PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result for the Fiscal Year Ended December 31, 2017 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion

% and EBITDA of THB 143 million in this quarter was lower than the previous year by THB 68 million or 32%. The result was primarily from the lower profitability of methyl ester caused by a higher market

Business Acquisition Transaction is regarded as an acquisition of assets pursuant to the Notification of the Capital Market Supervisory Board No. TorJor. 20/2551 Re: Rules on Entering into Material

) Co., Ltd. (“WPS”), which is a company that is in printing business of newspapers, books and other printing material in the amount 42.25 million shares or 84.50% of registered ordinary shares of WPS

, decreasing -3.2%YoY, -0.8% QoQ through cost measures. As a result, EBITDA ( pre- TFRS16) was Bt19,139mn, flat YoY and decreased -2.2%QoQ while NPAT was Bt7,235mn, -6.7%YoY and +3.3%QoQ. In summary for 1H20

addition, the acquisition of assets mentioned above is the acquisition of assets according to the Notification of the Capital Market Supervisory Board No. TorJor 20/2551 Re: Rules on Entering into Material

, and minimum payment on TOT’s 2100MHz spectrum. In this MDA material, we present a financial income statement based on pre-TFRS for comparison with FY19. 2. In 4Q20, according to the Royal Decree No. 695

higher than the last year quarter of THB 165 million due to the strengthen in THB as compared to US dollar. There would be the material change in Q3 for the Balance Sheet structure of which expecting to

regard, the Transaction constitutes an acquisition of assets pursuant to the Notification of the Capital Market Supervisory Board No. TorChor. 20/2551 Re: Rules on Entering into Material Transactions

respect, information that is material to the shareholders’ consideration is as follows 1. Necessity and Details of the Transaction, Details of the Offering, Determination of the Offering Price