in the first quarter of 2019, compared to the previous quarter. The trade war between China and the US has weighted on the global economy over the past year in which Thailand has been affected

generation, comparing to the same period of previous year, caused by a scheduled maintenance in Q1/2017. Additionally, interest expense was decreased. SEGSD: Unit : Million Baht Quarter 1 Change Increase

analysis for the year ending 31 December 2019, as follows: Business Overview In 2019, the Group's total revenue growth (TSSG) increased by 6.1% compared to the previous year driven mainly by new branch

decrease in electricity profit .This was resulted from lower electricity generation, comparing to the same period of previous year, caused by an unplanned outage in Q2/2018. SEG: Unit : Million Baht Quarter

longer maintenance period, comparing to the same previous year. XPCL: Unit : Million Baht Quarter 1 Change Increase (Decrease) 2020 2019 Amount % Electricity revenue 241 - 241 100% Other income 1 - 1 100

decreased by Baht 77 million mainly due to a decrease in electricity revenue, caused by the lower amount of water, comparing to the same period of previous year. Page 10 Quezon (Include PEPOI and QMS): Unit

comparison to the same period of the previous year. Executive Summary 2 Overall Operating Results of the Company in Q4/2020 (THB million) YoY YE Operating Revenue 283 207 (27%) 1,194 768 (36%) Gross Profit 181

(e); (2) bonds having high-risk or complex characteristics including: (a) hybrid securities with debt repayment period longer than 270 days as from the date on which hybrid securities have been issued

including: (a) hybrid securities with debt repayment period longer than 270 days as from the date on which hybrid securities have been issued. In addition, such hybrid securities shall have one of the

Board of Directors of Company approved this transaction, there was the resolution on Non-proportional capital increase in subsidiary arising from conversion of debt to equity which the highest value is