optimise the efficiency of our overseas investments, which in turn is expected to deliver significant shareholder value. This includes progress in finding solutions to manage accounting treatment of currency

expertise of the company. In addition, solar plants have long-term power purchase agreements, which will continuously generate stable revenues which will support GPSC to have sustainable growth. • Progress

Discussion and Analysis 1. Significant events in the first Quarter of 2020 1.1. The progress in construction projects - Gangdong Fuel Cell Project (Gangdong), a project of Paju Energy Services Co.,Ltd. (Paju

@egco.com Page 2 Management Discussion and Analysis 1. Significant events in the Second Quarter of 2020  The progress in construction projects - Gangdong Fuel Cell Project (Gangdong), a project of Paju

late 2Q20 and revenue from sale of land and construction would be realized in accordance with accounting principal, upon transferrence and by progress of construction, respectively. During 3Q20, the ESSE

and the operation that is working accordance to the plan, to increase the proportion of renewable energy of the company. Progress of the Solar Power Plant Product in Thailand As of 16 January 2020, the

million Baht mainly from progress of construction including clarified water & total water solution projects, Bangpakong pump system upgrade project and Tubma Reservoir project; after depreciation and

ก ำลงักำรผลิตติดตัง้ (MW) 257 MW dc สดัส่วนกำรถือหุ้น (%) 80.0% SCOD 30 ม.ิย. 2562 สญัญำซ้ือขำยไฟฟ้ำ 214 MW ac / 20 ปี % ควำมคืบหน้ำ 87.5% Progress on track Progress on track Progress on track

Che (สปป. ลำว) ประเภทเช้ือเพลิง น ้า ก ำลงักำรผลิตติดตัง้ (MW) 15 MW สดัส่วนกำรถือหุ้น (%) 72.0% SCOD ไตรมาส 1 ปี 2562 สญัญำซ้ือขำยไฟฟ้ำ 15.0 MW / 25 ปี % ควำมคืบหน้ำ 92.6% 11 Progress on track Progress

title and location, the type of project, the target customers, the number of units, sale/rental space, project value, sale and construction progress, etc. 2.2 Marketing and competition (a) Describe the