10.6% 25.1% 3,862.1 4,766.5 23.4% Revenue from finance lease under power purchase agreement 104.9 95.3 109.4 14.8% 4.3% 305.7 307.0 0.4% Cost of sales and services (971.2) (1,174.0) (1,350.7) 15.1% 39.1

) the full period contributions from 820 MW expansions in last year and the acquisition of 123 MW Angthong Power in March 2020, 2) continued expansion of industrial user base with 26 MW PPA from new

increase THB 1.29 million 1.2) Revenue from selling of electricity increase THB 1.52 million or 100% due to in year 2017 Solar Power Project on Rooftop (Solar Rooftop) of Bangpakong Solar Power Co., Ltd

statements Q1-2022 Q1-2023 THB Mn THB Mn THB Mn % Sales of goods and services 1,518.7 1,638.2 119.5 7.9% Revenue from finance lease under power purchase agreement 102.3 102.4 0.1 0.1% Cost of sales and

1,705.4 1,735.6 30.2 1.8% 5,315.9 6,502.1 1,186.2 22.3% Revenue from finance lease under power purchase agreement 102.3 95.3 109.4 107.9 (1.5) (1.4%) 411.0 414.9 3.9 0.9% Cost of sales and services (1,149.4

PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result for the Fiscal Year Ended December 31, 2017 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion

Group”) as follow: Consolidated financial statements Q1-2021 Q1-2022 THB Mn THB Mn THB Mn % Sales of goods and services 1,214.9 1,518.7 303.8 25.0% Revenue from finance lease under power purchase

2.8% Revenue from finance lease under power purchase agreement 95.3 102.4 104.5 2.1% 9.7% 197.6 206.9 4.7% Cost of sales and services (1,174.0) (1,274.4) (1,191.7) (6.5%) 1.5% (2,323.4) (2,466.2) 6.1

• There are currently 4 main projects that are under construction including: - Xayaburi Power Company Limited (with 99.4% construction progress) - Rayong Central Utility Plants Expansion Phase (CUP-4) (98.2

impairment of power plant under construction of SAAM Solar Power Two Company Limited, (2) increase in employee and management expenses from new hires supporting business expansion, and (3) increase in