-1- AIT (VP-SEC) 003E/2023 16 February 2023 Subject: Management's Discussion and Analysis of Operating Results for the year 2022 and Q4-2022 To: The President of the Stock Exchange of Thailand

Discussion and Analysis for the year ended December 31, 2022 Attention: President The Stock Exchange of Thailand AI Energy Public Company Limited (“the Company”) would like to submit the financial statement

No: AH 02022023 February 28th, 2023 Subject: Management Discussion & Analysis (MD&A) for the financial statements of fiscal year 2022 ended as of December 31, 2022 To: The President The Stock Exchange

Microsoft Word - ACE MD&A YE22 - EN 1 No. ACE-ACC-1/2023 28 February 2023 Subject Management Discussion and Analysis for the year ended 31 December 2022 To President The Stock Exchange of Thailand

number that exceeds a specified number; (2) the mutual fund’s loan policy; (3) issuance of investment units, including a requirement that the management company will list on the Stock Exchange of Thailand

unitholders, otherwise shall assign to the Stock Exchange of Thailand or a licensed securities registrar pursuant to the Securities and Exchange Act B.E. 2535 (1992) to prepare such registration on behalf of

principal assets of mutual fund; "Exchange" means the Stock Exchange of Thailand; "major investor" means a person having any of the following characteristics: (1) persons who have acquired the initial units

Governance is an international standard adopted by many countries. The Stock Exchange of Thailand, for example, applied them to the making of  the SET Corporate Governance Guidelines for Listed Companies

otherwise specified in Clause 22, the preparation of the registration under this Chapter, an asset trustee may assign the Stock Exchange of Thailand or person who is authorized to provide service as the

, directors, executives, or the related persons must be passed through approval procedures as defined in , for example, by the articles of corporation, the regulation of the Stock Exchange of Thailand and SEC