PowerPoint Presentation MANAGEMENT DISCUSSION & ANALYSIS THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MD&A Q1/2019 PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1 2019 For Q1/2019, the EBITDA of the

Investor and High Net Worth Investor; “management” shall have the same definition as specified in the Notification of the Securities and Exchange Commission concerning Issuance and Offering for Sale of

is a group of juristic persons consisting of investment funds with proficiency in investing in companies with financial problems and distressed assets and a strong expertise in debt management and

foreign company. “holding company” means a foreign company whose core business is holding shares of other companies and none of significant manufacturing, distribution or service. “Thai company” means a

approved by the meeting of shareholders as well. 5. Approval of the appointment of Discovers Management Company Limited, a financial advisor, approved by the Securities and Exchange Commission (SEC) as an

III GP, L.P. (“SSG GP”). SSG GPGP has its own investment committee and independent directors who have management control over SSG III’s operations. 2 SSG III is a Cayman Limited Partnership and is a

V3 22/02/61 10:09 น. 0 V3 22/02/61 10:09 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2017 In 2017, Thailand’s real GDP grew by 3.9 percent, up

Depreciation and writing off bad debt and doubtful accounts Income tax to be written off (Gain) Loss from regulation of securities (Gain) Loss from assets distribution (Gain) Loss from foreign currencies

securities (Gain) Loss from assets distribution (Gain) Loss from foreign currencies exchange Earnings from operation before change in operating assets and liabilities Operating assets (increase) decrease Long

off (Gain) Loss from regulation of securities (Gain) Loss from assets distribution (Gain) Loss from foreign currencies exchange Earnings from operation before change in operating assets and liabilities