profit attributable to equity holders of the parent company of 838.86 million Baht, decreased by 42.17 million Baht or 4.79%. Income statement (Million Baht) For the three-month period For the nine-month

LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR 2017 4 Gross Profit of Raw Water Business for 2017 was 1,516.80 million Baht, decreased by 29.24 million Baht or 1.89% compared to the year 2016 due to the

) THB 3,895 mill ion | 69% Gross Profit 5,650 Very Small Power Producer (VSPP) THB 245 mill ion | 4% Independent Power Producer (IPP) THB 1,511 mill ion | 27% GPSC - Q2/2020 Management Discussion and

(6,915.0) (35.8%) Total Cost 11,414.6 5,001.5 (6,413.1) (56.2%) Gross Profit/2 7,446.9 6,475.5 (971.4) (13.0%) Net Profit 2,898.2 3,266.4 368.3 12.7% /1 Including other income and share of profit from

Page 1 Date 25 February 2020 Re: Management Discussion & Analysis for the Year Ended 31 December 20020 To The President of the Stock Exchange of Thailand (SET) CHAOPRAYAMAHANAKORN PUBLIC COMPANY

equivalent to 60.9% of total sales, lower than Q2’2016, which had total cost of sales 62.7% of total sales due to efficient cost management and higher cost efficiency from better utilization of production

Ref. No. 1711/056EN November 8, 2017 Subject Management Discussion and Analysis for Q3/2017 (Ending September 30, 2017) To Director and Manager of the Stock Exchange of Thailand Ubis (Asia) Public

-9320 1 Ref: PLC 2017/017 November 16, 2017 Subject: Management Discussion and Analysis Quarter 3 Ended 30-September-2017 (Additional) To: The President of the Stock Exchange of Thailand Panjawattana

which had been audited by the independent auditor as follows: Consolidated financial statements The Group Company reported profit attributable to owners of the Company for the year 2018 in the amount of

1 Translation CEN 004-2019 February 27, 2019 Subject Management Discussion, analysis and business operation of year 2018 To The Manager and President The Stock Exchange of Thailand Yearly business