and Joint Ventures and Dividend excluded 1) Foreign Exchange Gain (Loss) and 2) One-Time Gain (Loss) items IPP  For 2018, 3 IPPs generated Baht 1,503.3 million of Normalized Share of Profit and

28,533.4 mm as of 31 December 2017, mainly from increase in retained earnings as Company’s performance during this period. Cash flow analysis 2017 2018 THB mm THB mm Net cash generated (used in) from

, mainly from increase in non-controlling interest in WHAUP after its IPO. Cash flow analysis Q2 2016 Q2 2017 THB mm THB mm Net cash generated (used in) from operating activities (618.0) 270.9 Net cash

from Power Business and Share of Profit from Investments and Dividend excluded 1) Foreign Exchange Gain (Loss) and 2) Adjustments of Revenue Levelization (TFRS 15) 4 IPP  For 1Q2019, 3 IPPs generated

analysis Q1 2018 Q1 2019 THB mm THB mm Net cash generated (used in) from operating activities (333.3) (23.1) Net cash generated (used in) from investing activities 2,056.0 109.2 Net cash generated (used in

Power Plants generated Baht 334.4 million of Normalized Share of Profit and Dividend, a 6.8% decrease from 3Q2017 mainly from GHECO-One had lower Availability Payment Rate compared with the same period of

fluctuations, and the increase in revenue from sale of electricity following greater irradiation. - Sales income SAAM Group’s income from sale of electricity is generated from a 2.0 MW solar power project in

hotels ; therefore, the Company’s net profit grew to 1,287 million Baht in 2018 versus 572 million Baht in 2017, increased 125% YoY. For the fourth quarter of 2018 (Q4’2018), the Company generated total

business generated THB 974m in 1Q19 or 156% increased from 1Q18. The acquisition of 6 Outrigger hotels on 12 June 2018 was a primarily result of the impressive growth rate. Nevertheless, the Company adopts

keys covering 5 countries – Thai, Maldives, Mauritius, Fiji, and United Kingdom. Hospitality business generated THB 779m in 2Q19 or 132% increased from 2Q18. The acquisition of 6 Outrigger hotels on 12