be cautious upon 1) Crude oil and commodity prices trend - recovering trend will aid Thailand's inflation to rise which in turn will result in rise of farm income and ease Thai Baht appreciation via

mainly due to a decrease of Availability Payment (AP) according to the PPA and Baht appreciation, comparing to the same period of the previous year. Page 14 EGCO: Unit : Million Baht Quarter 3 Change

exchange for the 3rd quarter of 2017 amounting to THB 268 million (Separate: THB 165 million). The gain is attributed to the appreciation of the Thai Baht versus the US dollar.  Selling expenses

% Baht appreciation against U.S. dollar during 2017 but only 0.7% change in the exchange rate during 2018. • Unrealized loss on exchange rate from financing activities q-on-q: From unrealized gain of Baht

million from the end of December 2018, due to the effect of the Baht’s appreciation on the Bank’s senior unsecured debentures issued in foreign countries. Shareholders’ Equity Shareholders’ equity

Baht appreciation during 6M/2018 relative to 6M/2017.  EBITDA margin was slightly lower to 26.9% in Q2’2018 because selling price per unit to IUs remain unchanged, while gas cost is higher. Normalized

appreciation of the Thai Baht versus the US dollar (Separate: Baht 684 million). 4. Statement of financial positions Total Assets As of 31 December 2019, the consolidated total assets amounted to Baht 26,400

unrealized gain of THB 170 million in Q1’2019 from THB appreciation against US dollar during that period. Tax Expense • Tax expense increased 10.2% y-on-y in Q1’2020 to THB 54 million primarily attributable to

modify or change the conditions already specified. Division 2 Supervision of Business Operation ________________ SECTION 57 In managing a trust, a trustee shall have appropriate operating systems to: (1

circumstance as provided in the first paragraph, the SEC may modify or change the conditions already specified. Division 2 Supervision of Business Operation ________________ SECTION 57 In managing a trust, a