gas-fired combined cycle cogeneration power that commenced COD on February 1, 2018. It has an installed capacity of 133 MW and sells electricity to EGAT 90 MW under a 25-year PPA. The Project was able

before Interest, Taxes, Depreciation and Amortization EDL = Electricite Du Laos EGAT = Electricity Generating Authority of Thailand ERC = Energy Regulatory Commission EPC = Engineering, Procurement and

Energy Services Co.,Ltd. (Paju ES) (EGCO holds a 49.00% ownership interest), located in Gangdong-gu, Seoul, South Korea with a capacity of 19.80 MW. Gangdong will sell electricity to Korea Electric Power

level, comparing to the same period last year, leading to higher electricity generation. Additionally, interest expense was decreased. Page 8 KEGCO  Khanom Power Plant Unit 4: Unit : Million Baht Quarter

EBITDA Earnings before Interest, Taxes, Depreciation and Amortization EDL Electricite Du Laos EGAT Electricity Generating Authority of Thailand ERC Energy Regulatory Commission EPC Engineering, Procurement

Bank COD Commercial Operation Date EBITDA Earnings before Interest, Taxes, Depreciation and Amortization EDL Electricite Du Laos EGAT Electricity Generating Authority of Thailand ERC Energy Regulatory

ES) (EGCO holds a 49.00% ownership interest), located in Gangdong-gu, Seoul, South Korea with a capacity of 19.80 MW. Gangdong will sell electricity to Korea Electric Power Corporation (KEPCO), the

LIMITED Management’s Discussion and Analysis ABBREVIATION COD Commercial Operation Date EBITDA Earnings before Interest, Taxes, Depreciation and Amortization EDL Electricite Du Laos EGAT Electricity

million Baht mainly due to lower electricity generation, comparing to the same period of previous year. This is caused by the floods occurred in July and August 2018. Meanwhile, interest expenses and

Date EBITDA Earnings before Interest, Taxes, Depreciation and Amortization EDL Electricite Du Laos EGAT Electricity Generating Authority of Thailand ERC Energy Regulatory Commission EPC Engineering