Microsoft Word - MD&A 2Q17 EN August 15, 2017 To President, The Stock Exchange of Thailand Subject Notification on the difference of revenue from sales and net profit YOY by more than 20 percent

spare part and equipment. Net loss, cause from the epidemic of COVID-19. Steel demand decrease and lead to price reduction. The difference between selling price and raw material cost per ton (Metal spread

was Bt33,962mn, increasing 2. 5% YoY and 0. 8% QoQ, against the mid- single digit growth FY19 guidance. EBITDA stood at Bt18,906mn, flat YoY but increasing 4.6% QoQ following revenue improvement and

under a Power Purchase Agreement) increase 10.8% QoQ from Baht 1,637.7 million to Baht 1,814.8 million. The increasing of Baht 177.1 million mainly derived from sales of natural gas power plant which

revenue from finance lease under a Power Purchase Agreement) increase 1.6% QoQ from Baht 1,814.8 million to Baht 1,843.5 million. The increasing of Baht 28.7 million mainly derived from sales of biomass

period of the previous year due to the fluctuation of the Thai Baht. หนา้ 3 จาก 4 Finance Cost The Company’s financial cost in 3rd quarter of 2018 was at Baht 5.58 million increasing at Baht 4.08 million

of 85% YoY and 6% QoQ while subscribers rose to 571,800 or a net addition of 50,600. Put more focus on convergence and EBITDA generation Given the growing fixed broadband and increasing popularity of

Baht 274.7 million, mainly from increase in cost of natural gas power plant when comparing to the first quarter of 2021 amounting to Baht 242.9 million as the continuing increasing in fuel material cost

-shutdown hours in the third quarter of 2021 significantly lower than second quarter of 2021 which result in the increasing in overall revenue of biomass power plants. Moreover, sales of natural gas power

-shutdown hours in the second quarter of 2021 lower than first quarter of 2021 which result in the increasing in overall revenue of biomass power plants. Moreover, sales of natural gas power plant also