%.  Distribution costs for the 4th quarter 2018 represented 21.2% of revenue from sales, increased from the same period last year Baht 2.39 million or 2.7%. The change was due to increasing of rental expense. 1/2

9.54 100.00 (0.11) (1.14) SAAM Energy Development Public Company Limited - 3 - - Cost of sales Cost of sales related to generation and distribution of electricity under SAAM-SP1 mainly includes (1

revenues 55.13 100.00 54.03 100.00 1.10 2.04 Expenses Cost of sales 4.57 8.29 4.57 8.45 0.00 0.07 Cost of service and rental 9.61 17.42 9.83 18.20 (0.23) (2.32) Selling and service expenses 0.17 0.30 0.36

expanding distribution channel. 1.3) Revenue from selling of real estate increase 80. 83 million baht or 100% due to its subsidiaries start to recognize revenue from selling of real estate. 1.4) Revenue from

Compare % + (-) Revenues from sales and services 976.46 1,041.05 (64.59) (6.20) Cost of sales and services (754.53) (714.18) (40.34) 5.65 Gross profit 221.94 326.87 (104.93) (32.1) Profit (loss) for the

that are combined as part of the cost of sales in 2Q19. Consisting of the impact of the legal adjustment of compensation for employee retirement 400 days of THB 15 mil (TKS 2 mil, TBSP 13 mil) and the

100.00% 18.26 100.00% 2.33 12.77% Expenses Cost of sales 1.56 7.56% 1.51 8.26% 0.05 3.25% Cost of service and rental 3.32 16.11% 3.25 17.82% 0.06 1.94% Selling and service expenses 0.05 0.26% 0.05 0.30

sales revenue is increased by 1.4 percent compared to the same quarter of the previous year (decreased by 0.6 percent from Q4/2019), mainly due to cost control in terms of production and distribution

Company consists of costs of services and rental from services and development of renewable energy projects businesses, and cost of sales from electricity generation and distribution business. For the 9

gain more revenue from these new distribution channels and also resulted to more efficient cost of sales management. However, the company had increasing financial costs from short-term loans from other