& Analysis Management Discussion & Analysis (MD&A) Q4/2018 and FY2018 Executive Summary Executive Summary For 2018, Global Power Synergy Public Company Limited (GPSC) (“the company”) earned a net profit of
financial position for the fourth quarter and year ended December 31, 2018 with those of 2017. This report discusses principal changes in the audited consolidated financial statements. Overall market
performance and financial position for the second quarter and six months ended June 30, 2018 with those of 2017. This report discusses principal changes in the unaudited consolidated financial statements
performance and financial position for the second quarter and six months ended June 30, 2018 with those of 2017. This report discusses principal changes in the audited consolidated financial statements. Overall
performance and financial position for the fourth quarter and year ended December 31, 2018 with those of 2017. This report discusses principal changes in the unaudited consolidated financial statements. Overall
December 2019 with installed capacity of 15 MW and 4.8 MW respectively. Although most of new projects started in the middle of the year, B.Grimm’s 2019 net profit rose by 33.6% to Baht 3,977 million while
the acquisition of GLOW also contributed to an increase in EBITDA by Baht 751 million. The net profit for the company in Q1/2019 increased by 456 million or 94% from Q4/2018 and by Baht 20 million or 2
Ref. No. IVL 003/02/2019 26 February 2019 The President The Stock Exchange of Thailand Subject: Submission of Annual Audited Financial Statements and the Management Discussion and Analysis of
Transaction size 1. Net Tangible Assets (NTA) NTA pf the target × acquisition proportion / NTA of listed company Not applicable because UWM has no audited financial statements N/A 2. Net profit Net profit of