1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

, please contact Investor Relations Division of the Electricity Generating Public Company Limited at Tel: 662-998-5150-3 or Email: ir@egco.com Page 2 Management Discussion and Analysis 1. Power Industry and

. SIGNIFICANT EVENTS As of 14 March 2018, Electricity Generating Public Company Limited (“EGCO”) has completed the sale of its 311.44 million shares or 18.72% in East Water to Manila Water (Thailand) Co., Ltd at

its normal operation since 6 Februay 2017 after planned major maintenance  According to the Power Purchase Agreement (“PPA”) with Electricity Generating Authority of Thailand (“EGAT”), which based on

Baht 415.3 million of Share of Profit,  Resumes its normal operation since 6 Februay 2017 after planned major maintenance  According to the Power Purchase Agreement (“PPA”) with Electricity Generating

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