SAAM Energy Development Public Company Limited - 1 - 7 August 2020 Subject: Management Discussion and Analysis for the period ended 30 June 2020 To: The President The Stock Exchange of Thailand SAAM

(2.20) (3.24) 47.27% Profit for the period 14.44 46.03 218.77% 1Q18 %YoYIncome Statement (in million Baht) 1Q17 -2- Cost of Sales Cost of sales for the 1st quarter of 2018 was Baht 172.39 million which

Income For the three-month period ended 31 December  The company has revenue from sale Baht 423.88 million, decreased from the same period last year Baht 18.02 million or 4.1%.  Gross profit decreased

to 25 Branches. Franchise period of each branch when HHC commenced the operation is 12 years (Agreement period 8 years and Automatic renewal 4 years as from the date HHC exercise Franchise by

. Other income increased 60.00 percent from year 2017 due to higher gain from foreign exchange. Company total revenue of 4rd quarter decreased 13.85 percent from the same period of last year. Revenue from

(Translation) Re: BOD.SET 008/2019 May 13, 2019 Subject: Clarification on the Change in operating results for the three month ended March 31, 2019 over 20% compared with the same period of the

increase of 87.82 million baht or 22.41% from the same period of the prior year. The total income was 1,021.43 million baht, an increase of 77.81 million baht or 8.25%, the financial cost was 247.16 million

statement, the Company booked a net loss amounting to 24.76 million baht, representing a bigger loss of 14.50 million baht or 141.35% from the net loss of 10.26 million baht booked in the same period of last

between April and June 2019 with the details below. Summary of Income Statement for 3 months period (Unit: Million Baht) For the second quarter Changes Year 2019 Year 2018 Amount Percent Revenue from Sales

million baht or 22.41% from the same period of the prior year. The total income was 1,021.43 million baht, an increase of 77.81 million baht or 8.25%, the financial cost was 247.16 million baht, an increase