FINANCIAL PERFORMANCE 4 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis Table 1) Revenue Drivers: Sales volume Q1’2019 Q1’2018 % change Q4’2018 % change GWh GWh y-on-y GWh q-on-q

Management’s Discussion and Analysis Table 1) Revenue Drivers: Sales volume 6M’18 6M’19 change Q2’18 Q1’19 Q2’19 change change GWh GWh y-on-y GWh GWh GWh y-on-y q-on-q Electricity sales to EGAT 3,644 4,326 18.7

expansion, higher marketing expenses from more frequent events and activities at malls, including the opening of Central Phuket Floresta. Other cost drivers include administrative costs associated with

period last year, especially in the tourism sector. However, exports and private investment – two major economic drivers – continued to slow in line with the sluggish global economy and trade volume amid

comparison with Q4 2017 results Continuing the trend for the year the key drivers of Q4 2018 performance on the positive side were the higher volumes and higher prices. The 27% increase in revenue compared to

% Other Income 3 4 33% 9 11 22% Total Revenue 254 287 13% 880 1,205 37% Key Drivers Q4/18 Q4/19 Change +/(-) 2018 2019 Change +/(-) Number of branches as at Dec 31 32 38 19% 32 38 19% Same-Store-Sales

sector which continued to expand. Public spending and private consumption remained to be the main growth drivers. The policy rate remained stable at 1.5%. Central Pattana Public Company Limited (“The

and is one of the growth drivers within the Transit media segment. Within the OOH media, Transit media revenue increased by 20.5% YoY to THB 576mn. The sharp rise in revenue growth is attributable to

key drivers for the Company’s aggressive growth. During 2015-2017, the Company has been building foundation and preparing in all areas for the Company’s future growth. Those years are the first phase

million in 3Q17 and 9M17, respectively. The main drivers were attributable to a decrease in room revenue due to three hotel renovations and an increase in administrative expenses to support business