finished product increased from the move to expand transactions with its trade partners and introducing new products, under the company’s strategic plan to expand the business. Marketing Business Group

operating results from GLOW, together with the investment projects and projects that have been opened for commercial operation in 2019. The company is ready to move forward with the new organizational

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ended June 30, 2018 The Thai economy in the second quarter of 2018 gained further traction from the first quarter. The ongoing economic rebound was mainly driven by exports and tourism, whereas domestic spending and investment only gradually picked up. Still, the economy has yet to see strong across-the-board growth. The business sector remained challenged by new modes of competition...

Commission Hong Kong, 2016. Principles of Responsible Ownership. 11. The Council of Experts Concerning the Japanese Version of the Stewardship Code, 2014. Principles for Responsible Institutional Investors

Economic Ownership 48.0% SCOD 31 December 2019 PEA PPA 4.0 MW / 20 years % Progress 86.64% Progress on track B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis ABBREVIATION COD

sold 22,000,000 shares with an option to repurchase such shares to a third-party where the ownership over such shares was already transferred to the purchaser. (2) Number of shares from the conversion of

with an option to repurchase such shares to a third-party where the ownership over such shares was already transferred to the purchaser. However, the purchaser has not registered the name change with

Experience, representing 32.5 percent of the registered capital of Hero Experience. - 32.5 percent rights to dividend payment from the business operation. - 32.5 percent voting rights. - 32.5 percent ownership

, representing 32.5 percent of the registered capital of Hero Experience. - 32.5 percent rights to dividend payment from the business operation. - 32.5 percent voting rights. - 32.5 percent ownership and economic

2616 - 37.5 percent ownership and economic interest in Hero Experience. 8. Criteria to determine the value of consideration The Company appointed the Sims Property Consultant Co., Ltd. (the “Sims”), the