Cogeneration Company Limited, the Company’s wholly owned subsidiary, on October 1, 2019, resulted in the increase in revenue from sales and rendering of services. Management Discussion and Analysis For the 1st

Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the period ended 31 March 2020 of the Company and the subsidiaries (“the

of Thailand Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the period ended 30 June 2020 of the Company and the

quarter of the year 2019, as at 30 June 2019, TCJ and its subsidiaries had the total revenue of Baht 543.85 million decreased from Baht 555.00 million in the year 2018 or decreased by 2.01%. Revenue

quarter of the year 2018, as at 30 June 2018, TCJ and its subsidiaries had the total revenue of Baht 555.00 million decreased from Baht 794.57 million in the year 2017 or decreased by 30.15%. Revenue

2020, as at 31 March 2020 as follows: 1. Consolidated Financial Statement (3 month) In the 1th quarter of the year 2020, as at 31 March 2020, TCJ and its subsidiaries had the total revenue of Baht 272.20

2019 ended March 31, 2019 as follows: Company’s Performance (unit: THB million) 2019 Percentage 2018 Percentage Revenue from co-production rights - - 0.21 100.00 Revenue from organizing concerts 5.62

2019 ended June 30, 2019 as follows: Company’s Performance (unit: THB million) 2019 (2nd Quarter) Percentage 2018 (2nd Quarter) Percentage Revenue from co-production rights - - 0.51 100.00 Revenue from

management in contemplation of enhancing business efficiency to accommodate sustainable growth. PERFORMANCE OVERVIEW 2 | MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1-2020 Revenue Major revenue of The Group mainly

February 18, 2020 Re: Management Discussion and Analysis for full year 2019 To: Director and Manager of the Stock Exchange of Thailand Revenue from sales and rendering of services L&E’s consolidated