support and grow together with us. Commercial operation of ABPR5 From a total of 3 SPP power plants in Amata City Industrial Estate that have scheduled COD in 2018, ABPR5 is the third gas-fired combined

continuously support and grow together with us. Commercial operation of ABPR4 From a total of 3 SPP power plants in Amata City Industrial Estate that have scheduled COD in 2018, ABPR4 is the second gas-fired

List of foreign auditors approved by the office of SEC No. Audit Firm Name CPA No. Approval Period 1 Baker Tilly Monteiro Heng PLT Baker Tilly Tower Level 10 Tower 1 Avenue 5 Bangsar South City 59200

located in Amata City Rayong Industrial Estate) on February 1, June 1 and October 1, 2018 respectively. EBITDA • EBITDA increased 5.4% y-on-y to Baht 9,199 million in 2018 due to the operation of new power

consumption) NNP = Normalized net profit O&M = Operations and maintenance P.A. = Per annum PEA = Provincial Electricity Authority (Thailand) PPA = Power purchase agreement PTT = PTT Public Company Limited SG&A

and Analysis EXECUTIVE SUMMARY SIGNIFICANT EVENTS Commercial operation of ABPR3 From a total of three SPP power plants in Amata City Industrial Estate that have scheduled COD in 2018, ABPR3 is the first

74.99 Total Condominium 795.22 18.69% 930.52 30.52% 3 Unit : Million Baht Project Name Year 2017 % Year 2016 % Townhouse J Town Preaksa 333.78 316.45 J City Preaksa 45.54 - J Town Rangsit 326.30 389.64 J

City Industrial Estate and an increase in demand of industrial users in Amata Nakorn Industrial Estate and Hemraj Industrial Estate. EBITDA  EBITDA increased 4.0% y-on-y and 5.7% q-on-q to Baht 2,218

MANAGEMENT DISCUSSION & ANALYSIS 2019 14 FEBRUARY 2020 U CITY PCL 2019 - MD&A (for the year ended 31 December 2019) 1 U CITY PCL 2019 KEY FINANCIAL HIGHLIGHTS • Total revenue increased by 53.4% YoY

reduction to 241 THB/mmBtu in July (8% below Q2’2020 weighted average) while PTT projected that SPP gas price per unit would continually decline in the rest of the year. LNG Shipper license In Q2’2020