finance lease under power purchase agreement 102.3 103.2 102.9 102.0 (0.9) (0.9) 410.4 417.0 (6.6) (1.6) Revenue from construction under a concession arrangement - 68.5 21.2 14.9 (6.3) (29.7) 104.6 - 104.6

hold NDR’s ordinary shares for 20.31% of paid-up Capital and appoint the representative as NDR’s director even though the representative of CRSB is not an executive who controls power in normal operation

hold NDR’s ordinary shares for 20.31% of paid-up Capital and appoint the representative as NDR’s director even though the representative of CRSB is not an executive who controls power in normal operation

not an executive who controls power in normal operation of NDR. Therefore, this transaction is categorized as connected transactions regarding to the Capital Market Supervisory Board Announcement

income, and the lagging recovery in household purchasing power. Regarding Thai monetary policy, the Bank of Thailand’s policy rate is expected to stay at a low 1.50 percent for the entirety of 2017 through

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Page 2 Management Discussion and Analysis 1. Significant events in the second Quarter of 2019 1.1 The progress in construction projects - Xayaburi Project, a project of the Xayaburi Power Company Limited