share. This is because Planet has recently established on 19 December 2017 which has yet to operate and so generating no commercial income; it has been viewed, therefore, that the purchase price is the

. According to the Power Purchase Agreement (“PPA”) with Electricity Generating Authority of Thailand (“EGAT”), which based on the principle that annual Availability Payment (“AP”) will not be lower in year of

Baht or 21.9 percent, while debt collection and other services for the six-month of 2019 were equal to 1,476.4 million Baht or 25.8% increase due to JMT's subsidiary has succeeded in generating revenue

, PBSB is now a subsidiary of MACO, and the consolidation of its financial performance has also begun in this quarter. INDONESIA – GENERATING PROFIT SINCE THE FIRST COMMERCIALISATION IN APRIL 2019

50, 000 shares, Baht 100 per share Characteristic of the project Aukkarawat power plant engage in the business of generating and selling electricity with the Provincial Electricity Authority (PEA

Cogeneration Company Limited (BIC) and Nava Nakorn Electricity Generating Company Limited (NNEG) in Q2/2020 due to maintenance shutdown of both plants in Q2/2019. • Non-controlling interests decreased by THB 558

percent shareholding proportion each, NWR-SBCC Joint Venture, to carry out a soil and coal extraction and transportation at Mae Moh mine of the Electricity Generating Authority of Thailand (“EGAT”) in

Transactions; “brownfield project” means an infrastructure business that the construction for which has been completed and is already generating cash flow; “greenfield project” means an infrastructure project

Xayaburi Hydroelectric Power Project, for a period of 31 years from the Commercial (Translation) 5 Operation Date, for sale of electricity as produced to the Electricity Generating Authority of Thailand

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