scheduled in PPA, and construction cost is in line with the budget approved by lenders. This achievement would enable us to keep record of managing the project to commence COD in time and in budget for 27

borrowings y-on-y: A 7.4% increase in Q1’2020 to THB 700 million, primarily due to the record of interest expense of Nam Che 1 after COD achievement in June 2019, SPP1 and Angthong Power after an acquisition

, primarily due to the record of interest expense of ABPR5 and Nam Che 1 after their COD achievement in October 2018 and June 2019 and SPP1 after an acquisition in March 2019 ; • Interest expense from ABPIF y

interest expense of ABPR3, ABPR4, ABPR5 after their COD achievements during 2018, Nam Che 1 after COD achievement in June 2019 and SPP1 after an acquisition in March 2019; • Interest expense from ABPIF y-on

-on-y: A 22.6% increase y-on-y from Baht 532 million in Q1’2018 to Baht 652 million in Q1’2019, primarily due to the record of interest expense of ABPR3, ABPR4 and ABPR5 after their COD achievement in

V3 22/08/62 0 V3 22/08/62 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in the Second Quarter of 2019 The Thai economy in the second quarter of 2019

of 2021 (a copy in Thai and English) 2. Management Discussion and Analysis (MD&A) for the first quarter of 2021 (a copy in Thai and English) 3. Company's performance report, Form 45 for the first

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending June 30, 2019 The Thai economy faced increased headwinds in the second quarter