PowerPoint Presentation Management’s Discussion and Analysis (MD&A) For the Financial Result for the Fiscal Year Ended December 31, 2019 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS MD&A Q1/2020 PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1/2020 After fully completed the

25-year Power Purchase Agreement (PPA) with the tariff of USD 6.5 cent per kWh. The project was able to achieve COD as scheduled in PPA, and construction cost is in line with the budget approved. Move

DCORP 027/2018 Date 13 March 2018 Subject Board of Directors’ meeting resolution regarding the operation of the biogas power plant project of Aukkrarawat Plant Renewable Energies Co., Ltd. (“Aukkrarawat

DCORP 020/2018 Date 27 February 2018 Subject: Board of Directors’ meeting resolution regarding the operation of the biogas power plant project of Aukkrarawat Plant Renewable Energies Co., Ltd

income. The income base has been expanded to include rental property business as it is one way to efficiently manage the Company’s assets while purchasing power is decreasing as well as to reduce risks

No. BGRIM 2/2019 January 15, 2019 Subject: Additional Investment in Nam Che Hydro Power Co., Ltd. Attn: President The Stock Exchange of Thailand On January 14, 2019, the Board of Directors’ Meeting

power plant at Baht 142.91 million, or 41.66 %. The increase of revenue from power plant comes from the 5 MW Prachinburi Power Plant at Baht 38.12 million and the 9.99 MW Kyotamba power plant in Japan at

Refinery & Trading Business Group 15 Marketing Business Group 17 Power Plant Business Group 19 Bio-Based Products Business Group 21 Natural Resources Business Group 23 Statement of Financial Position 26 Cash

Section 104 Securities and Exchange Act B.E. 2535 Section 104. A securities company shall appoint directors or managers or enter into an agreement with other persons, giving the power, either in