gas price this year if Ft trends is continuous to increase, it would be favorable to our operating margin, i.e. electricity sales

cycle cogeneration power that commenced COD on October 1, 2018. It has an installed capacity of 133 MW and sells electricity to EGAT 90 MW under a 25-year PPA. The project was able to achieve COD as

) successfully started commercial operation in October 2018. Therefore, total installed capacity of 3 SPP power plants which started commercial operation in 2018 is 399 MW which sell electricity to EGAT at 270 MW

the Small Power Producer (SPP) scheme, and reliable cash flows from long-term power purchase agreements (PPAs) with the Electricity Generating Authority of Thailand (EGAT) and reputable clients. (Please

combined cycle cogeneration power that commenced COD on June 1, 2018. It has an installed capacity of 133 MW and sells electricity to EGAT 90 MW under a 25-year PPA. The project was able to achieve COD as

is expected after the completion of additional LTSA of these 6 projects. The approval of SPP Replacement BGRIM has 5 cogeneration power plants qualified for the SPP replacement scheme which allows SPP

9M/2019 mainly due to recognition of revenue from electricity sales from Global Renewable Power Co., Ltd (GRP) after an acquisition completion on 26 March 2020 as well as an increased of revenue from