, mainly due to lower operating revenue despite improved cost management, including employee expenses, utilities expenses, and promotional expenses. Q1/2020 vs Q4/2019 (QoQ)  In Q1/2020, the Company

sales revenue over the same period last year. The decreased SG&A was mainly in related to the consolidated expense of supporting the Company itself and its overseas subsidiaries’ operation as well as

revenue which was decreased from 3.95% of sales revenue over the same period last year. The SG&A is within reasonable range which was mainly in related to the consolidated expense of supporting the Company

consolidated expense of supporting the Company itself and its overseas subsidiaries’ operation as well as marketing and managing expense to support existing and new customers as compared. 4. Financial Cost For

. However, the percentage of administrative expenses to operating revenue decreased due to higher revenue and improved cost management despite the one-time expense employee retirement benefits of Baht 26.2

and new customers. We have always been monitoring and analyzing IU volumes closely. Proactive cost saving plans were implemented with potential expense savings of THB 34 million by extending useful life

EM _2 # Earning upgrade *$N!%+$8, DM 8O 3 # .+" # (ก% ก, DM !-"* %+%' ก! .+' 88 3 ก#!ก (.ก 1) , ` a 2) , !9\ .+ 3) 8ก#ก *!9\ 8, " b"b!cd[ " -' #!$#ก #*2-. !, -' #!$ก ,2,!# ก*2- % ก

from rental and rendering of services from new rental spaces and improved occupancy rates, and decreased selling and distribution expenses from improved cost management • Operating revenue increased by

from the contributions of 1) additional industrial users with total PPA of 25 MW, 2) ABP3 and ABP5 improving heat rate after gas turbine upgrade in December 2018 - January 2019 and July 2019 respectively

noticed in Q2’19. In additions, the same upgrade via LTSA with Siemens for ABP5 is scheduled in Q3’19. The progress of SPP Replacement Scheme BGRIM has 5 cogeneration power plants qualified for the SPP