shown by the movement of the foreign currency 'Translation Adjustment' in the shareholders funds section of the balance sheet. There is no cash affect concerning its movement.    Exceptional Items None

 currency 'Translation Adjustment' in the shareholders funds section of the balance sheet. There is no cash affect concerning its movement.    Exceptional Items None Subsequent Event None Page 3 of 3

shown by the movement of the foreign currency 'Translation Adjustment' in the shareholders funds section of the balance sheet. There is no cash affect concerning its movement. Exceptional Items None

 balance sheet. There is no cash affect concerning its movement.    Exceptional Items None Subsequent Event None Page 3 of 3

 shareholders funds section of the balance sheet. There is no cash affect concerning its movement.    Exceptional Items None Subsequent Event None Page 3 of 3

 section of the balance sheet. There is no cash affect concerning its movement.    Exceptional Items None Subsequent Event None Page 3 of 3

balance sheet. There is no cash affect concerning its movement. Exceptional Items None Subsequent Event None Page 3 of 3

. There is no cash affect concerning its movement. Exceptional Items None Subsequent Event None Page 3 of 3

MD&A Q3Y2017 _E_ 13.11.17 Ratchaburi Electricity Generating Holding PCL Management Discussion and Analysis For the Three-month and Nine-month Periods Ended 30 September, 2017 Management Discussion

ended 30 September 2019 and 2018 are presented below. THB Mn % (1) THB Mn % (1) THB Mn % (1) THB Mn % (1) Sales of electricity 687.9 60.2 690.2 61.1 2,030.5 59.7 2,013.8 61.7 > Biomass Power Plants 658.5