Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 12 Executive Summary Growth in both revenue and net profit demonstrates the effectiveness of retail

domestic sales 24.2% and export sales 75.8%. Gross profit was down from 33.6% to 25.8% due to low margin sale to B2B coupled with the increase in raw material and energy costs. Total expense was Baht 504.6

. Sales contributions were from domestic sales 24.2% and export sales 75.8%. Gross profit was down from 34.3% to 30.2% due to B2B domestic sales in 2Q18 coupled with the increase in energy costs and Thai

3,358.62 million of the year 2018. The significant decreasing came from the reduction of the revenues from construction works of substation, communication system works, renewable energy plant. The revenues

the financial system. The performance of Central Pattana Public Company Limited (“The Company” or “CPN”) in 1Q19 shows total revenue of THB 8,719 mn, an increase of 9.5% from the same period in the

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

Baht 110 million in Quarter 3 2019 or increased by 43% from the sales of OEM of Toyota, IZUZU and Mitsubishi. What is more, the revenue in South - 4 - America zone increased by 14% one of the main

higher demand of automotive parts in the country. Moreover, the revenue in South America zone increased by 11% from new customers and rental mold income. The revenue in Africa and European zones decrease

66 5% -3% 177 207 17% Revenue (Million Baht) 1,653 1,608 1,460 -12% -9% 4,954 4,785 -3% Average Sales Price (Source: Department of Energy Business, Ministry of Energy) B100 (Baht / Litre) 26.39 25.02

Collinsville Solar Power Project on December 12, 2018 and March 21, 2019, respectively, and the acquisition of RATCH Cogeneration Company Limited on October 1, 2019.These resulted in the increase in revenue from