Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 Translation UWC 031/2560 August 10, 2017 Subject : Management Discussion and Analysis for quarter 2-2017 To

Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 1 Translation UWC 023/2562 August 16, 2019 Subject : Management Discussion and Analysis for quarter 2-2019

Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 Translation UWC 028/2018 August 10, 2018 Subject : Management Discussion and Analysis for quarter 2-2018 To

from Ichinoseki Solar Power 1 GK (ISP1) and the decrease in revenue of solar cell implementation service from Combine Heat and Power Producing Company Limited (CHPP) following the existing projects. The

million mainly due to the decreased in revenue from Combine Heat and Power Producing Company Limited (CHPP) by Baht 19 million as a result of the lower revenue from solar cell implementation; despite the

due to the decreased in revenue from solar cell implementation service from Combine Heat and Power Producing Company Limited (CHPP) as well as the decrease in revenue from chilled water following the

solar cell implementation service from Combine Heat and Power Producing Company Limited (CHPP) as well as the increase in maintenance cost leading to a fall in gross profit. The gross profit of the

Construction contract service (EPC) income of Combine Heat and Power Producing Company Limited (CHPP) as well as the increase in selling electricity of Ichinoseki Solar Power 1 (ISP1). However, the cost of sales

composites, such as wadding, insulation, filtration, automotive acoustic insulation material and other products where heat is used to bond the fibers. The HIAM plant is expected to start operations in 2019

Plants and IRPC Clean Power (IRPC-CP) together with profit realization of Ichinoseki Solar Power 1 GK (ISP1) due to stable weather condition compared to Q1/18 in which there had been heavy snow in Japan