Foreign Exchange gain of Baht 684 million. Significant events during the quarter are - - Restructuring of Debt of Baht 4,195 million to Equity and waiver of interest as above, thereby increasing the Profit

% Loss on impairment of assets 42 - 100% Provision for a guarantee of subsidiary - - Witholding tax write-off 38 - 100% Loss on devaluation of inventories (Reversal of) 81 0 100% Gain from debt

(%) 9.9% 9.9% 12.2% 7.7% % NNP - Owner of the parent 59.4% 61.3% 64.2% 56.8% Remark: * Normalized net profit = Net profit – Unrealized gain / (loss) from FX – Non-recurring income / (expense) B.GRIMM POWER

(exclude gain on change in shareholders' equity of associates) varied with the normal operating results of the Company. V Profit for the period (Unit: Million Baht) Third quarter 9-month period 2017 2016

0.33 Million Baht or 93.86% decrease from the same period last year. This was the result of received from associated companies is Thai Takaya Co.,Ltd. 0.30 Million Baht. 4. Gain on sales of assets 1.74

% Operating profit 10,731 10,063 10,103 -5.9% 0.4% 21,610 20,165 -6.7% Net foreign exchange gain (loss) 106 84 252 137% 200% (23) 336 -1569% Other income (expense) 76 221 107 41% -51% 324 328 1.2% Finance cost

: * Normalized net profit = Net profit – Unrealized gain / (loss) from FX – Non-recurring income / (expense) B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis 2017 2018 % change Q3’2018

Analysis Quarter 1 Ending 31 March 2018 Highlights Q1/2018, the Company and subsidiary’s total net profit equals Baht 495 million, increased by Baht 1,410 million comparing with previous quarter. Total

claim 50 - 100% Provision for a guarantee of subsidiary - - Witholding tax write-off 26 - 100% Loss on devaluation of inventories (Reversal of) 41 123 (201%) Gain from debt restructuring (0) (16) (16998

Providing Guarantee for Insured Mutual Fund by Securities Company in the Category of Securities Finance Business (No. 2)