PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result of Quarter 1 Year 2020 Ended March 31, 2020 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion

delays in budget disbursement, while external factors such as global conflicts affecting oil prices and the purchasing power of our trade partners have also exerted significant influence. Additionally, the

education strategy in line with Thailand?s Capital Market Development Master Plan and in preparation for the imminent aging society. ?Financial literacy, income generation, smart spending, saving discipline

PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result for the Fiscal Year Ended December 31, 2019 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion

benefit expenses in accordance to the labour protection act (No.7) in second quarter of 2019, moreover; during lockdown the company implemented a cost saving scheme; where 6 months figure lower by 11

to earn adequate income after retirement. Therefore, the Ministry of Finance has proposed the draft National Pension Fund Act to enable mandatory retirement saving scheme for documented workers, which

company’s tax saving in Q2/2016. Meanwhile, electricity profit was increased by recognition of operating performance of SEGSD. Page 13 Other Subsidiaries in Power Generation business: Unit : Million Baht

PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result of Quarter 3 Year 2019 Ended September 30, 2019 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s

our new power plants that became commercial operation in recent years, operational cost saving and an increase in Ft in May 2017. Normalized Net Profit (NNP)  NNP increased 19.3% year-on-year from Baht

Revenue2 26.8 1.4 1,883.2% - Power Business 1.4 0.0 N/A Costs of Sales and Services (276.0) (273.0) 1.1% Gross Profit 183.4 149.0 23.1% Gross Profit from Operation3 156.6 147.6 6.1% Other Income4 19.4 16.8