@egco.com Page 2 Management Discussion and Analysis 1. Significant events in the Second Quarter of 2020  The progress in construction projects - Gangdong Fuel Cell Project (Gangdong), a project of Paju

late 2Q20 and revenue from sale of land and construction would be realized in accordance with accounting principal, upon transferrence and by progress of construction, respectively. During 3Q20, the ESSE

and the operation that is working accordance to the plan, to increase the proportion of renewable energy of the company. Progress of the Solar Power Plant Product in Thailand As of 16 January 2020, the

million Baht mainly from progress of construction including clarified water & total water solution projects, Bangpakong pump system upgrade project and Tubma Reservoir project; after depreciation and

future projects. In terms of the progress on Delisting Tender Offer of GLOW, the process was completed on 2 December 2019 and GLOW has been delisted from being listed on the Stock Exchange of Thailand on

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

ก ำลงักำรผลิตติดตัง้ (MW) 257 MW dc สดัส่วนกำรถือหุ้น (%) 80.0% SCOD 30 ม.ิย. 2562 สญัญำซ้ือขำยไฟฟ้ำ 214 MW ac / 20 ปี % ควำมคืบหน้ำ 87.5% Progress on track Progress on track Progress on track

Che (สปป. ลำว) ประเภทเช้ือเพลิง น ้า ก ำลงักำรผลิตติดตัง้ (MW) 15 MW สดัส่วนกำรถือหุ้น (%) 72.0% SCOD ไตรมาส 1 ปี 2562 สญัญำซ้ือขำยไฟฟ้ำ 15.0 MW / 25 ปี % ควำมคืบหน้ำ 92.6% 11 Progress on track Progress