Discussion and Analysis for 1st quarter ended as of March 31, 2019 Attention: President The Stock Exchange of Thailand AI Energy Public Company Limited (AIE) would like to submit the financial statement for

“Liabilities directly associated with assets held for sale” in the statement of financial position as at 31 March 2019. The operating results of Boonbaramee and its subsidiaries were separately present under

the record of dividend income from CK Power Public Company Limited (CKP) in the income statement after the reclassification of investment in the third quarter of the year 2018. However, gains on sale of

due to the raising in raw water sales volume and net profit attributable to equity holders of the parent company of 609.48 million Baht, increased by 28.85 million Baht or 4.97%. Income statement

its subsidiaries under the caption of “Assets held for sale” and “Liabilities directly associated with assets held for sale” in the statement of financial position as at 30 June 2019. The operating

. Current investment decreased by THB 1,469 million due to the shift from short-term to long-term investments (see more details in notes to financial statement 4 Other investments). Net PPE increased by THB

be recorded as finance costs in the Statement of Income. Loans are repaid in installments upon unit transfer. Management Discussion and Analysis ( - translation - ) For operating result of 2Q19, ended

still continuously growing up. 4. Financial position Statement of Financial Position – Consolidated (Million Baht) As at Increase (Decrease) % June 30, 2018 December 31, 2017 Asset 1,016.09 954.82 61.27

annualized projected annual net profit of 36.05 percent and there was a decrease in total assets of 3.12 percent from the previous year. (2.5) Financial Position Description Statement of Financial Position

expenses. 2As shown in financial statement, excluding minority interest. 3Net profit excludes minority interest, is adjusted for amortisation of PPA in MACO, gain of fair value measurement in MACO at