calculation (million shares) 2,607 2,607 2,607 2,607 2,607 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis Change in Capital Structure • Total assets increased by 20.9% from the end of

shares) 2,607 2,607 2,607 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis Change in Capital Structure • Total assets increased 9.5% from Baht 100,636 million as of December 31

LIMITED Management’s Discussion and Analysis Change in Capital Structure • Total assets increased by 13.1% from the end of 2018 to Baht 113,801 million as of June 30, 2019, primarily due to the continual

Capital Structure • Total assets increased by 13.3% from the end of 2018 to Baht 114,038 million as of September 30, 2019, primarily due to the continual expansion of project portfolio both local and

Assets Company Limited The Company would like to disclose information memorandum on connected party transaction as specified in the Notification of Capital Supervisory Board No. Tor Jor.20/2551 Re : Rules

used to repay debts and the rest will be used as working capital. The Company still have other assets such as office decorations, vehicles or computer software licenses. 4. Purpose of Transaction : The

common shares at THB 1 par value, 10.01% of TSE’s issued and paid-up capital General information of the disposal of assets 1. Company Registration Name: Thai Solar Energy Public Company Limited 2. Date of

Source and Use of Fund: 3M24 (Bt.mn) Source of fund Use of fund Operating cash flow 30,516 Net CAPEX & Fixed assets 7,071 Proceed from capital reduction of investment in an associate 243 Net borrowings

revenue (%) 23.59% 28.33% Performance Ratio Return on Equity (ROE) (%) 9.74% 10.71% Return on Assets (ROA) (%) 5.06% 5.64% Capital Structure and Debt Ratio Debt to Equity ratio (time) 0.94 0.88 Debt Service

on Assets (ROA) (%) 5.64% 6.21% Capital Structure and Debt Ratio Debt to Equity ratio (time) 0.88 0.88 Debt Service Coverage ratio (DSCR) (time) 2.19 2.26 Note: 1) Gross profit and Net profit were