9.54 100.00 (0.11) (1.14) SAAM Energy Development Public Company Limited - 3 - - Cost of sales Cost of sales related to generation and distribution of electricity under SAAM-SP1 mainly includes (1

SAAM Energy Development Public Company Limited - 1 - 7 November 2019 Subject: Management Discussion and Analysis for the period ended 30 September 2019 To: The President The Stock Exchange of

COMPANY LIMITED ABATEK (ASIA) PUBLIC COMPANY LIMITED ABICO HOLDINGS PUBLIC COMPANY LIMITED ABJV COMPANY LIMITED ABP CATE (THAILAND) COMPANY LIMITED ABSOLUTE CLEAN ENERGY PUBLIC COMPANY LIMITED ABSOLUTE

), total revenue from sales amounted to THB 3,862 million, an increase of THB 235 million or 6.5%, driven by higher sales of the energy drinks for export markets and revenue growth in distribution of 3rd

%, divided into the proportion of domestic and overseas sales at the ratio of 55:45, respectively. Sales of energy drink product alone were THB 3,199 million, up by THB 54 million or 1.7%. The amount of which

details as follows; 1. SAFE Energy Holdings Company Limited (SAFE) that ECF Power Company Limited (ECF-P), as the subsidiary of the Company, holds 33.37 percent of total shares of SAFE. At the present SAFE

the first quarter of 2018, the company had a gain from the sale non-current assets held for sale in the amount of Baht 32.02 million. 1.2 The company’s income from energy business in Q1/2019 was Baht

economic slowdown, including the decrease in the demand for leather in the world market. Customers delay orders. 1.2 The company had revenue from the energy business group, which was generated from

PUBLIC COMPANY LIMITED ABICO HOLDINGS PUBLIC COMPANY LIMITED ABSOLUTE CLEAN ENERGY PUBLIC COMPANY LIMITED ADDTECH HUB PUBLIC COMPANY LIMITED ADVANCED CONNECTION CORPORATION PUBLIC COMPANY LIMITED ADVANCED

3.5% driven by higher sales of the energy drinks especially for export markets and greater sales growth from distribution of 3rd party’s products. Note: 1/ Energy Drinks and Sport Drinks 2/ Drinking