Dear All Shareholders and Stakeholders,

2019 marked another momentous year of CK Power Public Company Limited and its affiliated companies. According to the operating results in 2019, the Company generated a profit in the amount of Baht 769 Million, a growth by 28 percent as compared to that in 2018, after the recognition of the share of profit from the Xayaburi Hydroelectric Power Plant, which officially opened its commercial operation on October 29, 2019.

The Company increased its indirect shareholding percentage in the Nam Ngum 2 Hydroelectric Power Plant from 42 percent to 46 percent and also offered for sale the debentures of NN2 in the total amount of Baht 6,000 Million, with TRIS Rating Co., Ltd. (“TRIS Rating”) assigning the issue rating to the debentures No. 1/2019 of “A” and upgrading the issue rating for all other debentures of NN2 to “A”, with “Stable” outlook, proceeds of which would be used for repayment of the remaining loans from the financial institutions to reduce financing costs. During 2019, the Company also gradually received the proceeds from the subscriptions for ordinary shares from exercise of the right of CKP-W1 in the amount of Baht 4,556 Million, thereby enormously strengthening the Company’s financial position. As for CSR activities, the Company implemented various projects which met a total of five goals of the United Nations Sustainable Development Goals (UNSDG) in the previous year, and set out a plan to expand further in the next year under the Company’s vision in delivering the clean energy security of CK Power to Thailand and the ASEAN region based on sustainability guidelines. Therefore, it can be said that the Company has achieved its goals, both revenue and profit, and also made significant strategic progresses in various fields, whether it be growth, efficiency and sustainability, all of which have enhanced the confidence of investors and stakeholders of all sectors in the long run.

In 2019, the Company had explicit operational goals based on sustainability guidelines in a more systematic manner, in which the Company adjusted the organization-wide operational processes to keep pace with the digital age (Digital Transformation) without forgetting to give priority to social and environmental responsibility and care, that is liken to the main philosophy to serve as a driving force behind the organization’s business.

In addition to the aforementioned achievements, the Company has also opened another five solar rooftop power plants, namely, Pachi Solar Power Plant in Phra Nakhon Si Ayutthaya Province with its installed capacity of 0.89 megawatts, Banglen Solar Power Plant in Nakhon Pathom Province, with its installed capacity of 0.97 megawatts; Phutthamonthon Sai 5 Solar Power Plant in Nakhon Pathom Province, with its installed capacity of 0.97 megawatts; Mahachai Solar Power Plant in Samut Sakhon Province, with its installed capacity of 0.72 megawatts; and Krathum Ban Solar Power Plant in Samut Sakhon Province, with its installed capacity of 0.51 megawatts. All of these have reinforced the steady growth of the organization on the basis of sustainability. In the context of the organization, the Company is still committed to fostering development of human resources by emphasizing continuous development of our leaders and staff. In 2019, the Company had explicit operational goals based on sustainability guidelines in a more systematic manner, in which the Company adjusted the organization-wide operational processes to keep pace with the digital age (Digital Transformation) without forgetting to give priority to social and environmental responsibility and care, that is liken to the main philosophy to serve as a driving force behind the organization’s business. Likewise, we have never forgotten to encourage our staff and business alliances to become aware of social responsibility.

On behalf of all directors, executives, and employees, I would like to extend my thanks to all of our shareholders, alliances, and stakeholders of all sectors for your trust in and continued support to the Company. Please rest assured that the Board of Directors, the management team and all staff are fully committed to devoting themselves to the greater development of the organization based on international sustainability by adhering to corporate governance and being responsible for all stakeholders. This is to ensure that the Company can achieve a steady growth, generate substantial returns for shareholders as well as play a part in enhancing stability of the alternative energy which is clean, sustainable and eco-friendly for Thailand and the ASEAN region. Lastly, I hope that everyone will continue to support the Company because at CK Power...Energy is Endless.

Dr. Thanong Bidaya

Chairman of the Board of Directors