Group”) as follow: THB Mn THB Mn THB Mn % Sales of goods and services 1,115.7 1,110.5 5.2 0.5 Revenue from finance lease under power purchase agreement 100.9 102.3 (1.4) (1.4) Revenue from construction

Limited (“the Company”), are pleased to provide you our management discussion and analysis for the period ended 30 June 2021 of the Company and the subsidiaries (“the Group”) as follow: Q2-2020 Q1-2021 Q2

(“the Group”) as follow: Q3-2020 Q2-2021 Q3-2021 9M-2020 9M-2021 Change THB Mn THB Mn THB Mn %QoQ %YoY THB Mn THB Mn %YoY Sales of goods and services 1,182.8 1,284.4 1,362.8 6.1% 15.2% 3,438.0 3,862.1

first quarter of 2017 of Baht 3,321 million and Baht 3,502 million respectively, which is equivalent to a decrease of Baht 181 million or a decrease by 5% compared to the same period of 2017. Details are

performance of the Group Unit: Million Baht Q2’ 2019 Q2’ 2018 Increase (decrease) Variance (%) Total revenues 1,729 1,821 (92) (5%) Net profit 70 170 (100) (59%) The Group’s total revenues for the second

had loss of Baht 9.64 million (loss per share of Baht 0.96). The decrease of loss in the amount of Baht 9.24 million comes from the following major items. 1. Underwriting profit before operating

Baht 859 million or 17% as a result of GLOW’s power plants have reached the Contracted Availability Hours set out in the PPA in December 2019, resulting in the decrease of Availability Payment in Q4/2019

, 2018, the company had total assets of THB 12,842 million, decreased from Dec 31, 2017 by THB 1,693 million due to reasons as follow: - a decrease from current assets of THB 1,982 million, which was

164 Million from the increase in revenue and the decrease in financial cost. The Company had revenue from Expressway business of Baht 10,174 Million, representing an increase by Baht 217 Million or 2.2

growth of the business since 2018 and the fact that the Thai Baht value appreciated against US Dollar, the Company had loss on exchange rate, resulting in a decrease in net profit ratio (ROS) from 20.41