detail, please contact Investor Relations Division of the Electricity Generating Public Company Limited at Tel: 662-998-5150-3 or Email: ir@egco.com Page 2 Management Discussion and Analysis 1. Significant

further detail, 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

% construction progress) 4. GLOW SPP Replacement Project According to the Energy Regulatory Commission (ERC) announced the purchase of electricity from Small Power Producers (SPP) for firm under the category of

% due to the small decrease in electricity and steam sales volume subject to the demand of industrial customers in each period. In addition, the natural gas prices increased while the Ft rate maintained

9% from Q2/2017. The increase in the profit is due to the rise in sales price resulted from the increase in Ft rate in Q3/2017. Also, the volume of electricity and steam sold at Rayong Central

follows; a. Advisory fee of THB 12 million b. Commission of not exceed 1 month of rental for providing new tenants of shops and mini shops with a contract period not less than 1 year c. Commission of not

2017, a Small Power Producer (SPP), BIC2 started COD and supplying electricity to EGAT. BIC2 has a capacity to produce 117 Megawatt of electricity and a capacity to produce 20 ton per hour of steam. Q3

slight decrease in purchase in the 5 years ahead from Small Power Producer (SPP) and Very Small Power Producer (VSPP) due to the sufficient amount of electricity reserve margin. However, this matter does

million. • Small Power Producer (SPP): The gross profit decreased by Baht 190 million as a result of the decrease in electricity and steam sales together with the increase in maintenance costs due to Glow

gas that exceed the 4% growth of revenue from electricity sales. • Very Small Power Producer (VSPP) and other: The gross profit decreased by Baht 8 million mainly due to the decreased in revenue from