Company has already estimated allowance for doubtful accounts at 50% of the total outstanding balance. Therefore, this period the Company has estimated additional doubtful accounts for the remaining

2016 and 2017 were Baht 127 million and Baht 151.1 million, respectively, which grew at a rate of 18.98% due to increasing number of non-capitation patients, the growth of average revenue per visit for

first six months of 2017 was at 7.89%, higher than 6.83% for the same period in 2016. This is because the additional construction work of Xayaburi project has lower gross profit margin than the main

respectively. The increase thereof primarily resulted from good operating. In addition , shareholders' equity as at 30 June 2017 was quite high since in the six-month period of 2017, the Company increased its

increased by 14% yoy in parallel with hospital revenue. However, the cost increase was at lower rate than revenue increase. Likewise, 3Q17 hospital cost increased by 18% yoy lower than revenue growth. As a

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

(Thailand) Public Company Limited (“Company”), hereby report the resolutions passed the related transactions with the related companies (Details as attachment) at the meeting of the Board of Directors No.2

shows a higher gross profit margin than other businesses of the group. However, the group began to recognize revenue since January 2017 at the generating capacity of 16.47 MW. Selling and administration

Tel. 02-816-9315 Fax. 02-816-9315 #444 Liabilities The company’s total liabilities as of 31 December 2016 and 2017 totaled THB 311.1 MB and THB 499.7 MB respectively. As at 31 December 2017, the

. However, the cost increase was at lower rate than revenue increase. Likewise, 4Q17 hospital cost increased by 10% yoy lower than revenue growth. As a result, gross margin improved to 30% in 2017 from 28