Flow is after changes in net working capital and cash tax, before maintenance capex. 6 Business Segments Definitions IVL now categorizes its businesses in three segments. This section of the document

Retail 921 934 1,002 9% 7% 3,609 3,820 6% Industrial 570 483 553 -3% 14% 2,180 2,196 1% Total 1,492 1,417 1,555 4% 10% 5,789 6,016 4% Wholesale Business Petroleum traders in accordance with section 7 258

or could materially affect, directly or indirectly, the issuer’s financial position and results and business operations, and investments by holders of securities in the issuer, in a section headed

, section 8 of NCPO’s Order No. 9/2018. Therefore, the Group of the Company had considered to reverse of loss from License impairment in the consolidated financial statements ended 31 December 2018, amounting

entire business transfer by a public company pursuant to Section 107 of the Public Limited Companies Act B.E. 2535 (1992) (as amended). Therefore, the Company is required to seek approval from a

Transfer Transaction is considered to be an acquisition or acceptance of an entire business transfer, in accordance with Section 107 (2) (B) of the Public Company Limited Act. B.E.2535 (as amended

dissolution and liquidation are complete. In this regard, the Entire Business Transfer Transaction is considered to be an acquisition or acceptance of an entire business transfer, in accordance with Section 107

. Such disposal of assets constitutes a sale or transfer of the whole or substantial parts of the business of the Company to other persons, subject to Section 107(2)(a) of the Public Limited Companies Act

, please contact Investor Relations Section of the Electricity Generating Public Company Limited at Tel: 662-998-5145-8 or Email: ir@egco.com Page 2 Management Discussion and Analysis 1. Power Industry and

forward- looking statements within the meaning of the federal securities laws, specifically Section 21E of the Securities Exchange Act of 1934, as amended. PSG, the Fund's investment advisor, has