SAAM Energy Development Public Company Limited - 1 - 4 January 2019 Subject: Management Discussion and Analysis for the year ended 31 December 2017 To: The President of the Stock Exchange of Thailand

(NESDB) forecasted Thailand’s economy to expand in the range of 3.50% to 4.50% (Mean 4.00%), lower than the expansion of 4.20% in 2018. A lower projection is mainly resulted from the uncertainty of trade

of machinery of 22.40 Million Baht thus subsidiaries has loss from impairment of investment in affiliate company of 165.70 Million Baht and also from Paradise Green Energy Company Limited of 52.32

in the amount of 15.97 million baht or 5.47 percent as a result of the company adjusting the marketing policy to expand the market share by adjusting the sales price decreased And increased trade

decreased because of the disposal of investment in associate (Well Korat Energy Co., Ltd.) on 30 June 2016, which recognized gain on sales amounting to 25.42 Million Baht for Q2’16. 6. Administrative expense

EASTERN ENERGY PLUS COMPANY LIMITED Eastern Energy Plus Company Limited (“EEP”) offered for sale newly issued securities in the category of debentures without approval from the SEC office which is in

Energy Absolute Public Company Limited Energy Absolute Public Company Limited offer to sell newly issued securities in the category of Bill of Exchange without approval from the SEC Office which is

196,000 ordinary shares of Hin Kong Power Holding Company Limited or 49 percent of the total shares at THB 10 per share, which is at par price, totaling THB 1.96 million to Gulf Energy Development Public

the first quarter of 2018, the company had a gain from the sale non-current assets held for sale in the amount of Baht 32.02 million. 1.2 The company’s income from energy business in Q1/2019 was Baht

economic slowdown, including the decrease in the demand for leather in the world market. Customers delay orders. 1.2 The company had revenue from the energy business group, which was generated from