Absolute Clean Energy Public Company Limited 140/6 ITF Tower 7th floor Silom road, Suriyawong, Bangrak, Bangkok 10500 No. ACE-ACC-1/2019 12 November 2019 Subject Management Discussion and Analysis

agreement, which the seller has pledged to the Kasikornbank PCL., under a contract of pledge dates May 18, 2017. Conditions to the repayment of the Company and WPS The seller and the subsidiary of the seller

and administrative expenses increased Baht 2 million or 7.3% in Q2/2019 to 8.0% in Q2/2020 due to increase in staff cost and selling expenses for new 10 subsidiaries. Finance costs The company had a

business. The company is able to maintain current customers, nevertheless, the plan is to clear out all of the remaining Inventory as soon as possible. The company, therefore, has initiated a contract

holders of digital tokens or real estate -backed initial coin offering (ICO). Meanwhile, the regulations have not yet extended to such fund raising method and a smart contract has not yet covered https

’ meeting No.1/2019 held on 20 February 2019. 3.4 The subsidiary company was sued as the defendant in black case no. Por 1430/2561 to Samut Sakhon Province Court for breach of contract and oblige for the

. Furthermore, the subsidiary company was sued as the defendant in black case no. Por. 1430/2561 to Samut Sakhon Province Court for breach of contract and oblige for the mortgage of land and buildings of the

the contract awarded with relatively high gross margin giving a positive result in overall picture. Cost of Sales for Supply and Maintenance The Company reports its cost of sales for supply and

authorized by the board of directors of the company to take the highest responsibility in managing the company, regardless of the title; (3) “institutional investor” means institutional investor under Section

directors of the company to take the highest responsibility in managing the company, regardless of the title; (3) “institutional investor” means institutional investor under Section 3 of Derivatives Act B.E