-1- AIT (VP-SEC) 017E/2020 May 11, 2020 Subject: Management's Discussion and Analysis of Operating Results for Q1-2020 To: The President of The Stock Exchange of Thailand Summary of Operations Q1

operational systems to scale up franchise operations, while the franchise opportunities are expected to be ready by end of May 2020. Q1/2020 Management Highlights Cost-saving initiatives have been carried out

Estimated Transaction Date Estimated by Q1/2018 (as originally approved by the Company’s shareholders meeting dated Aug. 10, 2017 and may relevant procedures under Philippines regulations), and is estimated

Microsoft Word - ACE MDA Q121 - ENG_Final 07.05.21_ 1 No. ACE-ACC-2/2021 10 May 2021 Subject Management Discussion and Analysis for the period ended 31 March 2021 To President The Stock Exchange of

and the announcement of the lockdown measure in May 2021 are expected to affect both the purchasing power of consumers and the level of domestic economic recovery. However, if COVID-19 vaccination can

Microsoft Word - ACE MDA Q1 22 - EN - Final 1 No. ACE-ACC-2/2022 11 May 2022 Subject Management Discussion and Analysis for the period ended 31 March 2022 To President The Stock Exchange of Thailand

May 12, 2022 Subject: Management’s Discussion and Analysis for 1st quarter of 2022 ended as of March 31, 2022 Attention: President The Stock Exchange of Thailand AI Energy Public Company Limited (“the

Company had conducted activities to promote the Company’s information during the initial public offering (IPO) in May 2021. Consequently, in 6M2022, services expenses were THB 2.53 million, decreased by THB

conducted activities to promote the Com- pany’s information during the initial public offering (IPO) in May 2021. Administrative expenses In 3Q2022, administrative expenses were THB 8.59 million, decreased by

China operation was able to generate profit in April during the lockdown period. China operation resumed normal production since the first week of May and normal operation has continued until now. 2021