PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result of Quarter 3 Year 2017 Ended September 30, 2017 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s

and paid-up ordinary shares of TBSP. Consequently, the Company has rights or interests in the returns of TBSP and able to use power to direct the activities that has significant effect to the amount of

lease under a Power Purchase Agreement 104.5 104.9 106.3 1.3% 1.7% 206.9 211.2 2.1% Cost of sales and services (1,191.7) (1,121.4) (1,168.5) 4.2% (1.9%) (2,466.2) (2,289.9) (7.1%) Gross profit 421.6 350.0

year ended 2019 amounted 258.7 million Baht compared same period last year amounted 266.7 million Baht, decreased in amount of 8.0 million Baht or 3.0%. Service income has decreased due to the current

Covid-19 pandemic, which severely affected purchasing power and demand globally. Tourism sector faced a catastrophe, started heavily in March, after most of the countries announced travel restrictions

or equivalent to 60 percent of the total shares in Oversea Green Energy Company Limited which invests in the project management service of Iwaki-Fukushima and Ueda Solar Power Projects in Japan to the

4.40% QoQ as a result of ongoing repair and maintenance of the overall power generator which gradually improve power supply capacity and escalate power to grid.  Revenue from sale of industrial

delays in budget disbursement, while external factors such as global conflicts affecting oil prices and the purchasing power of our trade partners have also exerted significant influence. Additionally, the

Operation Date EBITDA Earnings before Interest, Tax, Depreciation and Amortization FX Foreign Exchange Rate IPP Independent Power Producer PPA Power Purchase Agreement SPP Small Power Producer Projects

Limited (SAFE) which is held 33.37 percent of total shares by ECF Power Company Limited (ECF-P) and ECF-P is the subsidiary held 99.99 percent by the Company. At the present, SAFE gains profit from biomass