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

continuous rise in electricity Ft rate since May 2017. CPN, meanwhile, achieved efficiency gains with the reduction in electricity unit consumption compared to last year. As a result, same- store utility cost

, remains qualified for listing on the SET The entry into such transaction is considered similar to the business of the Company as well as complements it in creating future revenue and profits, which is

listing on the SET The entry into such transaction is considered similar to the business of the Company as well as complements it in creating future revenue and profits, which is beneficial to the Company

sale volume and Ua Withya PCL has more revenue from its subsidiaries (as nature of business are selling agricultural products and distribution of electricity to Provincial Electricity Authority in Nakhon

PCL) has more sale volume and Ua Withya PCL has more revenue from selling electricity to Provincial Electricity Authority in Nakhon Ratchasima province and also more revenue from selling electricity of

the consolidated financial statements of the Company and its subsidiaries for the first quarter ended 31st March 2018. The Company reported consolidated net profits (attributable to equity holders of

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

to 239.95 million Baht in 2017. For the reasons mentioned above. The Company's consolidated financial statements the business profits for 2017 was loss 86.78 million Baht. The loss per share is 0.14

were recognized in amount of Baht 11.54 million. (3) Others income amount of THB 5.24 million, consisted of the share of profits from investments in associates amount of THB 2.98 million, and others