E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due

situation in those targeted countries. Figure 2 EGCO’s equity contracted capacity of electricity in 2018 classified by country 1.3 Competition Overall picture in 2018 illustrated the active movements of power

Discussion and Analysis (MD&A) for year 2017 3 Executive Summary In overall 2017 performance, the Company had significant improvements in various areas such as production increase to 875,874 tons, sale volume

on Q1/2018 Management’s Discussion and Analysis (MD&A) for year 2017 (Revised) 3 Executive Summary In overall 2017 performance, the Company had significant improvements in various areas such as

first quarter ended March 31, 2019 with those of 2018. This report discusses principal changes in the reviewed consolidated financial statements. Overall market environment The Thai economy for the first

shown in the table on page 6. Market and Competitive Environment In 2Q19, the competition in mobile market showed a sign of improvement. Overall, the industry focused on reducing unlimited data offerings

of UE (U Sathorn, U Chiang Mai and U Inchantree Kanchanaburi), which contributed THB 64mn and (iii) the improving overall operating performance of all 3 of our hotels in Thailand, Eastin Grand Sathorn

network and service. This resulted in overall network OPEX ( excluding cost of TOT partnership) to stay flat YoY or remained at 8% of core service revenue. The focus on effective spending amidst intense

Phatra Securities Plc. for 1Q21 was at 10.84%, continuing to rank 1st from total of 38 brokers. Overall market environment The Thai economy started out at a slow pace in January 2021 due to the resurgence

Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in the Third Quarter of 2018 1 1.2 Banking Industry and Competition 2 1.3 Significant Regulations and Rules related to