Microsoft Word - S_2019_GRC-02_025_S43 Share Acquisition_EN Page 1 – Translation – GRC-02/2019/025 11 December 2019 Subject: Report of the Asset Acquisition To: President The Stock Exchange of

) (9.1%) Sales of steam (IU) 2.5 1.4 (1.1) (44.0%) Sales from Natural Gas Power Plant 422.3 668.6 246.3 58.3% Sales of electricity - FiT, base tariff and Ft 70.1 68.1 (2.0) (2.9%) FiT Premium 6.0 6.0

(IU) 1.1 0.8 1.1 37.5% - 6.5 3.3 (49.2%) Sales from Natural Gas Power Plant 507.7 657.4 884.1 34.5% 74.1% 1,396.9 2,210.1 58.2% Sales of electricity - FiT, base tariff and Ft 59.5 73.5 76.7 4.4% 28.9

periods of 2017 were 7.10 million Baht and 16.23 million Baht, decreased from the same period of the previous year by 2.33 million Baht and 4.98 million Baht respectively, due to the high price of natural

2.04% and earnings per share (EPS) decreased from 1.68 Baht/share to 1.04 Baht/share. Gross Profit Margin decreased from 21.70% to 18.54%. due to the price of natural rubber, which is the main raw

Natural will become a subsidiary of the Company. The information of Gulf WHA MT Registered capital : Baht 49,000,000 (Par price of 10 baht per share) Paid up capital : Baht 12,250,000 (Price of 2.5 baht per

, decreased by Baht 153 million or 15% from Q2/2018. The drop was due to the rise in natural gas prices while Fuel tariff (Ft) rate remained constant; therefore, the gross profits of Rayong Central Utility

% 680.5 1,124.4 65.2% Sales of electricity to Industrial Users (IU) 1.4 1.0 0.8 (20.0%) (42.9%) 2.5 1.8 (28.0%) Sales of steam (IU) 2.9 1.4 0.8 (42.9%) (72.4%) 5.4 2.2 (59.3%) Sales from Natural Gas Power

Natural gas (IPP) Natural gas (SPP+VSPP) Maintenance costs Others 59% 60% 63% 10% 9% 4% 18% 18% 18% 4% 4% 4% 9% 10% 10% 14,062 12,943 12,488 Q2/19 Q1/20 Q2/20 Coal GPSC - Q2/2020 Management Discussion and

1,079.9 70.1% Sales of electricity to Industrial Users (IU) 1.0 0.8 0.8 0.8 - - 5.0 3.4 (1.6) (32.0%) Sales of steam (IU) 1.4 0.8 1.1 0.7 (0.4) (36.4%) 8.4 4.0 (4.4) (52.4%) Sales from Natural Gas Power