. 2.2 Additional Investments in Joint Ventures and Associated - On March 14, 2018, EGCO divested all 18.72% shares in Eastern Water Resources Development and Management Public Company Limited to Manila

+ Financial Lease (IPP) Electricity (SPP+VSPP) Steam QoQ -1% YoY -9% Industrial & chilled water, nitrogen and others Cost of Sales (THB million, %) QoQ -4% YoY -11% Executive Summary Small Power Producer (SPP

exports to China fell from the severe cold weather.  Export CMG sales decreased by c.35% as the Company has implemented new preventive measures since Q2/2017 to control the quality of coconut water

was mainly from higher water demand from completion of COD of a SPP since 2 January 2019. Gross profit from utilities services was THB 264.5 mm during the first quarter of 2019, which increased by THB

materials Others Cost of sales and services (exclude depreciation and amortization) (THB million) Industrial and chilled water 33% 17% 54% 71% 5% 5%5% 3%3% 4% 8,471 8,798 1H/60 1H/61 31% 13% 20% 56% 75% 68% 5

, which increased by 7.8%, compared to the same period of last year, mainly from 4% increasing in sale volume of industrial water. • Share of Profit from Investments in Associates from Power Business was

new project awarded both in 2019. Investment project on hand as ended 31 December 2019 The progress of 2 ongoing investment projects are as follows: 1. Water Supply Investment Project for Chiang Mai

been completed in 2019. Investment project on hand as ended 30 June 2020 The progress of 2 ongoing investment projects are as follows: 1. Water Supply Investment Project for Chiang Mai Municipality: It

which are fixed cost still exist and not variable to the income such as animal feed, utilities, water-electricity bill. Therefore, the company has managed to reduce some unnecessary expenses during the

of last year, For during the first 9 months was THB 1,690.2, which increased by 6.9%. The increase for 3-month and 9-month period was mainly from higher water demand from completion of COD of a SPP