derivatives and hedge accounting, relating to Expenditure Hedging, resulting in decrease of foreign exchange effect. (2) The share of loss from Xe-Pian Xe-Namnoy Power Company Limited (“PNPC”), a joint venture

% Net Impairment on Financial Assets 0.2 0.0 N/A (1.0) 0.0 N/A Administrative Expenses (40.0) (39.4) 1.6% (81.4) (75.8) 7.3% Gain (Loss) from Exchange Rate (155.9) (2.2) 6,858.0% 60.1 1.9 3,081.9% Share

1Q'19 % Change Share of Profit from Investments (138.6) 339.2 -140.9% - Utilities Business (29.2) - N/A - Power Business (109.4) 339.2 -132.2% Adjustment Items: 360.1 (154.4) -333.2% - Foreign Exchange

in foreign exchange risk on borrowings. 2.5 Share of profit of associates and joint ventures Share of profit of associates and joint ventures for the 1st quarter of 2020 was THB 1,480.64 million

116 14.0% Gain (Loss) on exchange rate 135 (17) -112.8% Share of profit (loss) of associates and joint ventures  Share of profit from associates increased 14.0% from Baht 102 million to Baht 116

meet the following conditions: (1) stocks in the SET 50 of the Exchange; (2) stocks in the SET 100 of the Exchange whereby the share ranked from the 51st until the 100th shall have the average quarterly

Share of Profit from Investments in 2018 is adjusted from Share of Profit with (i) foreign exchange gain/loss, (ii) adjustments of Revenue Levelization (TFRS 15) of 2018 results (for comparison purposes

Exchange Gain (Loss) (344.5) (55.3) -523.1% Write Off Tax - 71.2 -100.0% Adjustment of Revenue Levelization (TFRS15)5 - (551.6) 100.0% Normalized Share of Profit from Investments 2,225.7 2,583.2 -13.8

Exchange Gain (Loss) 344.5 55.3 523.1% Write Off Tax - (71.2) -100.0% Adjustment of Revenue Levelization (TFRS15) - 551.6 -100.0% Normalized Share of Profit from Investments 1,536.6 1,511.7 1.6% - Utilities

mainly from i) a 204.9% increase of Share of Profit from Investments due to GHECO-One back to full operation, newly COD of 1 SPP (GNLL2), and Foreign Exchange Gain in 2Q’19. ii) a 33.1% increase of Gross