@egco.com Page 2 Management Discussion and Analysis 1. Significant events in the Second Quarter of 2020  The progress in construction projects - Gangdong Fuel Cell Project (Gangdong), a project of Paju

late 2Q20 and revenue from sale of land and construction would be realized in accordance with accounting principal, upon transferrence and by progress of construction, respectively. During 3Q20, the ESSE

future projects. In terms of the progress on Delisting Tender Offer of GLOW, the process was completed on 2 December 2019 and GLOW has been delisted from being listed on the Stock Exchange of Thailand on

Bank through private placement or 35.6169% of the total paid-up capital and on July 27, 2017, the company has received the subscription of the newly issued ordinary shares current from CTBC Bank, totaled

private placement or 35.6169% of the total paid-up capital and on July 27, 2017, the company has received the subscription of the newly issued ordinary shares current from CTBC Bank, totaled Baht

has been completed; or b. by a private placement of the Company’s newly issued shares offered to the Seller, with the offering price of 1.00 Baht per share, and the number of issuing shares equal to the

Che (สปป. ลำว) ประเภทเช้ือเพลิง น ้า ก ำลงักำรผลิตติดตัง้ (MW) 15 MW สดัส่วนกำรถือหุ้น (%) 72.0% SCOD ไตรมาส 1 ปี 2562 สญัญำซ้ือขำยไฟฟ้ำ 15.0 MW / 25 ปี % ควำมคืบหน้ำ 92.6% 11 Progress on track Progress

three financial years to the date of the registration statement. 7. Information concerning the material capital expenditures and divestitures currently in progress, including the distribution of these

) ระหวาง Dream Islands Development 2 Private Limited (“DID 2”) (ซึ่งเปนบริษัทยอยท่ีบริษัทฯ ถือหุนรอยละ 99.99 ของหุนท่ีจําหนายได แลวท้ังหมด) และ/หรือบริษัทยอยอ่ืนท่ีบริษัทฯ ถือหุนไมวาจะเปนทาง

Certified Companies of Thailand's Private Sector Collective Action Coalition Against Corruption LH Financial Group Public Company Limited, Land and Houses Bank Public Company Limited and Land and Houses Fund