370.6 404.0 33.4 9.0 Other Income4 32.0 22.2 (9.7) (30.5) Administrative Expenses (15.8) (28.8) (13.0) 82.6 Finance Costs (148.1) (104.3) 43.8 (29.6) Share of Profit from Investments in Associates and

Administrative Expenses (69.3) (152.9) (83.6) 120.6 Finance Costs (404.0) (459.9) (55.9) 13.8 Share of Profit from Investments in Associates and Joint Ventures 962.5 1,936.1 973.7 101.2 Income Tax (Expense) Income

15.3% Administrative Expenses (34.5) (8.4) 308.8% Finance Costs (76.9) (93.7) -17.9% Share of Profit from Investments in Associates and Joint Ventures 339.2 659.2 -48.5% Income Tax Expense (6.3) (6.8

13.2% 433.4 358.5 20.9% Other Income4 58.6 22.2 163.7% 141.7 96.5 46.8% Administrative Expenses (37.5) (28.8) 30.2% (82.4) (84.8) -2.9% Finance Costs (84.2) (104.3) -19.3% (282.7) (361.8) -21.9% Share of

Expenses (130.8) (152.9) -14.5% Finance Costs (366.6) (459.9) -20.3% Share of Profit from Investments in Associates and Joint Ventures 2,047.4 1,936.1 5.7% Income Tax (Expense) Income (49.1) (18.2) 170.4

of IRPC Clean Power Phase 2 (IRPC-CP Phase 2) in November 2017, in which GPSC holds 51% equity, has expanded the electricity generating capacity allowing the company to increase the volume of

profit decreased by Baht 128 million mainly due to the decrease in steam sales volume of Rayong Central Utility Plants (CUP) and IRPC Clean Power (IRPC-CP) decreased, even though the electricity sales

Authority of Thailand (EGAT) because of the reserved shutdown following EGAT dispatch instruction; IRPC Clean Power Phase 1 (IRPC-CP Phase 1) ceased the gas turbine generator to commissioning with Phase 2 in

(Translation) — 1 — (Translation) No. 10000000/ 152 /61 20 June 2018 Subject: Resolutions passed by the Board of Directors Meeting regarding the share acquisition, the tender offer for the entire

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