Baht 4.6 million. 4 Gross Profit and Gross Profit Margin Q1-2021 Q1-2022 THB Mn THB Mn THB Mn % Biomass Power Plant 239.0 263.2 24.2 10.1% Natural Gas Power Plant 136.8 140.3 3.5 2.6% Municipal Solid

municipal solid waste power plant increase for the amount of Baht 26.7 million which lead to the overall slightly decrease in gross profit 9M YoY. Gross profit margin decrease 2.7% QoQ from 28.3% to 25.6

year 2021. Gross profit margin increase 0.1% QoQ from 25.6% to 25.7%, mainly derived from the increase in gross profit margin of municipal solid waste power plant as the result from the power plants had

of 2022. 4 Gross Profit and Gross Profit Margin Q2-2021 Q1-2022 Q2-2022 6M-2021 6M-2022 THB Mn THB Mn THB Mn %QoQ %YoY THB Mn THB Mn %YoY Biomass Power Plant 259.3 263.2 257.3 (2.2%) (0.8%) 498.3 520.5

439.4 million. The increase of Baht 11.5 million, due to Municipal Solid Waste Power Plant in Krabi which started its commercial operation in late December 2020. Gross Profit Margin for Q1/2021 compared

Power Plant 3.0 3.0 - - Gross Profit by Segment 466.2 350.0 (116.2) (24.9%) Gross Profit Margin Quarter 1 Quarter 1 Change (Unit: %) 2023 2024 % Biomass Power Plant 27.8 22.6 (5.2) Natural Gas Power Plant

mainly derived from municipal solid waste power plant in Krabi which started its commercial operation in late December 2020. Gross profit margin decrease 2.2% YoY from 36.0% to 33.8% mainly derived from

UNDER CONSTRUCTION EXECUTIVE SUMMARY 1 B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis Sales and service income, EBITDA, and NNP in 2017 hit record high; EBITDA margin enhanced

Gross Profit Margin Q3-2019 Q2-2020 Q3-2020 9M-2019 9M-2020 Change THB Mn THB Mn THB Mn %QoQ %YoY THB Mn THB Mn %YoY Biomass Power Plant 250.1 263.6 291.4 10.5% 16.5% 679.2 798.6 17.6% Natural Gas Power

Profit and Gross Profit Margin Q2-2020 Q1-2021 Q2-2021 6M-2020 6M-2021 Change THB Mn THB Mn THB Mn %QoQ %YoY THB Mn THB Mn %YoY Biomass Power Plant 263.5 239.0 259.3 8.5% (1.6%) 507.3 498.3 (1.8%) Natural