VSPP 100% 14.3 14.3 2Q2019- 1Q2020 CCE Waste to Energy VSPP 33.33 8.6 2.9 4Q2019 Total 23.0 17.2 OVERALL PERFORMANCE Operating Expense  Administrative Expenses increased from Baht 8.4 million in 1Q2018

the same quarter of the previous year by Baht 25 Million or 9.9 percent mainly from the pre-operating expense of the new project which cannot be recorded as cost of construction according to accounting

in associates. Cost of service amounted to Baht 10,311 Million representing an increase from the previous year by Baht 536 Million or 5.5 percent mainly from the increase in operating expense, expenses

126.9 31.7 Jan 2019 CCE Waste to Energy VSPP 33.33 8.6 2.9 4Q2019 Total 146.7 45.8 OVERALL PERFORMANCE Operating Expense  Administrative Expenses decreased from Baht 152.9 million in 2017 to Baht 130.8

Solar VSPP 100% 4.9 4.9 4Q2018- 1Q2019 Gulf NLL2 Gas-fired Cogeneration SPP 25.01 120.0 30.0 Jan 2019 CCE Waste to Energy VSPP 33.33 6.9 2.3 4Q2019 Total 131.8 37.2 OVERALL PERFORMANCE Operating Expense

Baht 2,451 Million representing an increase from the same quarter of the previous year by Baht 89 Million or 3.8 percent mainly from the increase in operating expense and amortization. Selling and

start to generate revenue  Power projects to consume large volume of water utilities OVERALL PERFORMANCE Operating Expense  Administrative Expenses increased from Baht 8.8 million to Baht 30.6 million

baht 10,474 12,123 12,547 Gross profit margin (%) 20.47% 22.84% 25.49% ratiosConsolidated financial 2019 2018 2017 Financial data and profitability ratios (continuous) Operating expense (including

12,547 12,416 Gross profit margin (%) 22.84% 25.49% 26.48% Consolidated financial ratios 2018 2017 2016 Financial data and profitability ratios (continuous) Operating expense (include Research and

water utilities OVERALL PERFORMANCE Operating Expense  Administrative Expenses increased from Baht 15.8 million to Baht 28.8 million as the Company expanded our business portfolio which led to increase