MD&A Q3Y2018 (E) - 13.11.18 Ratchabur i Electr icity Generating Holding PCL Management Discussion and Analysis For the Three-month and Nine-month Per iods Ended 30 September , 2018 Management

purchase agreement to acquired 34.00% of total issued shares in Duong River Surface Water Plant Joint Stocks Company in Vietnam on 7 August 2019. The total value of transactions is VND 2,073.19 Billion

contract of 3.9 MW in 4Q2019, total accumulated newly signed contract in 2019 were 21.3 MW  WHAUP (SG) 2DR PTE. LTD, a subsidiary of WHAUP signed share purchase agreement to acquired 34.00% of total issued

established Saha Advance Network Co., Ltd. (SAN), a joint venture with Saha Pathana Inter-Holding Plc, with investment of Bt21mn for 70% stake. SAN will provide fibre optics infrastructure service for SPI’s

includes (a) the Issuer’s directors, (b) key executives, and (c) any other such equivalent person as directors, managers or persons holding the four highest positions on the management level below the

details of conditions or process any necessary matters as regard the Acquisition Transaction of FKRMM including the signing of the Agreement, memorandums or any documents and liaison with government

บริษัทที่ประกอบธุรกิจโดยการถือหุ้นในบริษัทอื่น (holding company) ให้ระบสุัดส่วนมูลค่าการลงทุนรวมในบริษัทท่ีประกอบธุรกิจหลัก1 และเปรียบเทียบกับขนาดของบริษัทตาม หลักเกณฑ์ท่ีเก่ียวข้อง2 ทั้งน้ี หากสัดส่วนดัง

its subsidiaries 4/ EBITDA from Bangchak Biofuel Co., Ltd., Bangchak Bioethanol (Chachoengsao) Co., Ltd., Ubon Bio Ethanol Co, Ltd., and BBP Holding Co., Ltd. 5/ EBITDA from Nido Petroleum Limited 6

financials due to holding segment 3Core EBITDA is Reported EBITDA less Inventory gains/(losses) 4Core Net Profit is Reported Net Profit less Inventory gains/(losses) one-time extraordinary items 5Operating

impetus to the earnings of the Company in the forthcoming quarters. In another meaningful development, on 10 October 2017, IVL announced that it has entered into an agreement to acquire DuPont Teijin Films