- ร่าง - 1 Nov 11, 2019 Subject Management Discussion and Analysis for the period of three months and the period of 1st half ended 30th September 2019 To President of the Stock Exchange of Thailand

million in Q2’2018 based on the benefits transferred from the business operation of ABP1 and ABP2;  Unrealized loss on exchange rate from financing activities: A 136.0% increase y-on-y from unrealized gain

-off of deferred financing fee and a payment of prepayment fee of project financing facilities. ► Offset by a 79.6% increase in unrealized gain on exchange rate from financing activities relating to our

of ABP1 and ABP2; and  Unrealized gain on exchange rate from financing activities: A 3.7% decrease y-on-y and a 116.7% increase q-on-q to Baht 466 million in Q1’2018 due to an appreciation (gain) and

there was a deferred financing fee write-off from refinancing in May 2019. Gain (Loss) on Exchange Rate • A THB 202 million gain on exchange rate in Q2’2020 was from from balance of US dollar EPC

activities (9,015.14) Net cash from financing activities 3,789.82 Effect of exchange rate changes on cash and cash equivalents 464.54 Net cash increase during the year 2,407.79 4.1 Net cash from operating

operating activities 5,589.24 Net cash used in investing activities (4,749.60) Net cash used in financing activities (7,434.14) Effect of exchange rate changes on cash and cash equivalents (183.59) Net cash

362.66 Cash Flows from (used in) Investing Activities (72.35) (29.09) Cash Flows from (used in) Financing Activities (320.62) (332.77) Unrealized exchange gain (loss) of cash and cash equivalents 0.00 0.03

Flows from (used in) Operating Activities 515.06 399.65 Cash Flows from (used in) Investing Activities (149.98) (73.41) Cash Flows from (used in) Financing Activities (351.67) (307.20) Unrealized exchange

an accretion cost from a discounting of long-term construction payables based on a requirement of accounting standards. • Unrealized loss on exchange rate from financing activities in Q1’2020: This