, and a slowdown in LED replacement energy saving programs from both Government and Private sectors. Moreover, Wholesales/Retails sales down was strongly affected by a flood of highly competitive

services consists of cost of sales from electricity generation and distribution and costs of services and rental from provision of services and development of renewable energy projects. For the year 2018

) (0.36) (0.21) (81.45) SAAM Energy Development Public Company Limited - 2 - Revenue Total revenues from operation of SAAM Group consist of (1) revenues from provision of service and rental including the

tower, design and distribute steel structure according to the drawing, power distribution and heat energy business, construction and tunneling contractor and distribution of industrial products. In the

Energy Absolute Public Company Limited (EA), the issuer of EA bonds, will convene a bondholders’ meeting electronically on 27 August 2024 at 10.00 hours for three tranches of EA bonds (i.e

0.87% Cost of services and rental – provision of services and development of renewable energy projects 3.25 68.32% 3.11 67.51% 0.15 4.70% Total 4.76 100.00% 4.60 100.00% 0.16 3.45% - Cost of sales Cost

– sale of electricity 3.03 32.13 3.02 31.67 0.01 0.30 Cost of services and rental – provision of services and development of renewable energy projects 6.40 67.87 6.52 68.33 (0.12) (1.81) Total 9.43 100.00

SAAM Energy Development Public Company Limited - 1 - 7 November 2019 Subject: Management Discussion and Analysis for the period ended 30 September 2019 To: The President The Stock Exchange of

18.18% SAAM Energy Development Public Company Limited - 2 - Revenue Total revenues from operation of SAAM Group consist of (1) revenues from provision of service and rental including the procurement of

20.83% SAAM Energy Development Public Company Limited - 2 - Revenue Total revenues from operation of SAAM Group consist of (1) revenues from provision of service and rental including the procurement of