of 2019. For the operating result of the first Quarter ended March 31, 2020 compared with the same period of 2019, the Company had the Revenue from Sale of THB 341. 59 Million which was increased by

Cogeneration Company Limited, the Company’s wholly owned subsidiary, on October 1, 2019, resulted in the increase in revenue from sales and rendering of services. Management Discussion and Analysis For the 1st

fluctuations, and the increase in revenue from sale of electricity following greater irradiation. - Sales income SAAM Group’s income from sale of electricity is generated from a 2.0 MW solar power project in

QoQ YoY 9M’17 9M’18 +/(-) 1. Revenue from sales and contract work 1.2 0.9 5.1 466.7% 325.0% 2.4 7.3 204.2% 1.1 Turnkey Total Solutions 1.2 0.9 5.1 466.7% 325.0% 2.4 7.3 204.2% 2. Revenue from services

Remark Sales and Services Income 686.15 582.93 103.22 17.71% - LPG Trading 195.57 186.44 9.13 4.90% 1 - Transportation 4.18 4.00 0.18 4.50% - Conversion Kit Installation 0.37 0.68 (0.31) (45.59%) 2

from sales & service 719.81 853.77 -133.96 -15.7% Other income 5.57 6.29 -0.72 -11.4% Total revenue 725.38 860.06 -134.68 -15.7% Cost of goods sold & service 638.35 743.25 -104.90 -14.1% Selling expenses

, Thailand Tel (035) 350 880 Fax (035) 350 881 Website: www.aapico.com Management Discussion and Analysis for the 3rd quarter of year 2024 2 Total revenue decreased by 15.1% year-on-year. Sales and service

. Despite increased fuel cost, cost of sales and services were kept in line with the revenue growth. Like in Q3 the impact of a lower US dollar affected the export sales price in Thai baht. The reduction in

for the third consecutive year from mid-November to early December. The performance of the Company and its subsidiaries continued to grow, recording total revenue and profit at baht 64,234.49 million

net profit amount of Bath 105.72 million or Baht 46.49 million decreased which details are as follows; (1) Revenue from sales In 2018, the Company and its subsidiaries had total revenue from sales at