No. 978/2020 May 28, 2020

Subject Invitation to the 2020 Annual General Meeting of Unitholders

To The Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF)

Attachment 1. Copy of Minutes of the 2019 Annual General Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) 2. Copy of Minutes of the Extraordinary General Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) No.1/2019 3. The annual report for the year 2019 in CD-ROM format (or download at www.brrgif.com/ar.html) 4. Summary of Comparison of the Essential Proposal regarding the Amendments to the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing 5. Registration Form 6. Procedure for Registration, Attendance of the Meeting and Proxy Granting 7. Proxy Form 8. Information of Fund Manager from BBLAM Asset Management Company Limited as Proxy to Attend the Meeting 9. Map of Venue of the Meeting 10. Information on the Entering into a Transaction with the Fund’s Related Parties to Amend the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing 11. List of 10 Major Unitholders at Book Closing Date (10 March 2020) 12. Precautionary Measures and Guidelines for the 2020 Annual General Meeting of Unitholders during the outbreak of Coronavirus Disease 2019 (COVID-19)

As BBL Asset Management Company Limited (the “Management Company”) as the Management Company of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) (the “Fund”) deemed it appropriate to convene the 2020 Annual General Meeting of Unitholders of the Fund on Friday, 26 June 2020, at 10.00 hours, at Crowne Ballroom, 21st floor, Crowne Plaza Bangkok Lumpini Park Hotel. The quorum of the 2020 Annual General Meeting of Unitholders shall consist of the Unitholders and the proxies not less than 25 unitholders or half of the total number of unitholders, and the total number of units held by the unitholders who attend the meeting shall not be less than one-third of the total number of units sold of the Fund.

In this regard, even though the government agencies have relieved the precautionary measures to prevent the spread of Coronavirus Disease 2019 (COVID-19), the Management Company encourages the Unitholders to appoint the Fund Manager as a proxy to attend the 2020 Annual General Meeting of Unitholders on behalf of the

Page 1 Unitholders. For safety of the meeting attendees in the 2020 Annual General Meeting of Unitholders, the Management Company have to announce Precautionary Measures and Guidelines for the 2020 Annual General Meeting of Unitholders during the outbreak of Coronavirus Disease 2019 (COVID-19) in accordance with the Public Health Standards of Department of Disease Control, Ministry of Public Health or any rules announced by government agencies to prevent the outbreak, whereby the meeting attendees must strictly follow, details of which appeared in the Attachment 12.

The Management Company would like to propose the Unitholders to consider matters according to the following agendas:

Agenda 1 To acknowledge the minutes of past meetings of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) Fact and Rationale

The Management Company has prepared the Minutes of the 2019 Annual General Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) held on 26 April 2019, details of which appeared in the Attachment 1, and the Minutes of the Extraordinary Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) No.1/2019 held on 23 December 2019, details of which appeared in the Attachment 2. In this regard, the Management Company has delivered the copy of the aforesaid minutes to the Stock Exchange of Thailand (the “SET”) within 14 days from the date of the meeting pursuant to the regulations announced by the SET and disclosed the aforesaid minutes in the Fund’s website.

The Opinion of the Management Company The Management Company deemed appropriate to propose the Unitholders to acknowledge the Minutes of the 2019 Annual General Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) and the Minutes of the Extraordinary Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) No.1/2019. The Opinion of the Fund Supervisor The Fund Supervisor deemed appropriate to propose the Unitholders to acknowledge the Minutes of the 2019 Annual General Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) and the Minutes of the Extraordinary Meeting of Unitholders No.1/2019 of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF).

Page 2 Resolution This agenda is for acknowledgement, therefore, there is no casting of votes.

Agenda 2 To acknowledge the significant management of the Fund and the management guideline in the future

Fact and Rationale

In order to propose the Unitholders to acknowledge the significant change and development of the Fund for the year 2020 and the management guideline of the Fund in the future, the Management Company deemed appropriate to report the following matters to the Unitholders:

2.1 The Significant Change and Development

After the Fund invested in Net Revenue Transfer Agreement of Power Pant Business of Buriram Energy Co., Ltd. (“BEC”) and Buriram Power Co., Ltd. (“BPC”), dated 2 August 2017 ("Net Revenue Transfer Agreement"). In 2019, the power plant of BEC and BPC was scheduled to have major maintenance which will be conducted once in every 3 years, other than yearly maintenance. Such maintenance caused the power plant to halt the operation in order to repair damaged machinery for many times since the second quarter of 2019 and the yearly maintenace was rescheduled from November 2019 to September 2019.

2.2 The Management Guideline in the Future The Management Company focuses on management by taking into consideration the regular benefits of the Unitholders in a long term. The Management Company has constantly carried out and monitored the operations of BEC and BPC from the documents received from BEC and BPC and from the meeting with Manufacturing Department of the power plant in order to inquire about problems and obstacles in the operation, and inspect the assets of the power plant with the Fund Supervisor every year. Moreover, the Management Company has followed up and monitored the implementation of maintenance plan to be in accordance with the approval of the Fund since the establishment of the Fund, as well as the operation of the power plant to be in accordance with Net Revenue Transfer Agreement and Undertaking Agreement, which are part of risk management so that the Fund can distribute the return to the Unitholders appropriately and constantly. The Opinion of the Management Company

The Management Company deemed appropriate to propose the 2020 Annual General Meeting of Unitholders to acknowledge the details of the significant management of the Fund and the management guideline in the future, in order to comply with the regulations imposed by the Office of Securities and Exchange Commission Page 3 (the “Office of the SEC”) which requires the Management Company to report the Unitholders to acknowledge the aforesaid matter. The Opinion of the Fund Supervisor The Fund Supervisor deemed appropriate to propose the 2020 Annual General Meeting of Unitholders to acknowledge the details of the significant management of the Fund and the management guideline in the future, in order to comply with the regulations imposed by the Office of SEC which requires the Management Company to report the Unitholders to acknowledge the aforesaid matter. Resolution This agenda is for acknowledgement, therefore, there is no casting of votes.

Agenda 3 To acknowledge the operating performance, the Financial Statements and the Income Statement of the Fund for the year 2019

Fact and Rationale

The Management summarized the operating performance of the Fund from 1 January 2019 to 31 December 2019 as shown in the annual report for the year 2019 (Part 4 Financial Position and performance of the Fund, Subject 13.2) as appeared in Attachment 3, which was delivered to the Unitholders in CD-ROM format along with this Invitation Letter.

In this regard, the Statement of Financial Position and Income Statement for the year ended 31 December 2019 of the Fund has been prepared in accordance with the accounting standard and audited by the certified auditor from PricewaterhouseCoopers ABAS Co., Ltd., which was summarized as follow:

Statement 2019 2018 (Unit: THB Million) (Unit: THB Million)

Statement of Financial position Total Assets 3,362.04 3,654.64 Total Liabilities 3.01 2.82 Net Asset Value 3,359.03 3,651.83 Net Asset Value per Unit (THB) 9.5972 10.4337

Page 4 Statement 2019 2018 (Unit: THB Million) (Unit: THB Million)

Income Statement Total Income 244.18 264.17 Total Expenses 26.96 27.29 Net Investment Income 217.22 236.88 Unrealized loss on investment (24.22) (19.47) Increase in net assets from operations 193.00 217.41

Cash Flow Statement Net cash from operating activities 483.37 274.63 Net cash used in financing activities (485.80) (274.96) Net cash and decrease in cash equivalents (2.42) (0.33) Cash and cash equivalents at the beginning of the year 7.52 7.85 Cash and cash equivalents at the end of the year 5.10 7.52

In addition, the auditor determine that the valuation of Net Revenue Transfer Agreement is key audit matters. The auditor carried out the audit procedures by inquiring the management of the Management Company and independent appraiser to understand the basis used for measurement of fair value appraisal and related key assumptions. In this regard, the evaluation of the appropriateness of the fair value approach for the investment by using income approach comparing with the normal practice of the in the industry and the evaluation of reasonableness of key assumptions used for evaluation which are the assumptions of forecasted net future cash flows and the assumptions of discount rate. The auditor considered that the implemented key assumptions were reasonable based on the available evidence and the appraised value were within the acceptable range. The Opinion of the Management Company

The Management Company deemed appropriate to propose the 2020 Annual General Meeting of Unitholders to acknowledge the operating performance of the Fund, Statement of Financial Position and Income Statement for the year ended 31 December 2019 of the Fund, in order to report the operating performance for the year 2019 to the Unitholders and to comply with the regulations imposed by the Office of SEC which requires the

Page 5 Management Company to report the meeting of Unitholders to acknowledge the financial position and operating performance of the fund in the past year. The Opinion of the Fund Supervisor The Fund Supervisor deemed appropriate to propose the 2020 Annual General Meeting of Unitholders to acknowledge the operating performance of the Fund, Statement of Financial Position and Income Statement for the year ended 31 December 2019 of the Fund, in order to comply with the regulations imposed by the Office of SEC which requires the Management Company to report the meeting of Unitholders to acknowledge the financial position and operating performance of the fund in the past year.

Resolution

This agenda is for acknowledgement, therefore, there is no casting of votes.

Agenda 4 To acknowledge the payment of dividends and capital reductions for the year 2019

Fact and Rationale

As appeared in the Fund Scheme Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF), the Fund has a policy to distribute dividends to the Unitholders at least twice a year, provided that the Fund has sufficient amount of retained earnings, details of which are as follows:

1. Subject to Securities Laws, any dividend to be distributed to the Unitholders will be paid within 90 days from the ended fiscal period that the dividends have been distributed and the total sum of which, in each fiscal year, shall not less than 90 percent of the adjusted net profit. 2. In the case that the Fund has retained earnings, the Management Company may distribute dividends to the Unitholders from such retained earnings. 3. In the case that the Fund has accumulated loss, the Management Company may not distribute dividends whether from the adjusted net profit in item 1. and/or retained earnings in item 2. For the performance in 2019 from 1 January 2019 to 31 December 2019, the Fund has paid the dividends 4 times in the total amount of THB 0.55377 per unit, detailed as follows:

Page 6 No. Performance Period Dividend Payment Date (THB/Unit) 1 1 January 2019 – 31 March 2019 0.16492 7 June 2019 2 1 April 2019 – 30 June 2019 0.12318 6 September 2019 3 1 July 2019 – 30 September 2019 0.14846 13 December 2019 4 1 October 2019 – 31 December 2019 0.11721 24 March 2020 Total 0.55377

In addition, for the operating period from 1 August 2017 (the establishment date of the Fund) to 31 December 2019, the Fund has paid the capital returns 3 times in the total amount of THB 0.95 per unit, detailed as follows: The remaining of total Capital Return No. Payment Date registered capital (THB/Unit) (THB/Unit) 1 7 June 2019 0.60 9.70 2 6 September 2019 0.22 9.48 3 24 March 2019 0.13 9.35 Total 0.95

The Opinion of the Management Company

The Management Company deemed appropriate to propose the 2020 Annual General Meeting of Unitholders to acknowledge the details of payment of dividends for the year 2019 and capital reductions for the operating period from 1 August 2017 (the establishment date of the Fund) to 31 December 2019 to the Unitholders. The payment of dividends is in accordance with the policy of the dividends distribution as appeared in the Fund Scheme of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF). The Opinion of the Fund Supervisor

The Fund Supervisor deemed appropriate to propose the 2020 Annual General Meeting of Unitholders to acknowledge the details of payment of dividends for the year 2019 and capital reductions for the performance period from 1 August 2017 (the establishment date of the Fund) to 31 December 2019 to the Unitholders. The payment

Page 7 of dividends is in accordance with the policy of the dividends distribution as appeared in the Fund Scheme of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF).

Resolution

This agenda is for acknowledgement, therefore, there is no casting of votes.

Agenda 5 To acknowledge the appointment of auditors and the audit fees for the year 2020

Fact and Rationale

The Management Company has appointed the auditors from PricewaterhouseCoopers ABAS Co., Ltd. which was certified auditor of the Fund for the fiscal year ended 31 December 2019 to be the certified auditor of the Fund and determined the audit fee for the year 2020, detailed as follows: 5.1 The Appointment of the Auditor The Management Company considered that PricewaterhouseCoopers ABAS Co., Ltd, which has been approved and complied with the regulations stipulated by the Office of the SEC, has appropriate qualification and capability of the auditors based on the qualification, quality, competence, and the independence of the auditor who does not have any interest or conflict of interest in performing a duty as an auditor of the Fund. Therefore, the Management Company considered and appointed the auditors whose names are specified as follows.

1. Mr. Sa-nga Chokenitisawat CPA Registration Number 11251 (performed duty as the auditor of the Fund for 2 fiscal year in 2019) 2. Mr. Boonrueng Lerdwiseswit CPA Registration Number 6552 (performed duty as the auditor of the Fund in 2017-2018) 3. Mr. Pongthavee Ratanakoses CPA Registration Number 7795

Any one of above auditors have to conduct an audit and give opinion to the financial statements of the Fund. In the case where none of the above auditors are able to perform their duties, PricewaterhouseCoopers ABAS Co., Ltd shall appoint any of its certified auditors to conduct an audit and give opinion to the financial statements of the Fund in place of the above auditors.

Page 8 5.2 The Determination of the Audit Fees The Management Company considered that the audit fees proposed by the auditor is appropriate and in line with the audit scope. Therefore, the determination of audit fees for the year 2020 (not including non-audit fee such as copy fee, travel fee and other fees) is detailed as follows: Fee 2019 2020 % of changes Audit Fee THB 1,500,000 THB 1,500,000 No change Non-Audit Fee N.A. N.A. N.A.

Total THB 1,500,000 THB 1,500,000 No change

The Opinion of the Management Company The Management Company deemed appropriate to propose the 2020 Annual General Meeting of Unitholders to acknowledge the appointment of the auditors from PricewaterhouseCoopers ABAS Co., Ltd to be the certified auditor of the Fund and the determination of the audit fee for the year 2020 as mentioned above. The Management Company has considered that the said auditors are the auditors approved and in accordance with the regulations imposed by the Office of the SEC. The auditors have conducted their duty professionally and do not have any relationship or interest with the Fund, thereby rendering them independent in performance. In addition, the amount of the audit fee is in accordance with the audit fee in market rate which the auditors generally charges for conducting an audit for other individuals.

The Opinion of the Fund Supervisor The Fund Supervisor is of the view that the auditors from PricewaterhouseCoopers ABAS Co., Ltd as proposed by the Management Company are the auditors approved and in accordance with the regulations imposed by the Office of the SEC. The auditors have conducted their duty properly and do not have any relationship or vested interest with the Fund, thereby rendering them independent in performance of duties.

Resolution

This agenda is for acknowledgement, therefore, there is no casting of votes.

Page 9 Agenda 6 To consider and approve the amendments to the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing

Fact and Rationale As the Fund convened the Extraordinary General Meeting No.1/2019 on 23 December 2019 to propose for the approval of the Unitholders of the fund to amend the Net Revenue Transfer Agreement of Power Plant Business dated 2 August 2017 (the “Net Revenue Transfer Agreement”) and other relevant agreement, including Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing dated 2 August 2017 (“Biomass Raw Material Sale and Purchase Agreement”) so that the determination of sale and purchase price will comply with the Revenue Code Amendment Act (No.47) B.E. 2561 (A.D. 2018) regarding the measures on transfer pricing between related companies or juristic partnerships (the “Act”), whereby the meeting resolved to disapprove the Fund to amend the Net Revenue Transfer Agreement and relevant agreements as proposed, the details of which are as appeared in the Minutes of the Extraordinary General Meeting of Unitholders No.1/2019.

Nevertheless, Buriram Energy Co., Ltd. ("BEC") and Buriram Power Co., Ltd. ("BPC") are still of necessity to amend the related agreements as permissible, in order that the sale and purchase prices under the agreements are in accordance with the Act. In this regard, on 27 December 2019, the BEC and BPC has notified the Fund and asked for an approval for the amendments to the related agreements, only which that does not affect the Fund's revenue, that is the Biomass Raw Material Sale and Purchase Agreement since the structure of sale and purchase prices of bagasse has a definite fluctuation threshold which is based on the fluctuation of the electricity sale and purchase price between BEC, BPC and the Provincial Electricity Authority, as well as the Net Revenue Transfer Agreement which set the underlying price of bagasse and will not be adjusted to the price in the Biomass Raw Material Sale and Purchase Agreement that is to be amended, therefore regardless of any adjustments to the price of the bagasse in the Biomass Raw Material Sale and Purchase Agreement, the reimbursement for the price of bagasse from the Fund will not be effected, and thus the net income of which the Fund will receive will remain the same. The Management Company has consented to use the standard sale and purchase price of bagasse at THB 565.00 per ton in the Biomass Raw Material Sale and Purchase Agreement which had been in effect from 1 January 2019 to 31 December 2019, whereas the reimbursement for the price of bagasse from the Fund is still based on the Net Revenue Transfer Agreement at THB 351.9481 per ton.

On 9 March 2020, Buriram Sugar Public Company Limited, as the Unitholder who holds 33.05 percent of all Units of the Fund, has notified the Fund of the intention to request the Fund to include the agenda for the meeting of Unitholders of the Fund to consider and approve the amendment of the Biomass Raw Material Sale and Purchase Agreement dated 2 August 2017 between Buriram Sugar Factory Co., Ltd., BEC and BPC which will be in effect retroactively from 1 January 2020 onwards. The aforementioned Agreement stipulated that the amendments of the Agreement is conditional upon the approval of the Fund and such approval shall be made to revise the existing Page 10 clause in the aforementioned Agreement with the material details as appeared in Attachment 4, so that the sale and purchase prices will be in accordance with the Act.

According to the above details, the Management Company has deemed it expedient to propose the 2020 Annual General Meeting of Unitholders of the Fund to consider and approve the amendments to the Biomass Raw Material Sale and Purchase Agreement to adjust the sale and purchase price of bagasse and replace with the new clause having material details as appeared in Attachment 4 which shall be effective retroactively from 1 January 2020 onwards. In this regard, the Information on the Entering into a Transaction with the Fund’s Related Parties to Amend the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing is appeared in Attachment 10.

Opinion of the Management Company The Management Company has consented to BEC and BPC to amend the Biomass Raw Material Sale and Purchase Agreement which shall be effective retroactively from 1 January 2020 onwards, and is of the view that such consent is made in order that the commercial and financial provision of the Biomass Raw Material Sale and Purchase Agreement regarding the transaction between related juristic persons will be conducted independently without transfer pricing, and the sale and purchase price under the Biomass Raw Material Sale and Purchase Agreement shall be based on the market price pursuant to the regulations of the Revenue Department in the Revenue Code Amendment Act (No.47) B.E. 2561 (A.D. 2018) regarding the measures on transfer pricing between related companies or juristic partnerships, to prevent and resolve transfer pricing issues within the transactions entered into between related entities and having characteristic of a sale of goods and services to each other and involving a transfer of profits to avoid payment of taxes to be payable. If the amendment is not made in order to comply with the Act and regulations of the Revenue Department may cause BEC and BPC to pay increasing taxes, including penalties and surcharge (if any), which will eventually affect the Company’s ability to operate in a long run. With regard to the aforementioned consent, BEC and BPC shall provide their representation in writing stated that they shall not incur any obligations or expenses, including any damages which may affect the revenue received from BEC and BPC under the Net Revenue Transfer Agreement prior to this consent and agree to indemnify the Fund for any obligations or expenses, including any damages, which may affect the revenue to be recieved by the Fund, caused by such consent. However, it is mainly upon the discretion of the Unitholders. Opinion of the Fund Supervisor As the Management Company received the proposal from BEC and BPC to propose the Fund to approve the amendments to the Biomass Raw Material Sale and Purchase Agreement to adjust the sale and purchase prices of bagasse which has been deemed expedient by the Management Company that such consent is made in order to contain commercial and financial provisions that make any transactions between related juristic person independent

Page 11 and not being regarded as a transfer of profits, and to adjust the sale and purchase price under the Biomass Raw Material Sale and Purchase Agreement to be based on market price and to be in accordance with the regulations of the Revenue Department in the Revenue Code Amendment Act (No.47) B.E. 2561 (A.D. 2018) The Fund Supervisor is of the view that giving consent to amend the Biomass Raw Material Sale and Purchase Agreement as proposed above will not affect the price of raw material charged to the Fund. The aforementioned consent will not affect BEC and BPC on the amount of reimbursement for the price of bagasse from the Fund so that the net revenue to be received by the Fund will not be affected. However, the Management Company shall request BEC and BPC and/or other related entities to provide their representation that they shall not incur any obligations or expenses, including any damages, which may affect the revenue to be received from such consent and agree to indemnify the Fund for any obligations or expenses, including any damages, which may affect the revenue to be received by the Fund, caused by such consent. The decision to approve such transaction will be entirely at the discretion of Unitholders. In this regard, Unitholders are asked to read additional information in documents enclosed with this Invitation Letter in order to exercise their judgement and discretion for making decisions to cast their vote properly. Resolution

The approval of agenda no. 6 requires the affirmative votes of not less than three-fourths of the number of units held by the Unitholders present and entitled to vote at the meeting. In counting the votes of the entitled persons, the Management Company will not count the votes from the Unitholders having interest in such agenda or the Unitholders who may have a conflict of interest with the Fund in an agenda that seeks the meeting’s resolution or any person who is in the same group as the persons mentioned above, including other funds under the management of the Management Company, in accordance with the relevant notifications of the office of the SEC.

The Unitholders who have a special conflict of interest with the Fund in consideration and approval to the amendments to the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing dated on 10 March 2020 includes:

Number of Unit Portion of unit held of the total number Name held of units sold of the Fund. (%) Buriram Sugar Public Co., Ltd. 115,672,228 33.05

The other fund under the management of the Management Company held the unit of the Fund on 10 Match 2020 is Bualuang Income Fund which held 11,077,600 Unit of the Fund in total of 3.17 percent of the total number of units sold of the Fund. Page 12 Agenda 7 Other matters (If any)

The unitholders are hereby invited to attend the Meeting on the date and at time and place stated in this Invitation Letter. The Management Company will open for the unitholders to register from 9.00 a.m. The unitholders who cannot attend the Meeting and wish to appoint a proxy to attend and cast the vote at the Meeting on their behalf, please complete and duly execute in Registration Form as appeared in Attachment 5 and any of the Proxy Forms enclosed with this Invitation Letter, as appeared in Attachment 7 (with stamp duty of Baht 20 affixed). The Unitholders can submit the completed proxy beforehand within 24 June 2020, 17 a.m., to the Management Company, address as follow: Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) BBL Asset Management Company Limited 175 Sathorn City Tower, 7th, 21st and 26th Floor, South Sathorn Road, Thungmahamek Sub-District, Sathorn District, Bangkok 10120 The Unitholders and Proxies who wish to attend the meeting shall present the identity documents to attend the Meeting following to the details appeared in Attachment 6, which was delivered to all unitholders with this Invitation Letter, and submit such documents to the Management Company or the person assigned by the Management Company before the meeting. In order to protect the Unitholders’ right, please study the Procedure for Registration, Attendance of the Meeting and Proxy Granting, details appeared in Attachment 6, which was delivered to all unitholders with this Invitation Letter. In the meeting, the Management Company request all the meeting attendees strictly follow the measures and guidelines for the 2020 Annual General Meeting of Unitholders under the outbreak of Coronavirus 2019 (COVID-19), details are as appeared in the Attachment 12, for safety of all attendees. Complying with measures and guidelines may cause a delay and inconvenience to the Unitholder, the Management Company would like to apologize for any inconvenience that may occurs

Should you have any question or inquiry relating to granting proxy, please contact BBL Asset Management Company Limited. Tel 02-674-6400 ext. 553 during business hours.

Sincerely Yours,

(Mr. Pornchalit Ploykrachang) Deputy Managing Director Page 13 Attachment 1

Minutes of the 2019 Annual General Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF)

The meeting was held on 26 April 2019 at 10.00 hrs. at the Platinum Hall, 3rd Floor, Grand Mercure Fortune Hotel, No. 1, Fortune Town Building. Ratchadaphisek Road, Din Daeng Sub-district, Din Daeng District, Bangkok, and Mr. Pornchalit Ploykrachang, Deputy Managing Director of BBL Asset Management Company Limited (the "Management Company"), the representative of the Management Company, acted as the Chairman of the Meeting (the "Chairman").

Ms. Wararat Veerakongsuwan, the master of ceremonies (the “MC”), welcomed the unitholders attending the 2019 Annual General Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) (the "Fund"), held for the first year in accordance with the Notification of the Capital Market Supervisory Board No. TorNor. 1/2544, Re: Rules, Conditions and Procedures for Establishment and Management of Infrastructure Funds (as amended), which stipulated that the Management Company shall convene an annual general meeting within 4 months from the end of the fiscal year; and introduced representatives of the Management Company, representatives of Sponsor and Asset Manager, and representatives of the Fund Supervisor who attended the Meeting as follows:

1. Representatives of BBL Asset Management Company Limited (1) Mr. Pornchalit Ploykrachang Deputy Managing Director (2) Miss Benchamartse Jroonwongniramal Vice President 2. Representatives of Sponsor and Asset Manager from Buriram Sugar Public Co., Ltd. (1) Mr. Pitak Chaosoun Deputy Managing Director (2) Mr. Adul Suravudhikul Senior Assistant Managing 3. Representative of Fund Supervisor from KASIKORNBANK Public Company Limited (1) Miss Warranitcha Sonin Unit Manager of Securities Services Department 4. Auditor from PricewaterhouseCoopers ABAS Ltd. (1) Miss Sukhumaporn Wong-ariyaporn Auditor of the Fund

The MC explained the meeting that before starting consideration of the Meeting’s agendas, the quorum of the meeting shall consist of no less than 25 unitholders or half of the total number of unitholders, and the total number of units held by the unitholders who attend the meeting shall not be less than one-third of the total number of units sold of the Fund. At 10.00 hrs., there were totally 71 unitholders by self-attendance and by proxies, holding 193,607,574 units in total, representing 55.3164% of the total number of units sold (the total number of units sold is 350,000,000 units). The meeting was constituted a quorum in accordance with the Notification of the Capital Market Supervisory Board No. TorNor. 1/2544, Re: Rules, Conditions and Procedures for Establishment and Management of Infrastructure Funds (as amended), the MC, therefore, invited the Chairman to announce the opening for the 2019 Annual General Meeting of Unitholders of the Fund (the "2019 Annual General Meeting")

The Chairman delivered his gratitude to all attending unitholders for the 2019 Annual General Meeting of Unitholders, and at the moment, the number of unitholders was adequate to constitute a quorum for the meeting, the 2019 Annual General Meeting was, therefore, commenced.

Next, the MC informed the attending unitholders about the meeting agendas to be proposed to the meeting as follows:

Agenda 1 To acknowledge the information of the Fund; Agenda 2 To acknowledge the Fund’s operational performance and financial status for the year 2018; Agenda 3 To acknowledge the dividend payment for the year 2018; Agenda 4 To acknowledge the appointment of auditors and the audit fees for the year 2019; Agenda 5 To consider other matters (if any)

The MC informed the meeting that all meeting agendas for today were agendas for acknowledgement, therefore, any resolution was not required, but the attending unitholders could inquire after the completion of each agenda and the MC shall inform the period for inquiries. Any unitholder or proxy wishing to make an inquiry was requested to follow the procedure as follows: raising a hand, informing name-surname, showing that you are a unitholder by self-attendance or by proxy including the name of a unitholder who authorizes a proxy, so that the minutes of meeting can be correctly and completely recorded. Additionally, in order to manage the meeting time with efficiency and without impact on other attending unitholders as a whole, unitholders were requested to make an inquiry in each agenda in a concise manner and in line with the respective agenda, any question related to any agenda, that question shall be replied in that agenda instead.

Agenda 1 To acknowledge the information of the Fund

The MC invited Miss Benchamartse to present the background and information of the Fund from its establishment until present to the 2019 Annual General Meeting because this general meeting was the first meeting since the establishment of the Fund to be in line with the Notification of the Capital Market Supervisory Board No. TorNor. 1/2544, Re: Rules, Conditions and Procedures for Establishment and Management of Infrastructure Funds (as amended), requiring the Management Company to hold an annual general meeting within 4 months from the end of the fiscal year, Miss Benchamartse presented the background and information of the Fund as follows: The Fund has had a policy to invest in infrastructure businesses under power plant or alternative energy plant category, the first asset to be invested was the right of net revenue which will occur in the future from the operation of biomass power plants, generated with the combination of thermal energy and electricity, or the Cogeneration production system, of Buriram Energy Company Limited ("BEC") and Buriram Power Company Limited ("BPC"), which are subsidiaries of Buriram Sugar Public Company Limited ("BRR"), with the use of bagasse as a major source of fuel. The Fund has been approved to be established as a fund by the Securities & Exchange Commission on 1 August 2017 and commenced its investment in the said asset on 2 August 2017 with the investment term equal to the remaining period of the Power Purchase Agreement between the Provincial Electricity Authority (PEA) and two power plants ("PPA"). On the completed investment date, BEC's PPA shall be terminated Page 2 on 10 August, 2028, with a remaining period of approximately 11 years; while BPC's PPA shall be terminated on 6 April 2035, with a remaining period of approximately 18 years. On 31 December 2018, the last day of fiscal year, BEC's PPA and BPC’s PPA had remaining periods of approximately 10 years and 16 years, respectively. Investment units of the Fund were commenced trading in the Stock Exchange of Thailand (the "Stock Exchange") from 7 August 2017. The Fund had starting fund sizes at the amount of 3,605 Million Baht, divided into 350 million investment units at a price of 10.30 Baht per unit, the capital raised from unitholders was spent for the investment in the right of net revenue with the investment cost of 3,590.50 Million Baht and for the Fund’s setting up expenses and initial working capital of the Fund with the remaining amount of 14.50 Million Baht. As of 31 December 2018, the investment in the right of net revenue was valued in accordance with the appraisal value of the assets at 3,402 Million Baht. Based on the information of the Book Closing to entitle the right for attending the general meeting on 29 March 2019 the Fund had top 10 unitholders representing 69.83 percent of total sold investment units of the Fund; when considering the categories of unitholders, it was found that: 1. Sponsor (which is BRR) was holding 33.05 percent of sold investment units; 2. Ordinary people (or minor unitholderes) in the country were holding 40.94 percent of sold investment units; 3. Juristic persons (or institutions) in the country were holding 25.89 percent of sold investment units; and 4. Ordianry people in foreign countries were holding the remaining investment units in the proportion of 0.12 percent.

From the above figure regarding the Fund’s structure, the Fund spent the capital raised by the initial public offering of investment units to invest in the right of net revenue in the power plant business of BEC and BPC with two agreements, consisting of the Net Revenue Transfer Agreement between the Fund and BEC & BPC, and another the Undertaking Agreement between the Fund and BRR, BEC & BPC, which BRR entered into an agreement with

Page 3 the Fund as a shareholder in BEC (99.99%) and as an indirect shareholder in BPC (99.98%). Apart from PPA, BEC and BPC entered into agreements relating to the operations of the power plant with Buriram Sugar Factory Company Limited (BSF), including Biomass Material Trading Agreement, RO Water Trading Agreement, Condensate Water Trading Agreement, Power Purchase Agreement and Steam Purchase Agreement, which would reduce the risk of price fluctuations and shortages of biomass raw materials used in electricity and steam production, and would strengthen the revenue earning to meet the estimate. In terms of Fund management, BBL Asset Management Company Limited is the fund management company as the fund manager, whereas KASIKORNBANK would supervise the fund manager to follow the fund management scheme as a fund supervisor and assign the Investment Advisory Committee to provide consultancy and suggestions to the fund manager on business asset management in which the Fund has invested. The Investment Advisory Committee consists of representatives from the Management Company, representatives from the Asset Manager, and fund technical advisors; and the meetings of this Investment Advisory Committee shall be quarterly held. An overview of the business operations of BEC and BPC’s biomass power plants in which the Fund has invested in purchasing the right of net revenue could be explained from the electricity and steam production processes of the power plants as shown in below diagram:

The electricity and steam production processes shall be started at Point No.1: Fuel Furnanc: after putting biomass raw materials as fuel into the furnanc to heat the existing water in Point No.2: Steam Boiler, it will generate high pressure steam that will be delivered to 2 points, which are Point A1: Steam Turbine of the power plant, and Point B1: the sugarcane crushing process of Buriram Sugar Factory Company Limited (“BSF”) which the high pressure steam deliered to Point A1 shall make the turbine rotate so that the generator produces electricity for selling to Provincial Page 4 Electricity Authority (PEA) and BSF; and Turbine, at Point A1,shall release low pressure steam which will be delivered to sell to BSF to be used in sugar melting process at Point A2, the water generated in the sugar melting process shall be transported into the condensation process to become a condensate water which shall be sell back to the power plant to be used in the Steam Boiler to save energy. The high-pressure steam that was delivered to sell to the sugar factory for the use in the sugarcane crushing process at Point B1 shall generate the water that was passed through the reverse osmosis process to become RO water for selling back to the power plant in order to be used in the Steam Boiler for energy saving as well. From the above-mentioned production process, the power plant business shall have 3 major revenue sources consisting of revenue from electricity, revenue from high pressure steam, and revenue from low pressure steam, some portions of revenue sources of the power plant came from BSF which has been run only 7 to 8 months each year, affecting the power plant in overall shall have total revenue that would be fluctuated in accordance with the production season of BSF, meaning that in each year, BSF shall operate its factory from December to July, including the sugarcan crushing season in December to April, and the sugar-melting season from May to July. The power plants will have revenues from selling electricity, low pressure steam and high pressure steam during December – April, while the power plant will have revenues from selling electricity and low pressure steam during May – July. Therefore, the power plant will have revenue from selling electricity to the Provincial Electricity Authority (PEA) only from August to October, then shut down for maintenance in November and run again in December together with the production season of BSF. The net revenue paid to the Fund by the power plants in a monthly basis will have a designated calculation formula, when the power plants who are the asset manager receive revenue from selling electricity and steam, including other revenues, such as fines from related agreements, compensations from insurance company, etc., it will be deducted of expenses from power plant operations before paying to the Fund. The expenses from power plant operations will consist of actual expenses and expenses of power plant management in a package basis. The actual expenses will consist of expenses related to biomass raw materials, cost of RO & Condensate Water purchase, and other expenses, for example, insurance premiums, auditor fees, contributions to the Power Development Fund, etc., whereas the expenses of power plant management in a package basis will cover the annual maintenance expenses and major maintenance expenses which will be conducted every 3 years, including other administrative expenses, i.e. salary and other benefits of employees, overhead cost, consultant fee, corporate tax, rental fees for lands and buildings whered the power plants are located on, etc. In order to notify the background and information of the Fund since its establishment until present to all unitholders, the Management Company, therefore, deemed appropriate to present this agenda to the meeting for acknowledgment. The MC gave an opportunity to unitholders by self-attendance or by proxy to make additional inquiries in this agenda. Inquirer#1: Khun Wisatchana Ratanacharn, a unitholder by self-attendance Question 1: Does the Fund have an opportunity to invest, expand or purchase additional power plant(s)? and are there any limitations? Question 2: When do both power plants plan to shut down for maintenance? and approximately, how many percentages of revenues will be affected?

Page 5 Respondent: Miss Benchamartse, a representative from the Management Company Reply 1: The Fund can make additional investments if it is an asset that meets the main investment policy of the Fund and gives attractive returns; but at present, the Fund does not have any plan to make additional investments. Reply 2: Usually, the maintenance plan will be scheduled every Novembers; however, the maintenance period can be adjustable in order to operate the power plants to be in line with the production season and operational plan of BSF. The lost revenue during the maintenance period of the power plants was reflected in the estimation when established the Fund, therefore, the maintenance plan will not affect the estimated general revenues. Inquirer#2: Khun Narong Phuttharaksa, a unitholder by self-attendance Question: When the Fund is the right holder of future revenue from the operation of the power plant under the Net Revenue Transfer Agreement, the Fund, therefore, does not have a depreciation value due to not owning the asset, but why was the investment value of the Fund on 31 December 2018 remained at 3,402 Million Baht, decreasing approximately 188 Million Baht when comparing to the value at the establishment period which was 3,590.50 Million Baht. Will the investment value be decreased every year? Respondent: Miss Benchamartse, a representative from the Management Company Reply: Based on the principles of fund accounting, the asset is required to be annually appraised in order to be used for recording as a fair value in the financial statements, but the Fund’s structure seems as giving loans to the power plants, causing the asset to be appraised different from the assets of other funds. The asset of the Fund to be appraised is the remaining investment (or called as the remaining principal), therefore, the investment value that has been annually decreased will consist of the principal returned from investment and the loss from asset appraisals (if any). The principal returned from investment returns are the net revenues from the power plant operations that the Fund has received, but not recorded as revenues. The Fund has received the principal returned from investment in cash awaited to pay back to the unitholders, but not in the form of dividend. Inquirer#2: Khun Narong – made an additional inquiry Question: The Fund was requested to additionally explain that if the Fund still has cash that is a principal returned from investment awaited to pay to unitholders, the net asset value per unit (NAV) should not be significantly decreased; but if comparing to NAVs at the end of 2017 and at the end of 2018, they were 10.5982 Baht per unit, and 10.4337 Baht per unit, respectively, it can be seen that NAV was obviously declined, did it also reflect the reduction of total assets? Respondent: Miss Benchamartse - gave additional reply Reply: In case of decreased NAV, we would like to explain that NAV consists of the investment cost at 10.30 Baht per unit and the profit from the operation of the Fund, NAV shown in Page 6 the financial statements at the end of 2017 was not deducted the first dividend at 0.29 Baht per unit (which shall be presented in Agenda 3). After the dividend was paid, NAV will be reduced to be 10.30 Baht, and NAV will be increased again during the year due to the operational performance. Consequently, NAV at the end of 2018 was the sum of investment cost (10.30 Baht) and operating profit in the 4th Quarter of 2018 that has not paid out dividends. Therefore, the change of NAV is due to the movement of outstanding cash flows, not reflects that the total asset was decreased due to loss from the appraisal. However, Miss Benchamartse explained that on this point, if the unitholders still have questions, additional explanation will be in Agenda 3. Inquirer#3: Khun Thawatchai Phoworasoonthorn, a unitholder by self-attendance Question 1: How was the difference between the actual and estimated costs of raw materials such as bagasse, Condensate water, RO water, etc.? Will the Fund, in the future, have any risk from the actual costs of raw materials affect on the cost of the Fund? Question 2: The administrative expense of power plants includes 1-year & 3-year maintenance expenses for power plants in a lump-sum basis, it is understood that 1-year maintenance plan is included in this lump-sum expense, is the 3-year maintenance included in this lump-sum expense? and/or whether the Fund is required to additionally take responsibility for this expense or not? How? and will it affect the yield of investors? Question 3: Since the maintenance expense shall have both planned and unplanned expenses, was there any unplanned maintenance expense in this period? and why? It is understood that the unplanned maintenance expense shall affect on the revenue and expenses incurred. Respondent: Miss Benchamartse, a representative from the Management Company Reply 1: Based on the information in the prospectus, it is estimated that if the total revenue is 766 Million Baht, the cost of raw materials for biomass and water will be 242 Million Baht, or 31.5 percent of total revenue. However, `from the operational performance for 12 months since the establishment of the Fund in August 2017, it was found that the total revenue was lower than the estimate for approximately 2 percent, and the cost of biomass raw materials, 35 percent of the total revenue actually incurred in the past 12 months, was higher than the estimate for approximately 8 percent. The cost of biomass raw materials was not met the estimate, due to two reasons: the first one was that it was rainy season during the beginning period of investment, and the rainfall in that year was higher than usual, causing the bagasse to have high humidity and the power plants to consume more fuel than the estimate; the second one was that the fisrt year of investment in 2017, BSF could crush the canesugar for only 2.8 Million Tons, which was lower than the estimate, making BSF deliver the volume of bagasse after deducting its own use to the power plants rather equal to the demand of power plants, both reasons caused the power plants had higher cost of biomass raw materials than the estimate for approximately 3.5% during the first 12 months of investment, when comparing to the total annual revenue. Page 7 In addition, in the future, there shall be a possibility that the cost of biomass raw materials will not meet the estimate because: 1) the conditions of bagasse, a biomass raw material, shall be naturally different every year because each year, the grounds for planting sugarcane have different volume of minerals and the young plant of sugarcanes delivered from different areas caused the bagasse to have different chemical structure. The above reasons are the risk factors from biomass raw materials that have been normally happened; 2) the humidity of bagasses in the sugarcane crushing process is different every time, causing the fuel combustion rate different every year. However, the Fund has taken action by asking the power plants to control the quality of bagasse in terms of humidity levels in order to keep the combustion rate within the framework studied. Inquirer#3: Khun Thawatchai – additionally inquired the Asset Manager Question: In terms of the risk from the cost fluctuations of such raw materials, how will BRR manage the risk from raw materials for power plants to achieve better result in following years? Respondent: Mr. Pitak, a representative from the Asset Manager Reply: The raw materials were forecasted to be slightly inadequate in 2017, because the sugarcane planting areas had not met the plan, but in 2018, BSF increased the volume of crushed sugarcanes to be 3.1 million tons in accordance to the plan and shall always maintain this criterion. Also, the power plants are seeking the way to manage, control and supply the fuel to be available and proper to respond to the low quality of bagasse which had happened in 2017 for utmost saving of fuel consumption, this is the management for generating the returns of power plants. The involvement of BRR in part of the power plant’s returns from holding 33% of total investment units is in order to ensure the unitholders that the power plants shall be manged for the most benefits as well. Inquirer#3: Khun Thawatchai – additionally inquired the Asset Manager Question: Will the tendency of biomass raw material costs in 2019 be better when comparing to previous year? Respondent: Mr. Pitak – additionally replied. Reply: Based on the central information, it was found that the consumption of fuel has improved. Respondent: Miss Benchamartse, a representative from the Management Company Reply 2&3: The administrative expense of power plants according to the structure is the lump-sum payment that includes 3-year maintenance expense. However, the Fund has applied additional insurances for both industrial all risks insurance (IAR) and business interruption insurance (BI) to support the incident of excessive repair expense as well because if such event occurs and the Fund has not applied insurances, the power plants may impossibly be responsible in such risks and it may affect the revenue of the Fund.

Page 8 Khun Pornchalit additional replied that the Fund will not be affected by unexpected maintenance expenses because such expenses have been responsible by the power plants. But if there is an unexpected expense in case of disasters, the insurer have covered them. Inquirer#4: Khun Somchai Jensathiraphan, a unitholder by self-attendance Question 1: Have the power plants operated full production capacity? Whether the revenue at present could be more increased? If still unable to produce at full capacity, what is the cause? Question 2: As the representative of the Management Company said that the power plants have entered into an additional agreement with BSF to reduce the risk of raw materials, how have this agreement helped to reduce the risk of raw material shortage? Question 3: The revenues of the power plants are classified into revenue from power, revenue from low pressure steam and revenue from high pressure steam, when comparing to the total revenue, how are the proportions of each category? Question 4: As the Fund has invested in the right of future revenue and hired the Asset Manager to manage the power plants, how has the Fund determined compensation for the Asset Manager? Whether it is the compensation paid in accordance with the proportion of actual revenues or the compensation paid in lump-sum basis with fixed amount? If it is the compensation paid in lump-sum basis without performance criteria or without performance assessment of the Asset Manager in order to be actually consistent with the capability in generating income, the unitholders think that it is unfair to the Fund because the Fund is paid of compensation based on the actual revenues while the Asset Manager is paid of compensation in lump-sum basis without respossibility in outputs. Respondent: Miss Benchamartse, a representative from the Management Company Reply 1: Based on the criteria, the Very Small Power Producer (VSPP) is required to have a power generator with capacity less than 10 megawatts, BEC & BPC power plants are the VSPP with the maximum capacity of 9.9 megawatts, therefore, they are unable to expand more production capacity. Their existing production capacity shall be allocated to sell to the Provincial Electricity Authority (PEA) for 8.0 megawatts, to their own use for 1.5 megawatts, to sell to BSF for 0.25 megawatts, and remaining 0.15 megawatt is for reserves. In previous year, the production capacity for sale that the power plants can achive was 7.90 megawatts per hour in average, it was rather close to the volume to be sold to PEA at 8.0 megawatts. Their operational performances were satisfactory because with the general operation, the power plants have not been unable to produce electricity in full capacity at any time. If there is an interruption causing the production capacity reduced or there is a shut down, and then the plant resumes the operation, the production capacity for selling to Provincial Electricity Authority (PEA) shall not start at 8.0 megawatts, but it will gradually increase to reach 8.0 megawatts. This is a reason why the power plants are unable to operate their full capacity to produce power for selling PEA.

Page 9 Reply 2: The Agreement of Biomass Raw Material Purchase and Agreement of RO & Condensate Water Purchase are agreements related to the costs whereas the Power Purchase Agreement and Steam Purchase Agreement are agreements related to the revenues. Agreements related to the costs shall be clearly formulated of calculation on the prices of raw materials used in the production process, such as bagasse shall be set the starting price at 350 Baht. For example, if today, the price of bagasse in the market is traded at 400 Baht, the power plants shall be unable to collect the gap amount from the Fund, therefore, the risk of bagasse price volatility shall be reduced, however, the actual used unit is uncontrollable, depending on the rate of fuel consumption based on the quality of bagasse. RO & Condensate Water shall have a requirement to raise the price in accordanc with 3% of inflation rate and the power plants could not collect the gap amount from the Fund as well, therefore, the risk of costs is also prevented for the Fund. In case of revenues from the Agreement, based on the reply to Question 1 as mentioned above, it reflected that if the power is solely sold to PEA, the sales of electricity shall be possibly failed to meet the estimates. However, if there is a power purchase agreement with BSF, the revenues of the power plants shall be increased and closer to the estimates. Reply 3: It shall be replied in Agenda 2. Reply 4: The Fund has hired BEC & BPC to be Asset Managers with the compensation in a lump- sum basis. Khun Pitak jointly explained that the conditions of revenues and expenses in the Net Revenue Transfer Agreement and related agreements have been determined. In terms of revenues, the volumes of electricity to be produced and sold, and the amount of other revenues have been determined the minimum criteria for power plants, otherwise the fine shall be charged. The expenses to be paid in a lump-sump basis shall be included of salary for employees and various overheads with fixed amount and clearly specified throughout the agreement term, extra expenses shall be bear by BEC & BPC’s power plants. In addition, Miss Benchamartse also additionally clarified with a comparation that the Fund is like a company that invests in power plants and hires BRR to manage with salary, the compensation in a lump-sump basis is like salary, and the standard criteria of operation has been also specified in the Net Revenue Transfer Agreement (or employment agrement), such as running hours of generators, power production capacity, etc. If BRR’s production volume is below that specified criteria, it shall be charged of fines, it means, salary shall be paid for employment and bonus shall be additionally provided if having good performance, but power plants shall be paid of compensation in a lump-sum basis for management fee and shall be charged of fines if having performance below criterias, this is contrary to common employment. In case that the Asset Manager is provided of fixed compensation, but the Fund receives the actual revenue, whether it shall not be fair to the Fund or not. There is a real case recently occurred as example,

Page 10 the labor law announced the inceased of minimum wage and the power plant is quite affected by this incident because most of employees are stationed at the plant, resulting in higher expense of employee salary; but the power plant is unable to claim additional expense from the Fund because employee salary is included in the compensation to be paid in lump-sum basis that has been agreed in the agreement entered into with the Fund from the beginning. The power plants, therefore, have to be responsible for extra expenses by themselves. Consequently, the agreement with compensation to be paid in lump-sum basis, therefore, helps the Fund to limit its responsibilities. Although the power plants shall not receive a bonus if having good performance, the power plants shall receive a bonus through unitholding. If their management performance is good, the dividend shall be good. Therefore, this is a model that can control the operations of the power plants. When no unitholders or proxies additionally inquired or expressed opinions, then the MC moved to next agenda.

Agenda 2 To acknowledge the Fund’s operational performance and financial status for the year 2018

The MC invited Miss Benchamartse to report to the 2019 Annual General Meeting for acknowledgement on the Fund’s operational performance and financial status for the year 2018, Miss Benchamartse explained the Fund’s principals of accounting records and operational performance as following details: As the investment structure in net revenue of the Fund presented in the previous agenda, in the accounting approach, it is interpreted that the Fund provides loans to the power plants, when the power plants deliver the net income from the power plant operations to the Fund, that net income shall not be recorded as the Fund’s revenue in full amount, but recorded as the principle and interest paid by the power plants instead, therefore, when the Fund receives monthly revenue from the power plants, that amount of revenue shall be calculated to be interest with monthly IRR ratio, the amount after interest deduction shall be considered as a repaid principle used to gradually cut off in the investment cost of 3,590.50 Million Baht. When comparing the operational results of power plants that were delivered the Fund in 2017 and 2018, it can be seen that the net revenue had been increased from 119.53 Million Baht to be 427 Million Baht, representing 257.23% increased, however, there were only 5 months for the operational results of the power plants in 2017 was, if comparing the same duration and period, it was found that the operational results of power plants in 2018 was better than 2017 for 17.22%. According to the operating results of the power plants delivered in 2017, the Fund divided into revenue from investments (interest) amounting 114.20 Million Baht and principal returned from investments (principal) amounting 5.33 Million Baht, and in 2018, the Fund divided net revenue into revenue from investments (interest) amounting 262.48 Million Baht and principal returned from investments (principal) amounting 164.52 Million Baht. In conclusion, since the fund establishment, the accumulated revenue from investments and accumulated principal returned from investments were recorded of 376.68 Million Baht and 169.85 Million Baht, respectively. After the Fund recognized the investment revenues in 2017 amounting 114.20 Million Baht and in 2018 amounting 262.48 Million Baht, interests received from other deposits shall be included, then expenses of the Fund shall be deducted, such as management fees including Specific Business Taxe at 3.3% of investment revenues (because

Page 11 the investments of the Fund are interpreted as loans), resulting in the Fund’s net investment revenue before adjusting transactions from valuations in 2017 and in 2018 amounting 103.55 Million Baht and 236.88 Million Baht, respectively; and after adjusting net investment revenues with profit (loss) from valuation, the Fund paid the dividend to the unitholders. Based on the said operational performances of the Fund, as of 31 December 2017 and 31 December 2018, the Fund had net assets of 3,709.37 Million Baht and 3,651.82 Million Baht, respectively, equivalent to NAV at 10.5982 Baht and 10.4337 Baht, respectively. (Reply for Question 3 was in Agenda 1) The revenue portions of power plants by classifications of revenues during forecast preparation period were expected as follows: the revenue from power at 74% , revenue from high pressure steam revenue at 9% and revenue from low steam pressure at 17 tons per hr, but based on the actual operational performance comparing for 12 months, it was found that the revenues from power, high pressure steam and low steam pressure were 72%, 15% and 12%, respectively, which are all close to the forecast. In this regard, the performance of the mutual fund according to the 2018 annual report and the financial statements of the mutual fund ended on 31 December 2018 is accurated. In accordance with the requirements of the prospectus, the performance of the Fund in the Annual Report of 2018 can be summarized as follows:

Particulars 2018 (Unit: Million Baht) Balance Sheet Total Assets 3,654.64 Total Liabilities 2.82 Net Assets 3,651.82 Net Assets per Unit (Baht 10.4337 Profit and Loss statement Total Revenues 264.17 Total Expenses 27.29 Net Investment Reveneue 236.88 Increase in Net Assets from Operations 217.41 Cash Flow Statement Cash provided from Operating Activities - Net 274.63 Cash provided from Financing Activities - Net (274.96) Bank Deposit Increase - Net (0.33) Bank Deposits at Beginning of the Period 7.85 Bank Deposits at Ending of the Period 7.52

The MC provided an opportunity to all unitholders and proxies to additionally inquire in this agenda. Inquirer#5: Khun Thawatchai Phoworasoonthorn, a unitholder by self-attendance Question: The information on the revenue structure of the power plant as Miss Benchamartse Page 12 explained showed the comparison between the proportion of that revenue category and total revenue, it may have deviation because the actual total revenue is less than the estimated total revenue, he would like to ask for information of each category of revenues in a monetary form, then we can clearly see which category of revenues caused the actual total revenue less than the estimated total revenue? Respondent: Miss Benchamartse, a representative from Management Company Reply: The sole reason why actual total revenue was less than the estimated total revenue was from the revenue from power, the actual revenue of power was less than the estimate by 4.7% , while the actual revenues of high-pressure and low-pressure steams are higher than the estimates by 1%. Since the first 5 months of the Fund’s investement in power plants, the bagasses had high humidity, resulting in the shut down of power production process and fuel conveyor, as it could be seen in the average power production capacity per hour was at 7.78 megawatts, therefore, the revenue from power was not achieved the estimate, whereas the revenues from steams were higher than the estimates because BSF’s crushed sugar was slightly higher than the plan, then more steams were needed. When no unitholders or proxies additionally inquired or expressed opinions, then the MC moved to next agenda.

Agenda 3 To acknowledge the dividend payment for the year 2018

The MC invited Miss Benchamartse to report to the 2019 Annual General Meeting for acknowledgement of the dividend payment for the year 2018 with following details: The Fund has a policy to provide unitholders minimum 2 dividend payments per year with a total dividend amount not less than 90 percent of adjusted net profit in each fiscal year, by paying within 90 days from the end of the accounting period in which that dividend payment is made. The “adjusted net profit” means the net profit is deducted of unrealised gains provided from asset appraisals, deduction of various reserves as specified in the fund management scheme and prospectus. The Fund may pay dividends to unitholders from retained earnings; however, the dividend shall not be paid if the accumulated loss exists. Since the establishment of the Fund in August 2017, the Fund already announced 4 dividend payments, the first dividend payment was from the net profit in 2017 at 0.29 Baht per unit, representing a dividend rate of 6.72% per year (compared to Par value at 10.30 Baht) and other 3 dividend payments were from the net profit in 2018 and retained earnings at 0.62703 Baht per unit, representing a dividend rate of 6.09% per year (compared to Par value at 10.30 baht). The dividend payment ratios compared to the adjusted net profit of 2017 and 2018 were 98.02% and 100.94%, respectively. The Management Company has considered that the dividend payment is accurate and appropriate with the following summary of main points on the dividend rates paid in each period of operational performance since establishment:

Page 13

The MC provided an opportunity to all unitholders and proxies to additionally inquire in this agenda. Inquirer#6: Khun Somchai Jensathiraphan, a unitholder by self-attendance Question: Why have the actual rate of dividend payment not corresponded to the estimated rate of dividend payment during the first 12 months as stated in the prospectus? Based on the information listened in the Road Show event for initial public offering, a financial advisor estimated that the Fund shall pay dividend at the rate of 7% per annum. Respondent: Miss Benchamartse, a representative from Management Company Reply: If based on the 12-month forecast data in the prospectus, the dividend amount approximately 413.65 Million Baht expected to be paid to unitholders shall be divided into: 1) the net investment revenue that shall be paid as dividends for approximately 228.65 Million Baht, accounting 6.34%; and 2) the principal returned from investment in the form of capital decrease for approximately 185 Million Baht, accounting 5.13%. In overview, it has been expected to have a total of 11.47% to be paid to unitholders, which is close to the estimates of 11.40-11.50% showing in the document distributed in the Road Show event, but the differences are portions of dividends and capital decrease. However, according to the actual operational performance, the dividend was paid at 6.76% and the capital decrease at 3.50% has not been paid.

Inquirer#7: Khun Prasart Wilaikaew, a unitholder by self-attendance Question: The estimates of returns for the first 12 months have been provided earlier that the capital decrease shall be paid at 4.7% and this amount has been prepared, but it appeared that the payment has not yet made, causing unitholders not confident and dispose investment units, the price of BRRGIF was decreased and nobody is interested to buy. Why the payment of capital decrease has not been paid? Why the payment of

Page 14 capital decrease has been delayed? Why is the payment of capital decrease not made earlier same as other funds in order to prevent the lower price of BRRGIF in the Stock Exchange? Also, some unitholders who disposed their units due to losing confidence in the Fund shall be more disadvantageous than the existing unitholders or new unitholders because they shall not recieve capital decrease in the future, even this capital decrease was arisen from 2017 until 2019. Respondent: Miss Benchamartse, a representative from Management Company Reply: Considering the prospectus in case of the amount generated by the loss from appraisal, returned principal and remaining excess liquidity after asset disposal and dividend payment, the Fund could made payments of such amount in the form of capital decrease, but since Legal Department of the Management Company has warned against this matter, then the Fund Manager was so worried and considered to delay the payment of capital reduction, due to following reasons: 1) the Notification from the Director-General of the Revenue Department that the tax exemption for 10 years is effective for dividend tax, capital decrease has not been mentioned in this Notification; 2) Section 40 (4)d of the Revenue Code states that capital decrease payment which does not exceed the total amount of retained earnings shall be included as an income for tax purposes, as shown in below figure.

However, Khun Prasart commented that this inclusion for tax payment shall not cause any damage to unitholders because they can request for tax refund in the beginning of the year. Therefore, if the Fund pays capital decrease from the first 12 months, most unitholders shall not dispose their units, causing the investors who buy investment Page 15 units at lower price from those who dispose to take advantages, because capital decreaseshall be paid to investors who buy investment units from ex-unitholders. Miss Benchamartse delivered her apology to all unitholders on failure to focus on the advantage and disadvantage in this issue because the Fund has thoroughly provided information to all unitholders, those new unitholders do not have more information than ex-unitholdrs, unitholders also take part in decisions. In addition, all unitholders are provided of opportunites to call or contact the Management Company, and actually, Miss Benchamartse also provides information to each unitholder as much as requested by unitholders. However, the tax refund in the beginning of the year may be possible for unitholders who have income lower than creteria of taxable income, but unitholders who have high income that is subject to pay tax may be affected by the interpretation of the said section. The Fund, has therefore, considered the protection on a decrease of the capital holdings from meeting the criteria of taxable income from the beginning should be beneficial to all unitholders. However, Khun Prasart expressed an opinion that if the unitholders receive the paymentf of a capital decrease from 2018 and bring this amount to invest and receive interest until the present, it will be worth the tax to be paid. Khun Prasart inquired to confirmed that whether the new unitholders shall be paid of capital decrease of 2018 which has been accrued and a capital decrease of 2019 or not, and if so, the ex-unitholders shall be disadvantageous, is it right? Miss Benchamartse further explained that what the unitholders understand is correct, current unitholders shall be paid of all capital decrease, ex-unitholders shall not be paid. In addition, the unitholders are reconfirmed that capital decrease is possible to be calculated of income tax according to the information mentioned earlier. Those who are directly damaged is unitholders, therefore, the Fund has tried to protect the benefits of all unitholders because the Fund could not know the income base and taxation of all unitholders, Consequently, the Fund considers it is to cut off the risk by preventing all unitholders to not encounter this issue. However, the Fund already sent a letter to discuss this issue with the Revenue Department and continuously followed up the answer, at present, the Revenue Department has not yet replied. Yet, the Fund has a way to cut off this risk, if any unexpected event is happened, the Fund may pay capital decrease together with the next dividend payment. The sources of capital decrease amounting 172 Billion Baht, approximately, to be expected to pay to the unitholders shall consist of the principal returned from investment, the cost of issuing and offering the investment units, and excess liquidity generated by the loss from appraisal. Inquirer#8: Khun Wisatchana Ratanacharn, a unitholder by self-attendance Question 1: Please clarify whether the Fund shall pay capital decrease within this year or not? Question 2: Will the exemption of dividend for personal income tax for 10 years be effective from the date of dividend payment or the establishment date of the Fund? Respondent: Miss Benchamartse, a representative from Management Company Reply 1: The Fund expects to pay capital decrease within this year. Reply 2: The exemption of dividend for personal income tax for 10 years will be effective from the establishment date of the Fund. Page 16 Inquirer#9: Khun Narong Phuttharaksa, a unitholder by self-attendance Question: The dividend was original expected to have 2 payments per year, but there were 3 dividend payments last year, is there any tendency to have 4 dividend payments this year in a quarterly basis? Respondent: Miss Benchamartse, a representative from Management Company Reply: The Fund is planning to have 4 dividend payments per annum. When no unitholders or proxies additionally inquired or expressed opinions, then the MC moved to next agenda.

Agenda 4 To acknowledge the appointment of auditors and the audit fees for the year 2019

The MC invited Miss Benchamartse to report to the 2019 Annual General Meeting for acknowledgement on the appointment of auditors and the audit fees for the year 2019 with following details: In 2019, the Management Company has appointed an auditor from PricewaterhouseCoopers ABAS Ltd. to be the authorized auditor of the Fund, the Auditor for the year 2017, the establishment year and for the year 2018 were audirots from PricewaterhouseCoopers ABAS Ltd., the authorized auditor of the Fund for the year 2019 include: 1. Miss Sukhumaporn Wong-ariyaporn, Certified Public Accountant Registration No. 4843; and 2. Mr. Prasit Yuengsrikul, Certified Public Accountant Registration No. 4174; and 3. Mr. Sa-nga Chokenitisawat, Certified Public Accountant Registration No. 11251. The above Auditors have been the Auditor of the Fund as follows:

The auditor's fees for the year 2019 is 1,500,000 Baht, which is equal to the audit fees in 2018 and in 2017 if compared in a full fiscal year basis. In addition, in the event those auditors are unable to perform their duties, PricewaterhouseCoopers ABAS Ltd. will assign another of its auditors to perform the auditing and give opinionon the Fund’s financial statments instead of these auditors listed above.

Page 17 The Management Company considered that Auditors from PricewaterhouseCoopers ABAS Ltd. have appropriately performed their duties and have no relationship or interest with the Fund with independence to perform their duties, therefore, deemed appropriate to appoint the auditors from PricewaterhouseCoopers ABAS Ltd. listed as followed: 1. Miss Sukhumaporn Wong-ariyaporn, Certified Public Accountant Registration No. 4843; and 2. Mr. Prasit Yuengsrikul, Certified Public Accountant Registration No. 4174; and 3. Mr. Sa-nga Chokenitisawat, Certified Public Accountant Registration No. 11251. to be the auditors of the Fund for the year 2019 and deemed appropriate to determine the auditor's fees for the year 2019 amounting 1,500,000 Baht. In the event those auditors are unable to perform their duties, PricewaterhouseCoopers ABAS Ltd. will assign another of its auditors to perform the auditing and give opinionon the Fund’s financial statments instead of these auditors listed above, and deemed to report to the 2019 Annual General Meeting of Unitholders for acknowledgement. The MC provided an opportunity to all unitholders and proxies to additionally inquire in this agenda. When no unitholders or proxies additionally inquired or expressed opinions, then the MC moved to next agenda.

Agenda 5 To consider other subjects (if any)

The MC provided an opportunity to all unitholders and proxies to additionally inquire in this agenda. Inquirer#10: Khun Somchai Jensathiraphan, a unitholder by self-attendance Question 1: In terms of raw materials purchased from BSF, the sugar consumption shall be reduced since the government has a policy to control the sweetness for public, whether it is possible to cause the shortage of raw materials used in the power production? and if so, is there any other raw materials to replace bagasse? According to the agreement, can the power plants buy raw materials from other sources apart from BSF? Whether the Fund considers to find other sources of raw materials to replace if the shortage is happened? Question 2: For the agreements with 2 power plants that will be terminated in 10 years and 16 years, respectively, how to amortize the investment in power plant? Will the investment in the first power plant with 10-year agreement term be returned first and remain the portion of the 2nd power plant with 16-year agreement term? Respondent: Khun Pitak, a representative from Asset Manager Reply 1: For the concern on the shortage of raw materials due to the reduction of sugar consumption, it is the situation happened in Thailand only, although Thai market demands less sugar, the global market still demands sugar. Moreover, BSF is ready for any production, therefore, it is confident that the fuel from sugar crushing process shall be sufficient. In addition, the biomass raw material agreement has not only specific requirements on the trading price, but also requirements on that minimum volume to be supplied by BSF that is adequate for the consumption of power production. However, the power plants jointly invested by the Mutual Fund is biomass power plants that can use Page 18 other fuels to replace, if there are other cheaper fuels with higher production efficiency in the future, such as bark, sugarcane peel, these may be alternatives. Respondent: Miss Benchamartse, a representative from Management Company Reply 2: Khun Somchai’s understanding is correct, since the investment value of 10.30 Baht per unit has been placed to both power plants, the investment in the first power plant will be returned until completion in the year 2028 when the agreement term is due, and the remaining amount will be the investment in the second power plant, it means, capital reducing that is expected to be annually returned consists of the investments in both power plants. After the agreement term of the first plant was terminated, 2028, capital decrease that will be gradually returned will have the investment of the second power plant only. Inquirer#10: Khun Somchai – further inquired. Question: At present, what raw materials can the biomass power plant use to replace bagasse? if none, is there any future plan? Respondent: Khun Pitak – further replied. Reply: At present, the power plant uses bagasse as the main fuel and the design of the power plant is primarily prepared for the use of bagasse. However, the power plant can use other raw materials, such as bark, but used as a mixture ratio, not 100%. Inquirer#11: Khun Thanut Udomhiran, a proxy of Mr. Monchai Udomhiran, a unitholder Question: In previous year, a large number of sugarcane burns caused the sugarcane no leaves, and now is a dry season, causing the sugarcane tree has a small trunk, will this affect the production volume? How? Respondent: Khun Pitak, a representative from the Asset Manager Reply: 1 ton of sugarcane entered into the sugar crushing process will remain bagasse in proportion of approximately 28 percent, therefore, either burned sugarcane or cut sugarcane will provide bagasse as per the proportion of sugarcane entering the process at 28 percent. BSF also promotes to not burning sugarcane farm because cutting fresh sugarcane shall remain sugarcane leaves for using as fuel, and BSF has also started to test the use of sugarcane leaves in power plants as an alternative raw material to sufficiently serve the power plants. Inquirer#12: Khun Wisatchana Ratanacharn, a unitholder by self-attendance Question 1: As the Fund expects to pay capital decrease to unitholders for approximately 172 Million Baht, will the Fund pay in one time or by dividing into a quarterly basis? If capital decrease can be paid in following years, will the Fund annually pay it? Question 2: Is a 1-month maintenance shutdown in November the annual maintenance shutdown? and is there any other big maintenance required longer shutdown?

Page 19 Question 3: Will BRR have a new power plant? and if so, will BRR plan to sell to the Fund? Respondent: Miss Benchamartse, a representative from Management Company Reply 1: The Fund will try to consider to pay capital decrease to all unitholders as soon as possible, it is possible to pay it by May together with the dividend payment from the operational result of the first quarter. In following years, if there is capital decrease, the Fund will try to pay it together with the dividend, except capital decrease is less than 0.10 Baht, it may be reserved of right as same as the dividend payment criteria in the prospectus that the dividend may not be paid if it is less than 0.10 Baht because the cost may be higher than the amount paid to unitholders, causing not worth to proceed. Reply 2: There is only the annual maintenance shutdown, but its maintenance program shall be considered by concerning on how scale it is, small or big, depending on the inspection of the power plants to judge of maintenance condition. Respondent: Khun Adul, a representative from the Asset Manager Reply 3: Presently, BRR has 3 power plants, 2 of them are sold to the Mutual Fund and another one is for their own use. However, that power plant for their own use and operation cannot be offered to the Mutual Fund because the Provincial Electricity Authority (PEA) has not yet opened power producer bidding, therefore, there is no PPA that will be proposed to the Fund for consideration. However, if there is the said PPA, BRR will consider to offer the power plant to the Fund, but it depends on whether the Management Company will jointly consider or not. Khun Pornchalit additionally replied that the Management Company is quite open to consider the incoming assets because the benefits from incoming assets entering the Fund shall be mainly for the unitholders. However, the Management Company must consider the details of those incoming assets and be confident that they are worthwhile to accept such assets into the Fund. The Management Company opens to accept the assets proposed by all companies for investment without limitation to solely invest in BRR power plants, on the other hand, BRR's power plants shall be offered to the Fund first only. Inquirer#12: Khun Wisatchana – further inquired. Question: It is heard that BRR plans to expand the sugar factory in the future, is there any opportunity to use raw materials or bagasse from this new sugar factory in the existing power plants of the Fund? Respondent: Khun Pitak – further replied Reply: The existing sugar factory is preparing adequate fuel to serve the demand of both power plants for the whole year because fuel from other suppliers shall have costs of transportations, therefore, the company has no plan to find raw materials from other suppliers because the good management of cost and operation shall also result in the Page 20 good performance of the power plant. However, if in the future the company has a license to expand sugar factories in other areas, the management model of BSF at present shall be maintained and utilized in order to have integrated management. Khun Adul also added that in the Undertaking Agreement, it clearly stated that if BRR has a new power plant, the Fund must consider first in order to be unable to set up a new fund. In addition, if the sugar factory is expanded, that new sugar factory must be at least 50 kilometers away from the existing sugar factory in accordance with the Cane and Sugar Act B.E. 2527 (1984), in order to prevent the competition of sugarcane production. Therefore, using the bagasse from that new sugar factory shall have a transportation cost, affect the cost of power production; however, the existing sugar factory is adjacent to the power plant, therefore, a transportation cost is minor and cause not much transportation cost. Inquirer#13: Khun Thawatchai Phoworasoonthorn, a unitholder by self-attendance Question: As mentioned earlier that the dividend payment will be made together with the payment of a decrease of the capital holdings, it means that the Mutual Fund shall pay the accumulated profit first, then the remaining amount will be a decrease of the capital holdings to solve the problem of interpretation in Section 40 (4) d announced by the Revenue Department, is it right? Respondent: Miss Benchamartse, a representative from Management Company Reply: Yes, it is, below figure shall be a reference for explanation.

Page 21 Based on Section 40 (4) of the Revenue Code, if the Fund has 100 Baht in cash with a source from capital decrease, in the case that the Fund has retained earnings of 20 Baht, which may be retained earnings from the appraisal that is just a number, if the Fund pays 100 Baht in cash to the unitholders in the form of capital decrease, the unitholders may include the amount equal to retained earnings that is 20 Baht, into taxable income. The Fund, therefore, tries to prevent the unitholders from this tax burden by making the Fund to have no retained earnings. The operating result at the end of the year 2018, the Fund had loss from appraisal, causing retained earnings from the appraisal that is just a number to have cash from excess liquidity to be paid as dividends to unitholders. The Fund will not have retained earnings and capital decrease can be paid to unitholders. However, in the future, if there is retained earnings generated by from the appraisal again (as shown in the figure), the Fund has a guideline to proceed by dividing 100 Baht in cash to be paid as dividends (generated by retained earnings) for 20 Baht and paid as capital decrease for 80 baht, this will be occurred during 10 years that the unitholders are still exempted of tax from dividends. In overall, the unitholders will be more benefited of tax. Capital decrease for next time in each quarter (not lower than 0.10 Baht) will be paid together with the dividend, which will increase the cash yield in each quarter as well. Khun Thawatchai said that an investor suggested about the efficiency of the power plant that if there is SIOA or the Factory Management, it should follow the way that the Electricity Generating Authority of Thailand (EGAT) conducts in the form of SPP, VSPP and IPP, meaning that during the operational hours of power plant, there are Availability Payment and Energy Payment, which have a median factor that EGAT considers as having a certain level of efficiency. If the power plant can economize from making Energy Payment, it is a benefit for the power plant. Therefore, in the future, in addition to the agreement by lump-sum expenses, the power plant should be shared of incentive in terms of the profit that is increased due to the fuel consumption less than the estimate, it is to motivate factories to find ways to reduce production costs so that power plants and the Fund can benefit together. A representative from the Management Company showed appreciations to the suggestions from the unitholders, and Khun Pitak explained that Buriram Sugar Group has continuously considered and reviewed the production efficiency, and during previous year, there were guidelines for the production process, there are some technologies that are considered to be invested for using, which will help to increase the revenue efficiency. The Management Company had been consulted that if there is more revenue under the condition that the power plant will give additional investment apart from those specified in the Net Revenue Transfer Agreements with the Fund, how will the power plant be shared of additional revenues? But since this condition is under consideration on its details, because the conditions in the prospectus and in the agreements may be amended as well. Inquirer#14: Khun Wijittra Kuekoonwong, a proxy of Thai Investors Association Question: How many unitholders in these 350 million units? Because the association wishes to allow the unitholders to attend the meeting more than a number of attending unitholders in the meeting today. Respondent: Miss Benchamartse, a representative from Management Company Reply: There are approximately 2,500 unitholders with reference to the information as of the Book Closing Date on 29 March 2019.

Page 22 Khun Pornchalit added that the reason for a small number of attending unitholders may be due to the first meeting, next year, if the unitholders have more understanding, they are more likely to inquire more questions and have more interest to attend the meeting. When no unitholders raised any additional queries or expressed opinions, and no other matter was proposed to the meeting for consideration, therefore, the Chairman delivered his gratitude to all unitholders and stated to close the 2019 Annual General Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF).

The Meeting was adjourned at 11.47 hrs.

Respectfully yours,

(Mr. Pornchalit Ploykrachang) Deputy Managing Director Real Estate & Infrastructure Investment

Page 23 Attachment 4

Summary of Comparison of the Essential Proposal regarding the Amendments to the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing

Subject Agreement dated on 2 August 2017 Amendment to the Agreement (No.1)

1. Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing (the “Agreement”)

1.1 Purchase Price of Biomass Raw Specified in Attachment 4 of the Agreement. Amendment: Attachment 4 of the Agreement dated 2 August Material 2017 which will be amended to “the parties to the Agreement agree that the purchase price is based on the market price as specified from time to time” 1.2 Details of Calculation of the Bagasse Specified in Attachment 8 of the Agreement, where Amendment: The bagasse price in the calculation of bagasse Fine the bagasse price in the fine calculation formula shall fine shall be based on existing bagasse price calculation be based on the bagasse price specified in formula specified in Attachment 4 of the Agreement dated on 2 Attachment 4. August 2017 prior to the amendment in item 1.1 above.

Attachment 6

Procedures for Registration, Attendance of the Meeting and Proxy Granting for the 2020 Annual General Meeting of Unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) 26 June 2020, at 10.00 a.m. ______

1. Registration - Unitholders or proxies can register and submit required documents for examination and confirmation of their participation at the meeting venue from 09.00 a.m. on 26 June 2020. For convenience of registration, please bring the Registration Form and present the registration staff at the date of the meeting.

2. Participation in Person

(1) As a natural person - Present an original of a valid ID card or a Government ID card, or a passport of the unitholders (in case of foreign unitholder). (2) As a juristic person - The juristic person registered in Thailand shall submit a copy of the affidavit, certified true and correct copy by authorized person and affixed with the company seal (if any). - The juristic person registered in a foreign country shall submit the affidavit as a juristic person issued by a relevant authority in a particular country where the juristic person is located. In case those documents are expressed in other languages than English, a foreign juristic person shall prepare and enclose English translation of such documents, certified true and correct by authorized person(s) of a juristic person. - The authorized persons of a juristic person as provided in the affidavit shall present an original of a valid ID card or Government ID card, or passport (for foreign authorized persons) for registration.

3. Granting of Proxy - Each unitholder shall grant only one proxy to participate and cast vote on his/her behalf in the meeting, by using the Proxy Form B (for general investors), or Proxy Form C (for investors whose names are appeared in registration book of the unitholders as foreign investors and having custodians in Thailand), as attached.

Attachment 6 Page 1 Attachment 6

- For convenience, please send the Proxy Form and documents or evidences to the Management Company at least 1 business day in advance, by filling the information completely and signing the Form. Should there be any significant correction or deletion, unitholders so granting the proxy shall sign his/her name at every corrected/deleted spot. The Proxy Form shall be affixed with Baht 20 of stamp duty.

Required Documents for Proxy Appointing

(1) In case of a natural person, the grantor so granting the proxy shall submit the following documents: - The Proxy Form signed by the grantor and the proxy and affixed with Baht 20 of stamp duty. - A copy of a valid ID card or a Government ID card, or passport (for foreigners so appointing the proxies) of the grantor, certified true and correct copy by such grantor; and - A copy of a valid ID card or a Government ID card, or passport (in case of foreign proxies) of the proxy, certified true and correct copy by the proxy.

(2) In case of a juristic person, the grantor so appointing the proxy shall submit the following documents: - The Proxy Form signed by authorized person(s) of a juristic person according to the affidavit, and affixed with the company seal (if any), signed by the proxy and affixed with Baht 20 of stamp duty. - A copy of a valid ID card or a Government ID card, or a passport (for foreigners so appointing the proxies) of the authorized person(s) who signed the Proxy Form, certified true and correct copy by such authorized person(s); - In case the grantor is a juristic person registered in Thailand, shall submit a copy of the affidavit (issued not more than 6 months), certified true and correct copy by authorized person(s) and affixed with the company seal (if any); - In case the grantor is a juristic person registered in a foreign country, shall submit the affidavit as a juristic person issued by a relevant authority in a particular country where the juristic person is located; - A foreign juristic person whose documents are expressed in other languages shall prepare and enclose English translation of such documents, certified true and correct of such translation by authorized person(s) of a juristic person; and

Attachment 6 Page 2 Attachment 6

- A copy of a valid ID card and/or a Government ID card, or passport (in case of foreign proxies) of the proxy, certified true and correct copy by the proxy. (3) In case of foreign unitholders who have a Custodian in Thailand - Prepare the documents and present the documents as in the case of the unitholder is a juristic persons - The Proxy Form from foreign unitholder to appointing Custodian to execute the proxy on his/her behalf. - Document confirming that the Custodian has the permission to conduct the Custodian business - In case of foreign institutional investors who appoint domestic commercial banks act as custodian, specified internal policies and already proceeded internal policies of Know Your Customer (KYU) and Customer Due Diligence (CDD), along with complying regulations of Bank of Thailand and Ministerial Regulations on Customer’s Facts Investigation B.E. 2556. The Management Company deemed appropriate that the proxy may exercise any right as a proxy without requirement of additional identification documents.

Attachment 6 Page 3 ส่ิงที่ส่งมาดว้ ย 7 แบบ ข Attachment 7 Form B. หนังสือมอบฉันทะ PROXY

เขียนที่ Written at วันที่ เดือน พ.ศ. Date Month Year

(1) ข้าพเจ้า สัญชาติ I/We nationality อยูบ่ า้ นเลขที่ ถนน ตาบล/แขวง Reside at Road Tambol/Khwaeng อาเภอ/เขต จังหวัด รหัสไปรษณีย์ Amphur/Khet Province Postal Code เบอร์โทรศัพท์ที่สามารถติดตอ่ ได.้ ...... Contact Telephone Number

(2) เป็นผูถ้ ือหน่วยลงทุนของกองทุนรวมโครงสร้างพ้ืนฐานโรงไฟฟ้ากลุม่ น้า ตาลบุรีรัมย ์ (BRRGIF) โดยถือหน่วยลงทุนจา นวนท้งั สิ้นรวม หน่วย being a unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) holding the total amount of units, และออกเสียงลงคะแนนไดเ้ ทา่ กบั เสียง and having the right to vote equal to votes.

(3) ขอมอบฉันทะให้ Hereby appoint  อายุ ปี อยูบ่ า้ นเลขที่ age years, reside at ถนน ตาบล /แขวง อาเภอ /เขต Road Tambol/Khwaeng Amphur/Khet จังหวัด รหัสไปรษณีย์ Province Postal Code

 หรือ ผู้จัดการกองทุน or the fund manager, namely นางสาวเบญจมาฑฐ์ จรูญวงศ์นิรมล อายุ 43 ปี อยูบ่ า้ นเลขที่ 175 อาคารสาธรซิต้ี ช้นั 7 ช้นั 21 และช้นั 26 Ms. Benchamartse Jroonwongniramal age 43 years, reside at 175 Sathorn City Tower, 7th,21st and 26th Floor ถนน สาทรใต้ ตาบล/แขว ง ทุง่ มหาเมฆ อาเภอ/เข ต สาทร Road South Sathorn Tambol/Khwaeng Thungmahamek Amphur/Khet Sathorn จังหวัด กรุงเทพมหานคร รหัสไปรษณีย์ 10120 Province Bangkok Postal Code 10120

คนหนึ่งคนใดเพียงคนเดียวเป็นผู้แทนของข้าพเจ้าเพื่อเข้าประชุมและออกเสียงลงคะแนนแทนข้าพเจ้าในการประชุมสามัญผูถ้ ือหน่วยลงทุน ประจ าปี 2563 ในวันที่ 26 มิถุนายน 2563 เวลา 10.00 น. ณ ห้องคราวน์ บอลรูม ช้นั 21 โรงแรม คราวน์พลาซ่า กรุงเทพฯ ลุมพินีพาร์ค เลขที่ 952 ถนนพระรามสี่ แขวงสุริยวงศ์ เขต บางรัก กรุงเทพมหานคร 10500 หรือที่จะพึงเลื่อนไปในวัน เวลา และสถานที่อื่นด้วย Any one of them to be my/our proxy to attend and vote on my/our behalf at the 2020 annual general meeting of unitholders on 26 June 2020 at 10 a.m. at Crowne Ballroom , 21th Floor, Crowne Plaza Bangkok Lumpini Park Hotel, No.952 Rama IV Road, Suriyawong, Bangrak, Bangkok 10500 or any adjournment at any date, time and place thereof.

(4) ขา้ พเจา้ ขอมอบฉนั ทะใหผ้ ูร้ ับมอบฉนั ทะออกเสียงลงคะแนนแทนขา้ พเจา้ ในการประชุมคร้ังน้ี ดงั น้ี I/We hereby authorize the proxy to vote on my/our behalf at this meeting as follows:

(1) วาระที่ 1 รับทราบรายงานการประชุมผู้ถือหน่วยลงทุนของกองทุนรวมโครงสร้างพืน้ ฐานโรงไฟฟ้ากลุ่มน า้ ตาลบุรีรัมย์ (BRRGIF) ครั้งที่ผ่านมา

Agenda No. 1 To acknowledge the minutes of past meetings of unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF)

(2) วาระที่ 2 รับทราบการจัดการกองทุนรวมในเรื่องทสี่ าคญั และแนวทางการจัดการกองทุนรวมในอนาคต

หน้า 1 ของจานวน 3 หน้า Page 1 of 3 ส่ิงที่ส่งมาดว้ ย 7 แบบ ข Attachment 7 Form B. Agenda No. 2 To acknowledge the significant management of the Fund and the management guideline in the future

(3) วาระที่ 3 รับทราบผลการดาเนินงาน งบแสดงฐานะทางการเงิน และ งบกา ไรขาดทุน ส าหรับปี 2562 ของ กองทุนรวม Agenda No. 3 To acknowledge the operating performance, the Financial Statements and the Income Statement of the Fund for the year 2019

(4) วาระที่ 4 รับทราบการจ่ายเงินปันผลและการลดทุน ส าหรับปี 2562 Agenda No. 4 To acknowledge the payment of dividends and capital reductions for the year 2019

(5) วาระที่ 5 รับทราบการแต่งต้งั ผ้สู อบบัญชี และค่าใช้จ่ายในการสอบบัญชี ส าหรับปี 2563 Agenda No. 5 To acknowledge the appointment of auditors and the audit fees for the year 2020

(6) วาระที่ 6 พจิ ารณาอนุมตั กิ ารให้ความยนิ ยอมแก้ไขสัญญาซื้อขายวตั ถุดบิ ชีวมวลในการผลติ ไฟฟ้าและไอน า้ Agenda No. 6 To consider and approve the amendments to the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing ก) ให้ผู้รับมอบฉันทะมีสิทธิพิจารณาและลงมติแทนข้าพเจ้าได้ทุกประการตามที่เห็นสมควร (a) To grant my/our proxy to consider and vote on my/our behalf as he/she may deem appropriate in all respects.

(ข) ให้ผู้รับมอบฉันทะออกเสียงลงคะแนนตามความประสงค์ของข้าพเจา้ ดงั น้ี (b) To grant my/our proxy to vote as per my/our intention as follows:  เห็นด้วย  ไมเ่ ห็นดว้ ย  งดออกเสียง Approve Disapprove Abstain

(7) วาระที่ 7 พิจารณาเรื่องอื่น ๆ (ถ้ามี) Agenda No. 7 Other matters (if any)  (ก) ให้ผู้รับมอบฉันทะมีสิทธิพิจารณาและลงมติแทนข้าพเจ้าได้ทุกประการตามที่เห็นสมควร (a) To grant my/our proxy to consider and vote on my/our behalf as he/she may deem appropriate in all respects. (ข) ให้ผู้รับมอบฉันทะออกเสียงลงคะแนนตามความประสงคข์ องขา้ พเจา้ ดงั น้ี (b) To grant my/our proxy to vote as per my/our intention as follows:  เห็นด้วย  ไมเ่ ห็นดว้ ย  งดออกเสียง Approve Disapprove Abstain

(5) การลงคะแนนเสียงของผูร้ ับมอบฉันทะในวาระใดที่ไม่เป็นไปตามที่ระบุไวใ้ นหนงั สือมอบฉันทะน้ีให้ถือวา่ การลงคะแนนเสียงน้ันไม่ถูกตอ้ งและ ไม่ใช่เป็นการลงคะแนนเสียงของขา้ พเจา้ ในฐานะผูถ้ ือหน่วยลงทุน Voting of the proxy in any agenda that is not as specified in this Proxy Form shall be considered as invalid and not my/our votes as a unitholder.

(6) ในกรณีที่ขา้ พเจา้ ไม่ไดร้ ะบุความประสงคใ์ นการออกเสียงลงคะแนนในวาระใดไวห้ รือระบุไวไ้ ม่ชดั เจน หรือในกรณีที่ที่ประชุมมีการพิจารณาหรือ ลงมติในเรื่องใดนอกเหนือจากเรื่องที่ระบุไว้ข้างต้น รวมถึงกรณีที่มีการแกไ้ ขเปลี่ยนแปลงหรือเพ่ิมเติมขอ้ เท็จจริงประการใด ให้ผูร้ ับมอบฉันทะมีสิทธิพิจารณาและ ลงมติแทนข้าพเจ้าได้ทุกประการตามที่เห็นสมควร In case I/we have not specified my/our voting intention in any agenda or not clearly specified or in case the meeting considers or passes resolutions in any matters other than those specified above, including in case there is any amendment or addition of any fact, the proxy shall have the right to consider and vote on my/our behalf as he/she may deem appropriate in all respects.

หน้า 2 ของจานวน 3 หน้า Page 2 of 3 ส่ิงที่ส่งมาดว้ ย 7 แบบ ข Attachment 7 Form B. กิจการใดที่ผูร้ ับมอบฉนั ทะไดก้ ระทา ไปในการประชุม เวน้ แตก่ รณีที่ผูร้ ับมอบฉนั ทะไมอ่ อกเสียงตามที่ขา้ พเจา้ ระบุในหนงั สือมอบฉนั ทะ ใหถ้ ือเสมือนวา่ ข้าพเจ้าได้กระทาเองทุกประการ Any business carried out by the proxy at the said meeting, except in case that the proxy does not vote according to my/our intention(s) specified in the Proxy Form, shall be deemed as having been carried out by myself/ourselves in all respects.

ลงชื่อ/Signed ผู้มอบฉันทะ/Grantor ( )

ลงชื่อ/Signed ผู้รับมอบฉันทะ/Proxy ( )

หมายเหตุ 1. ผูถ้ ือหน่วยลงทุนที่มอบฉนั ทะจะตอ้ งมอบฉนั ทะใหผ้ ูร้ ับมอบฉนั ทะเพียงรายเดียวเป็นผูเ้ขา้ ประชุมและออกเสียงลงคะแนน ไมส่ ามารถแบง่ แยกจา นวนหน่วยลงทุน ให้ผู้รับมอบฉันทะหลายคนเพื่อแยกการลงคะแนนเสียงได้ The unitholder appointing the proxy must authorize only one proxy to attend and vote at the meeting and may not split the number of investment units to several proxies for splitting votes. 2. กรุณาติดอากรแสตมป์ 20 บาท Please affix stamp duty of Baht 20. 3. กรุณาแนบสาเนาบัตรประชาช น (กรณีบุคคลธรรมดา) หรือ สา เนาหนงั สือรับรองบริษทั พร้อมท้งั สา เนาบตั รประชาชน และทะเบียนบา้ น หรือ หนงั สือเดินทางของ กรรมการผูม้ ีอา นาจลงนาม (กรณีนิติบุคคล) โดยรับรองสา เนาถูกตอ้ งหรือเอกสารตา่ ง ๆ ที่เกี่ยวขอ้ ง เช่น เอกสารการแจง้ เปลี่ยนชื่อหรือนามสกุล เป็นต้น Please attach a copy of the certified true copy of ID card (for an individual) or certified true copy of the affidavit of a company together with a certified true copy of ID card and house register book or passport of an authorized director (for a juristic person) or any other related documents such as the change of name or surname.

หน้า 3 ของจานวน 3 หน้า Page 3 of 3 For foreign unitholders who have custodians in Thailand only ส่ิงที่ส่งมาดว้ ย 7 แบบ ค. Attachment 7 Form C. หนังสือมอบฉันทะ PROXY

เขียนที่ Written at วันที่ เดือน พ.ศ. Date Month Year

(1) ข้าพเจ้า สัญชาติ I/We nationality อยูบ่ า้ นเลขที่ ถนน ตาบล/แขวง Reside at Road Tambol/Khwaeng อาเภอ/เขต จังหวัด รหัสไปรษณีย์ Amphur/Khet Province Postal Code เบอร์โทรศัพท์ที่สามารถติดตอ่ ได.้ ...... Contact Telephone Number

ในฐานะผูป้ ระกอบธุรกิจเป็นผูร้ ับฝากและดูแลหุน้ (Custodian) ใหก้ บั as a Custodian for

ซึ่งเป็นผูถ้ ือหน่วยลงทุนของกองทุนรวมโครงสร้างพ้ืนฐานโรงไฟฟ้ากลุม่ น้า ตาลบุรีรัมย ์ (BRRGIF) โดยถือหน่วยลงทุนจา นวนท้งั สิ้นรวม หน่วย being a unitholder of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF) holding the total amount of units, และออกเสียงลงคะแนนไดเ้ ทา่ กบั เสียง and having the right to vote equal to votes.

(2) ขอมอบฉันทะให้ Hereby appoint  อายุ ปี อยูบ่ า้ นเลขที่ age years, reside at ถนน ตาบล /แขวง อาเภอ /เขต Road Tambol/Khwaeng Amphur/Khet จังหวัด รหัสไปรษณีย์ Province Postal Code

 หรือ ผู้จัดการกองทุน or the fund manager, namely นางสาวเบญจมาฑฐ์ จรูญวงศ์นิรมล อายุ 43 ปี อยูบ่ า้ นเลขที่ 175 อาคารสาธรซิต้ี ช้นั 7 ช้นั 21 และช้นั 26 Ms. Benchamartse Jroonwongniramal age 43 years, reside at 175 Sathorn City Tower, 7th,21st and 26th Floor ถนน สาทรใต้ ตาบล/แขวง ทุง่ มหาเมฆ อาเภอ/เข ต สาทร Road South Sathorn Tambol/Khwaeng Thungmahamek Amphur/Khet Sathorn จังหวัด กรุงเทพมหานคร รหัสไปรษณีย์ 10120 Province Bangkok Postal Code 10120

คนหนึ่งคนใดเพียงคนเดียวเป็นผู้แทนของข้าพเจ้าเพื่อเข้าประชุมและออกเสียงลงคะแนนแทนข้าพเจ้าในการประชุม สามัญผูถ้ ือหน่วยลงทุนประจ าปี 2563 ในวันที่ 26 มิถุนายน 2563 เวลา 10.00 น. ณ ห้องคราวน์ บอลรูม ช้นั 21 โรงแรม คราวน์พลาซ่า กรุงเทพฯ ลุมพินีพาร์ค เลขที่ 952 ถนนพระรามสี่ แขวงสุริยวงศ์ เขต บางรัก กรุงเทพมหานคร 10500 หรือที่จะพึงเลื่อนไปในวัน เวลา และสถานที่อื่นด้วย Any one of them to be my/our proxy to attend and vote on my/our behalf at the 2020 annual general meeting of unitholders on 26 June 2020 at 10 a.m. at Crowne Ballroom, 21th Floor, Crowne Plaza Bangkok Lumpini Park Hotel, No.952 Rama IV Road, Suriyawong, Bangrak, Bangkok 10500 or any adjournment at any date, time and place thereof.

(3) ขา้ พเจา้ ขอมอบฉนั ทะใหผ้ ูร้ ับมอบฉนั ทะออกเสียงลงคะแนนแทนขา้ พเจา้ ในการประชุมคร้ังน้ี ดงั น้ี I/We hereby authorize the proxy to vote on my/our behalf at this meeting as follows:

(1) วาระที่ 1 รับทราบรายงานการประชุมผู้ถือหน่วยลงทุนของกองทุนรวมโครงสร้างพืน้ ฐานโรงไฟฟ้ากลุ่มน า้ ตาลบุรีรัมย์ (BRRGIF) ครั้งที่ผ่านมา Agenda No. 1 To acknowledge the minutes of past meetings of unitholders of Buriram Sugar Group Power Plant Infrastructure Fund (BRRGIF)

หน้า 1 ของจานวน 3 หน้า Page 1 of 3 For foreign unitholders who have custodians in Thailand only ส่ิงที่ส่งมาดว้ ย 7 แบบ ค. Attachment 7 Form C. (2) วาระที่ 2 รับทราบการจัดการกองทุนรวมในเรื่องทสี่ าคญั และแนวทางการจัดการกองทุนรวมในอนาคต

Agenda No. 2 To acknowledge the significant management of the Fund and the management guideline in the future

(3) วาระที่ 3 รับทราบผลการดาเนินงาน งบแสดงฐานะทางการเงิน และ งบกา ไรขาดทุน ส าหรับปี 2562 ของ กองทุนรวม Agenda No. 3 To acknowledge the operating performance, the Financial Statements and the Income Statement of the Fund for the year 2019

(4) วาระที่ 4 รับทราบการจ่ายเงินปันผลและการลดทุน ส าหรับปี 2562 Agenda No. 4 To acknowledge the payment of dividends and capital reductions for the year 2019

(5) วาระที่ 5 รับทราบการแต่งต้งั ผ้สู อบบัญชีของกองทนุ รวม และค่าใช้จ่ายในการสอบบัญชี ส าหรับปี 2563 Agenda No. 5 To acknowledge the appointment of auditors and the audit fees for the year 2020

(6) วาระที่ 6 พจิ ารณาอนุมตั กิ ารให้ความยนิ ยอมแก้ไขสัญญาซื้อขายวตั ถุดบิ ชีวมวลในการผลติ ไฟฟ้าและไอน า้ Agenda No. 6 To consider and approve the amendments to the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing  (ก) ให้ผู้รับมอบฉันทะมีสิทธิพิจารณาและลงมติแทนข้าพเจ้าได้ทุกประการตามที่เห็นสมควร (a) To grant my/our proxy to consider and vote on my/our behalf as he/she may deem appropriate in all respects.

(ข) ใหผ้ ูร้ ับมอบฉนั ทะออกเสียงลงคะแนนตามความประสงคข์ องขา้ พเจา้ ดงั น้ี (b) To grant my/our proxy to vote as per my/our intention as follows:  เห็นด้วย  ไมเ่ ห็นดว้ ย  งดออกเสียง Approve Disapprove Abstain

(7) วาระที่ 7 พิจารณาเรื่องอื่น ๆ (ถ้ามี) Agenda No. 7 Other matters (if any)  (ก) ให้ผู้รับมอบฉันทะมีสิทธิพิจารณาและลงมติแทนข้าพเจ้าได้ทุกประการตามที่เห็นสมควร (a) To grant my/our proxy to consider and vote on my/our behalf as he/she may deem appropriate in all respects. (ข) ใหผ้ ูร้ ับมอบฉนั ทะออกเสียงลงคะแนนตามความประสงคข์ องขา้ พเจา้ ดงั น้ี (b) To grant my/our proxy to vote as per my/our intention as follows:  เห็นด้วย  ไมเ่ ห็นดว้ ย  งดออกเสียง Approve Disapprove Abstain

(4) การลงคะแนนเสียงของผูร้ ับมอบฉันทะในวาระใดที่ไม่เป็นไปตามที่ระบุไวใ้ นหนงั สือมอบฉันทะน้ีให้ถือวา่ การลงคะแนนเสียงน้ันไม่ถูกตอ้ งและ ไม่ใช่เป็นการลงคะแนนเสียงของขา้ พเจา้ ในฐานะผูถ้ ือหน่วยลงทุน Voting of the proxy in any agenda that is not as specified in this Proxy Form shall be considered as invalid and not my/our votes as a unitholder.

(5) ในกรณีที่ขา้ พเจา้ ไม่ไดร้ ะบุความประสงคใ์ นการออกเสียงลงคะแนนในวาระใดไวห้ รือระบุไวไ้ ม่ชดั เจน หรือในกรณีที่ที่ประชุมมีการพิจารณาหรือ ลงมติในเรื่องใดนอกเหนือจากเรื่องที่ระบุไวข้ า้ งตน้ รวมถึงกรณีที่มีการแกไ้ ขเปลี่ยนแปลงหรือเพ่ิมเติมขอ้ เท็จจริงประการใด ให้ผูร้ ับมอบฉันทะมีสิทธิพิจารณาและ ลงมติแทนข้าพเจ้าได้ทุกประการตามที่เห็นสมควร In case I/we have not specified my/our voting intention in any agenda or not clearly specified or in case the meeting considers or passes resolutions in any matters other than those specified above, including in case there is any amendment or addition of any fact, the proxy shall have the right to consider and vote on my/our behalf as he/she may deem appropriate in all respects.

กิจการใดที่ผูร้ ับมอบฉนั ทะไดก้ ระทา ไปในการประชุม เวน้ แตก่ รณีที่ผูร้ ับมอบฉนั ทะไมอ่ อกเสียงตามที่ขา้ พเจา้ ระบุในหนงั สือมอบฉนั ทะ ใหถ้ ือเสมือนวา่ ข้าพเจ้าได้กระทาเองทุกประการ หน้า 2 ของจานวน 3 หน้า Page 2 of 3 For foreign unitholders who have custodians in Thailand only ส่ิงที่ส่งมาดว้ ย 7 แบบ ค. Attachment 7 Form C. Any business carried out by the proxy at the said meeting, except in case that the proxy does not vote according to my/our intention(s) specified in the Proxy Form, shall be deemed as having been carried out by myself/ourselves in all respects.

ลงชื่อ/Signed ผู้มอบฉันทะ/Grantor ( )

ลงชื่อ/Signed ผู้รับมอบฉันทะ/Proxy ( )

หมายเหตุ 1. หนังสือมอบฉันทะแบบ ค. น้ี ใชเ้ ฉพาะกรณีที่ผูถ้ ือหน่วยลงทุนที่ปรากฏชื่อในทะเบียนเป็นผูล้ งทุนต่างประเทศและแต่งต้งั ให้คสั โตเดียน (Custodian) ในประเทศ ไทยเป็นผูร้ ับฝากและดูแลหน่วยลงทุนใหเ้ ทา่ น้นั Only foreign unitholders whose name appears in the registration book who have a Custodian in Thailand can use the Proxy Form C. 2. หลักฐานที่ตอ้ งแนบพร้อมกบั หนงั สือมอบฉนั ทะ คือ Evidence to be attached with this Proxy Form are: (1) หนังสือมอบอานาจจากผู้ ถือหน่วยลงทุนให้คัสโตเดียน (Custodian) เป็นผู้ดาเนินการลงนามในหนังสือมอบฉันทะแทน Power of Attorney from the unitholders authorizing a Custodian to sign the Proxy Form on his/her behalf. (2) หนงั สือยืนยนั วา่ ผูล้ งนามในหนงั สือมอบฉนั ทะแทนไดร้ ับอนุญาตประกอบธุรกิจ คสั โตเดียน (Custodian) Letter of certification to certify that a person executing in the Proxy Form has obtained a permit to act as a Custodian. 3. ผูถ้ ือหน่วยลงทุนที่มอบฉนั ทะจะตอ้ งมอบฉนั ทะใหผ้ ูร้ ับมอบฉนั ทะเพียงรายเดียวเป็นผูเ้ ขา้ ประชุมและออกเสียงลงคะแนน ไม่สามารถแบ่งแยกจา นวนหน่วยลงทุน ให้ผู้รับมอบฉันทะหลายคน เพื่อแยกการลงคะแนนเสียงได้ The unitholder appointing the proxy must authorize only one proxy to attend and vote at the meeting and may not split the number of investment units to several proxies for splitting votes. 4. กรุณาติดอากรแสตมป์ 20 บาท Please affix stamp duty of Baht 20.

หน้า 3 ของจานวน 3 หน้า Page 3 of 3 Attachment 8

Information of Fund Manager from BBL Asset Management Company Limited as Proxy to attend the Meeting

Name Ms. Benchamartse Jroonwongniramal Position Vice President, Real Estate & Infrastructure Investment BBL Asset Management Co., Ltd. Age 43 Years Nationality Thai Address 175 Sathorn City Tower, 7th,21st and 26th Floor, South Sathorn Road, Sathorn, Bangkok 10120 Education Background - Master of Business Administration, Chulalongkorn University. - Bachelor of Engineering, Civil Engineering, King Mongkut University of Technology Thonburi. Certificates - CISA level 2 - CFPTM Certificated Work Experience - 2017- Present Vice President, Real Estate and Infrastructure Investment BBL Asset Management Co., Ltd. - 2013-2017 Assistant Vice President, Property Fund Department UOB Asset Management Co., Ltd. The conflict of special interest related to the No conflict of interest meeting agenda

Attachment 9

Map of the Meeting Venue

Address: Crowne Ballroom, 21th Floor, Crowne Plaza Bangkok Lumpini Park Hotel No.952 Rama IV Road, Suriyawong, Bangrak, Bangkok 10500 Tel: 0-2632-9000

Transportation: BTS Skytrain : Saladaeng Station exit 5 MRT Subway : Silom Station exit 2

BMTA Bus : No. 4, 21, 25, 45, 46, 47, 50, 109, 507 and Por Oar. 141 Attachment 10

Information on the Entering into a Transaction with the Fund’s Related Parties to Amend the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing

Buriram Sugar Group Power Plant Infrastructure Fund (the “Fund”) by BBL Asset Management Co., Ltd. (the “Management Company”) has considered the letter of Buriram Sugar Public Company Limited ("BRR") to request for consent for amendment of the Biomass Raw Material Sale and Purchase Agreement for Electricity and Steam Manufacturing between Buriram Sugar Public Company Limited, Buriram Energy Co., Ltd. (“BEC”), Buriram Power Co., Ltd. (“BPC”) and Buriram Sugar Factory Co., Ltd. (“BSF”) (the "Biomass Raw Material Sale and Purchase Agreement") and would like to inform that:

1. Date/ Month/ Year of the Transaction

After approval from the unitholders’ meeting of the Fund has been obtained. The transaction is expected to be completed within December 2020.

2. Involved Parties and Relationships with the Fund and the Fund’s Related Parties

Involved parties are: (1) Buriram Energy Co., Ltd. (“BEC”); and (2) Buriram Power Co., Ltd. (“BPC”) as the contractual parties in net revenue transfer agreement of power plant business, dated 2 August 2017 ("Net Revenue Transfer Agreement")

Related parties are: (1) BEC and BPC BEC and BPC are considered related parties of the Fund according to the definition of a related party specified in the Notification of the Capital Market Supervisory Board No. TorNor. 38/2562 Re: Rules, Conditions and Procedures for Establishment and Management of Infrastructure Funds, dated 25 April 2019 (as amended) and the Notification of SEC No. SorThor. 14/2558 Re: Rules in Detail on the Prevention and Management of Conflicts of Interest, dated 7 April 2015 (as amended). In this case, BEC and BPC are considered related parties because they have a major shareholder who is a major

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unitholder of the Fund, where a major unitholder means a person holding units more than 10.00 percent of the total number of units sold of the fund. BEC and BPC are subsidiaries of BRR. As of 31 December 2019, BRR holds shares (directly and indirectly) in BEC and BPC at 99.99 percent and 99.98 percent of the total number of shares sold of both companies, respectively. BRR is also a major unitholder of the Fund. As of 28 November 2019, BRR holds units at 33.05 percent of the total number of units sold of the Fund.

3. General Characteristics of the Transaction

After obtaining approval from the unitholders’ meeting of the Fund, the Management Company will consent to BEC and BPC for the amendment to the Biomass Raw Material Sale and Purchase Agreement pursuant to the details to be proposed to the unitholders’ meeting for consideration.

4. Total Transaction Value

The value of the transaction arising from the consent for the amendment of the Biomass Raw Material Sale and Purchase Agreement will not cause any changes in the value of the Net Revenue Transfer Agreement before consenting.

5. Conditions for the Transaction

Consenting to BEC and BPC for the amendments to the Biomass Raw Material Sale and Purchase Agreement is considered as consenting to the related parties of the Fund to amend the agreements related to the seeking of benefits from infrastructure business assets and thus requiring approval from the Fund’s unitholders with the votes of not less than three-fourths of the total number of units of the unitholders present and entitled to vote at the meeting. In the meeting held to seek such resolution, a quorum shall consist of the presence of the unitholders of at least 25 persons or at least one half of the total number of unitholders, holding the units in aggregate of at least one-third of the total number of units sold of the Fund. Unitholders having special interest, directly or indirectly, in the matters seeking the meeting’s resolution and other funds under the management of the Management Company will not be entitled to vote for such relevant matters, but the unitholders having special interest and their units and other funds under the management of the Management Company will be counted for quorum purposes.

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6. The Management Company’s Opinion regarding the Entering into the Transaction

The Management Company has considered the request for consent to BEC and BPC to amend the Biomass Raw Material Sale and Purchase Agreement and viewed that granting the consent will cause the Biomass Raw Material Sale and Purchase Agreement to contain commercial and financial provisions that make any transactions between the related entities independent and not being regarded as a transfer of profits and will adjust the purchase prices under the other related agreements to the market prices. According to the changing rules of the Revenue Department contained in the Revenue Code Amendment Act (No. 47) B.E. 2561 (A.D. 2018) (the “Act”) regarding the measures on transfer pricing between related companies or juristic partnerships to prevent and resolve transfer pricing issues within the transactions entered into between related entities and having characteristic of a sale of goods and services to each other and involving a transfer of profits to avoid payment of taxes to be payable, if the related agreements are not amended to be in accordance with the Act and the changing rules of the Revenue Department, the Revenue Department’s officer may assess and adjust BEC’s and BPC’s revenues and expenses as deemed appropriate, causing both companies to pay an increasing amount of taxes including penalties and surcharges (if any), which will affect BEC’s and BPC’s operating capacity in a long run. In this regard, granting such consent will not incur any financial burdens or expenses, including damages that will affect the benefits of which the Fund will receive from BEC and BPC under the Net Revenue Transfer Agreement prior to this consent.

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Attachment 11

List of Top 10 Major Unitholders of the Fund as of the Book Closure Date (10 March 2020)

Set out below is the list of top 10 Major Unitholders of the Fund as of the Book Closure Date on 10 March 2020.

No. Name Units Proportion (%) 1 BURIRAM SUGAR PUBLIC COMPANY LIMITED 115,672,228 33.05% 2 MR.SOMCHART SOTTHIMAI 36,560,000 10.45% 3 LAND AND HOUSE BANK PCL 35,000,000 10.00% 4 SOCIAL SECURITY OFFICE 25,072,900 7.16% 5 BUALUANG INCOME FUND 11,077,600 3.17% 6 MR.SANTI DUANGPANUMAS 8,400,000 2.40% 7 BANGKOK ASSURANCE PUBLIC COMPANY LIMITED 4,900,000 1.40% 8 MISS PIMSIRI SERIWIWATTANA 3,900,000 1.11% 9 RAMKHAMHAENG HOSPITAL PUBLIC COMPANY LIMITED 2,950,000 0.84% 10 THAIRE LIFE ASSURANCE PUBLIC COMPANY LIMITED 2,900,000 0.83%

Remark: On the meeting day, the list of top 10 Major Unitholders of the Fund as of the Record Date on 29 May 2020 shall be provided to unitholders as an additional document.

Attachment 12

Precautionary Measures and Guidelines for the 2020 Annual General Meeting of Unitholders during the outbreak of Coronavirus Disease 2019 (COVID-19)

BBL Asset Management Company Limited (the “Management Company”) as the Management Company of Burirum Sugar Group Power Plant Infrastructure Fund (BRRGIF) (the “Fund”) is concerned about the health of all Unitholders attending the meeting, and to reduce the spread of Coronavirus Disease 2019 (COVID-19), the Management Company would like to inform and request for cooperation from the Unitholders to follows Precautionary Measures and Guidelines for the 2020 Annual General Meeting of Unitholders during the outbreak of Coronavirus Disease 2019 (COVID-19) as follows:

1. The Management Company kindly requests for unitholders’ cooperation to grant a proxy to Fund Manager from the Management Company to attend the meeting on behalf of the Unitholders. The Unitholders can cast their votes on all agendas in advance, and send the proxy form together with documents required for proxy granting to Burirum Sugar Group Power Plant Infrastructure Fund (BRRGIF) BBL Asset Management Company Limited 175 Sathorn City Tower, 7th, 21st and 26th Floor, South Sathorn Road, Thungmahamek Sub-District, Sathorn District, Bangkok 10120 2. The Management Company allows the Unitholders to submit questions relating to the agendas in advance. The Unitholders are requested to submit questions in writing and provide information as stated below to the Management Company from 1 June 2020 to 18 June 2020. The Management Company will entirely record all questions being submitted via the aforementioned channels and explain the answers in the Minutes of the 2020 Annual General Meeting of Unitholders.

Guidelines for Submitting Questions in advance 1) Must be the Unitholders of the Fund whose name appeared on the registration book of the Unitholders of the Fund on 29 May 2020 (Record Date). 2) Must provide the following information together with the question: 2.1) Name-surname, telephone number, email (if any) and contact address of the Unitholders, as well as the amount of units held by them. 2.2) Questions relating to the agendas of the 2020 Annual General Meeting of Unitholders (Please specify agenda and questions.)

Channels for Submitting Questions 1) By email: [email protected] (please specify “Submit Questions in advance” in the email subject) 2) By mail to: Burirum Sugar Group Power Plant Infrastructure Fund (BRRGIF) BBL Asset Management Company Limited 175 Sathorn City Tower, 7th, 21st and 26th Floor, South Sathorn Road, Thungmahamek Sub-District, Sathorn District, Bangkok 10120

3. The Management Company will broadcast the meeting on the internet so that the Unitholders who will not attend the meeting in person can receive information equally, The unitholders of the Fund whose name appeared on the registration book of the Unitholders of the Fund on 29 May 2020 (Record Date), can access to the internet broadcast to watch the meeting by scanning the OR Code which is shown on the cover of the 2020 Annual General Meeting of Unitholders invitation letter or log in via the Fund’s website at www.brrgif.com and filling in 10-digit unitholder’s registration number stated in the invitation letter and unitholder’s identification card number. In this Regard, the Unitholders who watch the meeting via internet broadcast will not be able to ask questions via the internet broadcast. 4. The Management Company has organized the meeting venue to avoid crowded meeting area with appropriate social distancing of 1.5-2 meters in the following areas: temperature-screening points, document-checking points, and registration counters, as well as the seating arrangement, which may result in significant restrictions on the number of seats available in the meeting room. In this regard, the number of seat available in the meeting room will be approximately 80 seats. After registration, each attendee will be assigned a seating number and required to sit in the assigned seating number in order to prevent or follow up in case of any unforeseen circumstances. The attendees are not allows to move the assigned seats. In the event that the seats are fully occupied, the Management Company request for Unitholders’ cooperation to grant a proxy to the Fund Manager from the Management Company to attend the meeting on behalf of the Unitholders. The Unitholders who wish to attend the meeting in person can reserve the seat in advance through the Fund’s Website at www.brrgif.com from 1 June 2020 to 24 June 2020. 5. In case of unitholders who wish to attend the meeting in person, the Management Company would like to request your cooperation to strictly follow the measures and guidelines to prevent and minimize the risk of the spreading of Coronavirus Disease 2019 (COVID-19) as follows: 4.1 All attendees are required to fill in the Coronavirus Disease 2019 (COVID-19) Screening Questionnaire before entering the meeting venue. For the attendees who recently visited or returned from the Disease Infected Zones of the Coronavirus Disease 2019 (COVID-19) outbreak as notified by the Ministry of Public Health, including those who have had close contact with the person who have visited or returned from the Disease Infected Zones of the Coronavirus Disease 2019 (COVID-19) outbreak, or those who show any symptoms such as fever, cough, sneezing, sore throat, runny nose, or any other symptoms or indication which may be suspicion or risk of Coronavirus Disease 2019 (COVID-19) infection, the Management Company reserves the right to prohibit those in the risk group to attend the meeting. In this regard, the Management Company would like to ask for your cooperation in following the recommendations from our staff at the health screening point strictly, otherwise the Management Company will not allow you to enter the meeting area. However, those Unitholders may consider appointing the Fund Manager from the Management Company as their proxies to attend the meeting and vote on their behalf. Please also kindly note that concealment of health information or traveling record could be considered as an offence under the Communicable Diseases Act B.E. 2558. 4.2 All attendees must go through the detector at the health screening point before entering to the meeting venue. Attendees who have body temperature higher than 37.5 degrees Celsius will not be allowed to attend the meeting. Attendees who passed the health screening process will be requested to put on a registration sticker provided by the Management Company, wear a facemask throughout the meeting (Please bring your own facemask to the meeting) and wash your hands by using the hand sanitizer provided at the meeting areas. 4.3 The Management Company reserves the right to prohibit any attendees, who do not pass the health screening process or do not complete the Coronavirus Disease 2019 (COVID-19) Screening Questionnaire to enter the meeting venue. 4.4 To prevent the spread of the Coronavirus 2019 (COVID-19), if the unitholders have any questions, the Management Company requests the Unitholders to write such questions on the paper instead of speaking through the microphone and submit such questions to the Management Company’s staff in order to pass it on to the Chairman of the Meeting. 6. The Management Company will not provide tea and coffee and kindly ask for your cooperation in refraining from eating in the meeting area in order to minimize risk of the disease outbreak. 7. The Management Company will not provide printed copies of the 2019 Annual Report at the meeting for sanitation and in order to minimize personal direct contact. 8. In case there are any changes of regulations or additional measures relating to conducting of annual general meeting of unitholders announced by the government agencies, the Management Company reserves the right to change the aforementioned measures and guidelines in be in line with the change of relevant regulations and will inform Unitholders via the Fund’s website www.brrgif.co.th and other channels as appropriate.

In this regard, the implementation of the above measures and guidelines may cause a delay in the health screening and registration process, the Management Company would like to apologize for any inconvenience that may occurs.

Yours Sincerely, BBL Asset Management Company Limited Coronavirus Disease 2019 (COVID-19) Screening Questionnaire Before attending the 2020 Annual General Meeting of Unitholders of BRRGIF on Friday 26th June 2020 Please provide accurate and actual information for the benefit of screening for Coronavirus Disease 2019 (COVID-19) Name – Surname Mobile Phone Number 1. Do you have any of the following symptoms in past 14 days? (Please mark  in the blank) Yes No Yes No Fever/Chills Wet cough/Dry cough Shortness of Breath/Tiredness/Difficulty breathing Sore throat Body aches and muscle pains Nasal congestion/Runny nose

2. Have you travelled/transited from any countries or areas with Coronavirus Disease 2019 Yes No (COVID-19) outbreak within the past 14 days? (Please mark  in the blank) 3. Within the past 14 days, have you visit the area with a risk of infection or contact any person with a risk as follows? Did you have close contact (shared living quarters, or provided care) OR spent time within speaking distance (if infection control precautions were not used) with an infected person, or a person who provide care for patients Yes No infected with Coronavirus 2019 (COVID-19), or a person who is under investigation for Coronavirus 2019 (COVID-19)? Did you go to these places as identified below? (If yes, please mark  in the blank below) Yes No  Restaurants (except take-away)  Buddha amulet sales stalls  Shopping malls (except supermarkets zones, drugstores  Exhibition and convention centers or zones selling necessary items and food shops)  Educational institutions at all levels including tuition schools  Markets and weekend markets (except sales of fresh  Weight-control services and cosmetic clinics and dried food and cooked meals for take-away,  Health spas animal feed, drugstores and other necessary items)  Animal spas  Beauty salons  Massage parlors  Tattoo service shops  Herbal treatment centers Did you go to these places as identified below? (If yes, please mark  in the blank below) Yes No  Skate and rollerblade venues or other similar services  Cinemas, theatres  Amusement parks, bowling lanes  Fitness center  Gaming and internet shops  Entertainment places  Golf courses or golf driving ranges  Boxing stadiums and boxing schools  Swimming pools or similar service venues  Sports stadiums  Fighting cock venues  Horse race tracks