comprehension of foreign participants in the SEC’s rules and regulations and shall not in any event be construed or interpreted as having effect in substitution for or supplementary to the Thai version thereof

, the Company believes it is rationale to conclude the exchange ratio shall be derived from the current book value as at March 31, 2017 with a premium of 27.6% or equivalent to additional of 1.19 shares

THB Mn % Sales of electricity - FiT, base tariff and Ft 727.0 770.9 816.7 831.7 15.0 1.8% 2,666.7 3,146.3 479.6 18.0% FiT Premium 33.2 14.7 20.7 22.1 1.4 6.8% 152.6 90.7 (61.9) (40.6%) Sales of

Mn THB Mn % THB Mn THB Mn THB Mn % Sales of electricity - FiT, base tariff and Ft 806.7 821.3 774.5 848.4 73.9 9.5% 3,146.3 3,250.9 104.6 3.3% FiT Premium 19.6 19.1 15.0 15.2 0.2 1.3% 90.7 68.9 (21.8

- - Issued and paid-up 140.00 100.00 40.00 40.00 Share premium 246.11 - 246.11 n.a. Retained earning Appropriated - legal reserve 5.09 5.09 - - Unappropriated 57.46 44.31 13.15 29.68 Equity attributable to

988.16 (98.80) (10.00) Equity Share Capital - Authorized 140.00 140.00 - - Issued and paid-up 140.00 100.00 40.00 40.00 Share premium 246.11 - 246.11 n.a. Retained earning Appropriated - legal reserve 5.09

and Ft 727.0 806.7 79.7 11.0% FiT Premium 33.2 19.6 (13.6) (41.0%) Sales of electricity to Industrial Users (IU) 6.9 6.8 (0.1) (1.4%) Sales from Biomass Power Plants 767.1 833.1 66.0 8.6% Revenue from

7.5 Share Premium 703.2 603.0 100.2 16.6 Share subscription received in advance form exercise warrants 66.6 - 66.6 100.0 Unappropriated Retained earnings 1,530.2 1,651.1 (120.9) (7.3) Total shareholders

of electricity - FiT, Base tariff and Ft 851.2 788.3 (62.9) (7.4%) FiT Premium 14.6 10.1 (4.5) (30.8%) Sales of electricity to Industrial Users (IU) 9.3 8.2 (1.1) (11.8%) Sales from Biomass Power

พื้นฐาน และค่า Ft 816.7 821.3 774.5 (5.7%) (5.2%) 2,314.6 2,402.5 3.8% ค่า FiT Premium 20.7 19.1 15.0 (21.5%) (27.5%) 68.6 53.7 (21.7%) รายได้จากการขายไฟฟ้าให้เอกชน (IU) 6.2 6.8 8.3 22.1% 33.9% 19.1 21.9