by THB 368.3 mm or 12.7%, compared to the same period of last year. KEY HIGHLIGHTS  The growth of gross profit was 87.0% y-o-y mainly attributable to the higher revenue from industrial land sale and

SAAM Energy Development Public Company Limited - 1 - 10 May 2019 Subject: Management Discussion and Analysis for the period ended 31 March 2019 To: The President The Stock Exchange of Thailand SAAM

contraction of the Thai economy. The economic growth inclined to be slower than forecasted which was mainly due to the trade tensions and the weakening of economy worldwide. Particularly, the export sector has

Pte. Limited, paid for share capital totaling AUD 15 million or equivalent to Baht 342.97 million, in the proportion of investment of 100 percent. 1.3 The Expansion of Electricity and Steam Generation

in Thailand and business continuity under the Eastern Special Development Zone Act, 2 0 1 8 , to support the expansion of the Eastern Special Economic Zone (EEC) and connect the passenger

5.5% YoY. The increase of Operating Revenue was attributable to growth of industrial water’s sales volume mainly from newly Commercial Operation Date (“COD”) of 2 SPPs (GNLL2 and other SPP), existing

used in its business operation of One Sukhumvit 59. The Company plan for the investment in the real estate development project of the hotel and serviced apartment. In this regard, such transaction

will support the subsidiary business operation, business expansion of the Company and its long-term growth in the future as specified in section 8. (Translation) — 3 — 10. Opinions of the Audit Committee

not result in an increase in consumption to the same extent. Store expansion in the second quarter was in line with plan. The company opened two new stores: one HomePro S store at BigC Bangna in May

the Company and its subsidiaries as follows: Thailand Economic Q3/18 review and outlook Thailand economic in the third quarter of 2018 continued to grow from strong expansion of Thailand’s export sector