Climate Bonds Standard & Certification Scheme Sector Criteria for Solar (version 2.1) Scope Sector-Specific Criteria are approved by the Climate Bonds Standard Board following a criteria development

Climate Bond Standard Solar Energy and the Climate Bond Standard Background Paper to eligibility criteria Solar Technical Working Group Ver s io n 1 : J u ly 201 3 Au t hor: Pad ra i g O l i ve r Ope

high at 114.02 KBD. Marketing Business was able to increase market share and maintain its 2nd position in the market. Power Plant Business realized additional profit from Solar and Wind Power Plants. As

quarter increased from the previous year from the commercial operation of various solar power plants both in Thailand and Japan, but decreased from the entering of rainy season which lowered the average

plant business realizing profit from the sales of their solar power plants assets into infrastructure fund. The performance for each business group are as follow: The Refinery and Trading Business Group

insignificant alteration in total electricity sales. The solar power plant projects in Thailand has current PPA capacity at 138.9 MW, an increase from Q1/2018 after the commercial operation commencement of the

. Power Plant Business Group recorded a superior electricity sales (+3% QoQ and 4% YoY), from the commercial operation commencement of Nagi and Gotemba solar power plant in Japan. For Solar power plant

Performance Q2/2017 Q1/2018 Q2/2018 YoY QoQ 6M2017 6M2018 YoY Solar Power Business – Thailand 68.07 66.03 66.70 -2% 1% 134.07 132.73 -1% Phase 1-3 (118 MW) 62.67 61.52 61.77 -1% 0.4% 126.01 123.29 -2

, oil price started tumbling, increasing marketing margin. Power plant business recorded a higher total electricity sales both from the solar power plants in Thailand and Japan. For projects in Thailand

in VON’s subsidiary, V. O. Solar Company Limited (“V Solar”). The agreed purchase price is 26,809,661.99 Baht and a transfer of debt that IFEC, who is the creditor of 100,097,457.53 Baht, owed by VON