2017 compared to Q4 2016: Q4 2017 Q4 2016 YoY change YoY % change Unit: Million Thai Baht (THB) Sales and service income 209.13 181.21 27.92 15% Gain from exchange rate 0.44 0.57 -0.13 -23% Other income

from sales and rendering of services (excluding fuel cost) 5,881.33 6,656.26 (774.93) (11.6) Revenue from financial lease contract 3,335.81 3,995.45 (659.64) (16.5) Share of profit of associates and

Discussion and Analysis 1. Significant events in the first Quarter of 2020 1.1. The progress in construction projects - Gangdong Fuel Cell Project (Gangdong), a project of Paju Energy Services Co.,Ltd. (Paju

FINANCIAL POSITION PROGRESS OF PROJECTS UNDER CONSTRUCTION EXECUTIVE SUMMARY EXECUTIVE SUMMARY 2 Q1’2019 Q1’2018 % change Q4’2018 % change million Baht million Baht y-on-y million Baht q-on-q Sales and

June 21, 2019, The Board of Directors of Electricity Generating Public Company Limited (EGCO) approved the investment in Gangdong Fuel Cell Project (Gangdong), located in Gangdong-gu, Seoul, South Korea

enhanced to 28% 9M'2016 9M'2017 % change million Baht million Baht y-on-y Sales and service income 20,691 23,720 14.6% EBITDA 5,679 6,626 16.7% Net profit 2,473 2,823 14.1% Normalized net profit (NNP)* 1,966

producing and distributing electricity from waste fuel 75.009% of “GP1” investment was made to purchase additional 24,990 shares at par value of 10.00 baht and 1,224,509 shares at 2.50 baht from ZW POWER

useful lives with reference to the Health Study Report from an independent engineering expert and the repair and maintenance of buildings, machinery and equipment. This is considered the Change in

EXECUTIVE SUMMARY EXECUTIVE SUMMARY 2 6M’18 6M’19 change Q2’18 Q1’19 Q2’19 change change Btmn Btmn y-on-y Btmn Btmn Btmn y-on-y q-on-q Sales and service income 16,961 21,123 24.5% 8,805 10,257 10,866 23.4

@egco.com Page 2 Management Discussion and Analysis 1. Significant events in the Second Quarter of 2020  The progress in construction projects - Gangdong Fuel Cell Project (Gangdong), a project of Paju