DCORP 025/2020 May 13, 2020 Subject: Management Discussion and Analysis – Explanation of net profit for the quarter ended March 31, 2020 and the increase in the overall operations of more than 20 percent

. Peak demand in the Philippines is estimated to increase 5 percent annually. The Philippines plan to increase its generating capacity to 37,000 megawatts by 2020 with significant portion of coal-fired

recorded its year-to-date market share in terms of retail sales volume at 15.8%, or at the 2nd rank, and continue to increase the shares. Total marketing sales volume reduced from the intensifying

the increase of trade receivables-third party of service of electricity distribution. • Property, plant and equipment has increased Baht 40.93 million, as a result of assets for solar energy. • Cash and

in the amount of 1,321.9 million Baht, the amount close to the same quarter last year. Domestic Sales: Revenue from sales in the first quarter was 569.3 million Baht, an increase of 12.0 percent

Baht (6.83) million or (28.1%) as the following reasons:  Total revenue increased Baht 36.70 million or 9.0% from Baht 406.54 million in Q1/2018 to Baht 443.24 million in Q1/2019. The main increase was

(“SPA”) between OKEA and Shell. And OKEA and Shell has entered into the SPA agreement on 20 June 2018. 2. Relevant contract parties (a) Binding Term Sheet in relation to OKEA AS: The Company signed with

sales of PET bottle was 64.2 MB, decreased by 27.0 MB or 29.6% y-o-y mainly due to affect from increase in raw material cost of PET, including to selling price adjustment and its adjustment has difficulty

payments hold down the customers’ breach of contract, revenue from management fee of the juristic person condominium. 2. Cost of sales The company’s cost of sales in quarter 2nd of year 2020 was 0.76 million

Position The Company and its subsidiaries had total assets of Baht 82,585.59 million. A decrease of Baht 914.95 million from the end of prior year was mainly due to decreased accounts receivable and contract