Electricity Authority mmBtu Million Btu (unit of gas consumption) NNP Normalized net profit O&M Operations and maintenance P.A. Per annum PEA Provincial Electricity Authority (Thailand) PPA Power purchase

PowerPoint Presentation MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q4/2017 and FY2017 GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP Management Discussion

the lower gas consumption. Gross profit and gross profit margin of Solid Waste Power Plant for the year ended 31 December 2019 increased from the last year because of operation management and

the lower gas consumption. Gross profit and gross profit margin of Solid Waste Power Plant for the year ended 31 December 2019 increased from the last year because of operation management and

and continuous raining as well as the increase of Independent Power Supply (IPS) and Small Power Producer (SPP) outside the EGAT system. In the meantime, electricity consumption of the country in EGAT

government spending into infrastructure projects which lead to a continuous growth of Thailand’s electricity consumption. The trend of the power industry in the second half of 2017 is estimated to be lower

costs increased 11.3% year-on-year from Baht 12,324 million for 9M’2016 to Baht 13,723 million for 9M’2017, primarily due to an increase in gas consumption arising from the inclusion of new power plants

Metropolitan Electricity Authority mmBtu Million Btu (unit of gas consumption) NNP Normalized net profit O&M Operations and maintenance P.A. Per annum PEA Provincial Electricity Authority (Thailand) PPA Power

consumption) NNP = Normalized net profit O&M = Operations and maintenance P.A. = Per annum PEA = Provincial Electricity Authority (Thailand) PPA = Power purchase agreement PTT = PTT Public Company Limited SG&A

PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result of Quarter 2 Year 2018 Ended June 30, 2018 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion