. Page 4 1.2 Additional Investment in Joint Ventures and Associated - On July 14, 2017, Star Energy Geothermal (Salak – Darajat) B.V. (SEGSD), which is the affiliate of EGCO (20.07% indirect ownership

– Darajat) B.V. (SEGSD) (3) Joint Ventures which can be categorized into 2 businesses: 1. Power Generation 1.1 Local power generation Gulf Electric Public Company Limited (GEC) Holding Co.  Gulf Cogeneration

Ventures which can be categorized into 2 businesses: 1. Power Generation 1.1 Local power generation Gulf Electric Public Company Limited (GEC) Holding Co.  Gulf Cogeneration Co., Ltd. (GCC) SPP  Nong Khae

% 0% 2,439 2,354 (3%) EBITDA 1,056 915 1,101 20% 4% 2,095 2,016 (4%) EBIT 743 600 778 30% 5% 1,470 1,378 (6%) Shares of profit of associates and joint ventures 89 111 110 1% 24% 175 221 26% Net profit

quarter of 2019. 2.2 Additional Investments in Joint Ventures and Associated - On March 31, 2017, Star Energy Geothermal (Salak – Darajat) B.V. (SEGSD), which is the affiliate of EGCO (20.07% indirect

64 75 17% (45%) 332 139 (58%) Shares of profit of associates and joint ventures 110 152 155 2% 41% 221 306 38% Net profit for the company 815 922 1,052 14% 29% 1,565 1,974 26% Gross profit margin

898 (24%) 28% 2,081 3,150 51% Other non-operating income and expenses 342 75 199 n/a (42%) 674 338 (50%) Shares of profit of associates and joint ventures 144 155 131 (15%) (9%) 365 438 20% Net profit

-operating income and expenses 149 173 339 127% 96% 317 511 61% Shares of profit of associates and joint ventures 106 (68) 110 3% 262% 236 42 (82%) Income tax expenses (30) (254) (284) 851% 12% (76) (537) 611

) higher finance costs due to higher borrowings as a result of additional investments in machinery, subsidiaries, and joint ventures both in Thailand and overseas.  EBITDA in Q2/2018 was Baht 43 million, a

% EBIT 600 754 1,067 42% 78% Other non-operating income and expenses 196 36 64 78% (67%) Shares of profit of associates and joint ventures 111 152 152 0% 37% Net profit for the company 750 722 922 28% 23