10.77 0.96% 44.43 2.94% 44.43 2.94% -75.76% Total Revenue 1,123.31 100.00% 1,512.27 100.00% 1,512.27 100.00% -25.72% For the Year 2019 (Million Baht) Revenue structure + (-)2018 3 | MANAGEMENT DISCUSSION

PERFORMANCE REVENUE STRUCTURE ABBREVIATION & OUR PROJECTS EXECUTIVE SUMMARY FINANCIAL PERFORMANCE FINANCIAL POSITION PROGRESS OF PROJECTS UNDER CONSTRUCTION 9M'2016 9M'2017 % change million Baht million Baht y

-q (3.27 Baht/KWh in 6M’2018 and Q2’2018) which is in line with the change in Ft – the tariff announced by ERC. FINANCIAL PERFORMANCE REVENUE STRUCTURE ABBREVIATION & OUR PROJECTSEXECUTIVE SUMMARY

Thailand in Q1’2020 increased 0.3% y-on-y to 3.31 Baht/kWh which is in line with the Ft charge announced by the ERC. FINANCIAL PERFORMANCE REVENUE STRUCTURE ABBREVIATION & OUR PROJECTSEXECUTIVE SUMMARY

Q1’2018 (3.16 Baht/KWh in Q1’2017 and 3.27 Baht/KWh in Q4’2017) which is in line with the change in Ft – the tariff announced by ERC FINANCIAL PERFORMANCE REVENUE STRUCTURE ABBREVIATION & OUR

0.9% q-on-q (3.28 Baht/KWh in 9M’2018 / 3.30 Baht/KWh in Q3’2018) which is in line with the change in Ft – the tariff announced by ERC. FINANCIAL PERFORMANCE REVENUE STRUCTURE ABBREVIATION & OUR

Baht/KWh in Q4’2018) which is in line with the changes in Ft charge – the tariff announced by the ERC. FINANCIAL PERFORMANCE REVENUE STRUCTURE ABBREVIATION & OUR PROJECTSEXECUTIVE SUMMARY FINANCIAL

was stable y-on-y in 6M’2020 at 3.31 THB/kWh which is in line with the Ft charge announced by the ERC. FINANCIAL PERFORMANCE REVENUE STRUCTURE ABBREVIATION & OUR PROJECTSEXECUTIVE SUMMARY FINANCIAL

257.35 100.00% 353.79 100.00% (96.44) -27.26% Revenue from transmission and telecommunication tower Q1 For Quarter 1 Year 2020 (Million Baht) Revenue structure + (-) 3 | MANAGEMENT DISCUSSION AND ANALYSIS

is success in increasing rent and service income continuously, the revenue structure will be more stable in the long term. In additional to rent and service income, the Company recorded property