SAAM Energy Development Public Company Limited - 1 - 12 May 2020 Subject: Management Discussion and Analysis for the period ended 31 March 2020 To: The President The Stock Exchange of Thailand SAAM

rental – provision of services and development of renewable energy projects 6.58 17.26% 6.40 17.38% 0.18 2.73% Total 9.66 100.00% 9.43 100.00% 0.23 2.41% - Cost of sales Cost of sales related to generation

previous year (end of 2018: THB 296.99 million) mainly due to the Company’s generation of net profit. SAAM Energy Development Public Company Limited - 5 - Please be informed accordingly, Yours sincerely, Mr

9.54 100.00 (0.11) (1.14) SAAM Energy Development Public Company Limited - 3 - - Cost of sales Cost of sales related to generation and distribution of electricity under SAAM-SP1 mainly includes (1

Qualifications of Debenture Holders’ Representatives and Authorized Actions of Debenture Holders’ Representatives (codified)

Solar Energy Business 131.23 121.16 10.07 8.31 Cost of sales and services 198.74 137.74 61.00 44.29 Printing Business 147.84 88.57 59.27 66.92 Solar Energy Business 50.90 49.17 1.73 3.52 Gross Profit

Period As Of Details AI ENERGY PUBLIC COMPANY LIMITED 2023 Reviewed Company Q2 30/06/2023 AI ENERGY PUBLIC COMPANY LIMITED 2023 Reviewed Consolidated Q2 30/06/2023 AI ENERGY PUBLIC COMPANY LIMITED 2023

services consists of cost of sales from electricity generation and distribution and costs of services and rental from provision of services and development of renewable energy projects. For the year 2018

Mr. Wichai Thavornwattanayong During 2014-2015, Mr. Wichai Thavornwattanayong and Mr. Sittichai Pornsupanan, ex-directors and ex-executives of Inter Far East Energy Corporation Public Company Limited

Mr. Sittichai Pornsupanan During 2014-2015, Mr. Wichai Thavornwattanayong and Mr. Sittichai Pornsupanan, ex-directors and ex-executives of Inter Far East Energy Corporation Public Company Limited