Microsoft Word - SET-AIS-CP 007-2020 Acquisition of spectrum license.docx (Translation) AIS-CP 007/2020 19 February 2020 Subject: Acquisition of spectrum license To: President The Stock Exchange of

acquisition completion on 26 March 2020 and increased revenue from electricity sales of Ichinoseki Solar Power 1 GK (ISP-1) due to higher light intensity than in Q2/2019. Besides, other income of Combine Heat

Assets 289,669 100% 368,074 100% 2H20 - 11,714 3,128 21,747 - Trade payable 22,037 7.6% 23,977 6.5% 2021 1,776 12,079 3,128 7,565 - ST loan & CP of LT loans 24,872 8.6% 24,196 6.6% 2022 - 13,440 - 7,565

revenue from selling electricity of Ichinoseki Solar Power 1 GK (ISP1) as a result of the lower light intensity in winter season. PAGE 3 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q4 2019 and FY2019 Executive

the lower natural gas price. However, gross profit of IRPC Clean Power plants (IRPC-CP) slightly decreased by Baht 8 million, however, gross profit of GLOW's SPP plants increased by Baht 15 million due

3,128 7,565 - ST loan & CP of LT loans 24,872 8.6% 25,569 6.8% 2022 - 13,440 - 7,565 - CP of lease liabilities - 0% 10,345 2.8% 2023 7,820 6,883 - 7,565 - Accrued R/S expense 5,248 1.8% 5,248 1.4% 2024

3,128 7,565 - ST loan & CP of LT loans 24,872 8.6% 25,569 6.8% 2022 - 13,440 - 7,565 - CP of lease liabilities - 0% 10,345 2.8% 2023 7,820 6,883 - 7,565 - Accrued R/S expense 5,248 1.8% 5,248 1.4% 2024

Others 2,062 0.7% 5,903 2.1% Bt mn Debenture Loan 1800MHz 900MHz Total Assets 284,067 100% 286,785 100% 2018 - 2,799 10,247 4,020 Trade payable 14,686 5.2% 13,334 4.6% 2019 7,789 3,364 - 4,020 ST loan & CP

payable 17,737 6.4% 15,973 5.7% ST loan & CP of LT loans 11,685 4.2% 4,613 1.7% Accrued R/S expense 5,361 1.9% 5,361 1.9% Others 34,546 13% 47,753 17% Current Liabilities 69,328 25% 73,700 26% Debenture

- 2,799 10,247 4,020 ST loan & CP of LT loans 11,685 4.2% 17,373 6.2% 2019 7,789 3,364 - 4,020 Accrued R/S expense 5,361 1.9% 5,362 1.9% 2020 - 24,829 - 59,574 Others 34,546 13% 38,298 14% 2021 1,776 12,079