or should have been known, but not exceeding two years from the effective date of registration statement.” 1 I. DESCRIPTION OF THE DEBT SECURITIES A. Economic Terms of the Debt Securities 1. Provide

2.46 -5.7% Steam to IU - Thailand Baht/Ton 1,059.31 1,034.45 -2.3% Effective gas cost Baht/mmBtu 240.00 239.89 235.26 -0.0% -2.0% B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis

installed capacity of 20.1 MW, and sells electricity to EDL under a 25-year PPA. The Project was able to achieve commercial operation on July 30, 2017 as scheduled in PPA, and the construction cost is in line

which the fact that the registration statement contained false information becomes known or should have been known, but not exceeding two years from the effective date of registration statement.” 3

or should have been known, but not exceeding two years from the effective date of registration statement.” แบบ 69-FD 2 CONTENTS Page I. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

% Effective gas cost Baht/mmBtu 245.98 236.59 -3.8% B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis ABBREVIATION & OUR PROJECTS EXECUTIVE SUMMARY FINANCIAL PERFORMANCE FINANCIAL

นการยกเลกิการเสนอขาย หลกัทรัพย ์และการจองซือ้หลกัทรัพย ์เป็นตน้ Disclose other material information such as financial advisor, lead-underwriter, co-underwriter, effective date of registration statement

(7) ฐานะทางการเงิน การดําเนินงาน และขอมูลท่ีสําคัญ ของธุรกิจ B. Capitalization and Indebtedness ม.69 (3) ทุนของบริษัท ม.70 (6) ยอดหนี้คงคางในการออกตั๋วเงินหรือหุนกูคร้ังกอน VIII. INFORMATION ABOUT

ขายหลักทรัพย III. KEY INFORMATION A. Selected Financial Data ขอมูลท่ีสําคัญทางการเงิน B. Capitalization and Indebtedness โครงสรางเงินทุนและและภาระผูกพัน C. Reasons for the Offer and Use of Proceeds

sales compared to the same period of 2018 which has cost of sales 767.27 million baht or 88.70% of sales due to proper product management and effective resulting in reduced cost of sales. - Selling and