Global Green Chemicals Public Company Limited Management Discussion and Analysis For the Operating Results of 2Q2020 P a g e | 2 - Management Discussion and Analysis 2Q2020 - CONTENTS Executive

in Q2 2019 dropped by 2.40% compared to last year. Export Volume dropped by 2.52% due to the global economic slowdown as overall economy may be affected by the international trade war. Domestic demands

materials and factory supplies which was in accordance to an increase in sales revenue in this period. Moreover, cost of Disc material that was increasing from the changed in global steel market price since

, while we expect an impact, we do not expect this to be as severe as in the highly impacted sectors of the economy.” 2. Outlook The global Covid-19 pandemic has affected Thai Q1 GDP with estimates that the

been affected in accordance with the economies of major trading partners and the declining global trade volumes. This has begun to have further effects across all sectors, especially to domestic demand

experienced moderate growth amid global economic uncertainty, driven by the expansion of private consumption and tourism sectors, while the purchasing power of the grassroots consumer remained challenging. AIS

is profoundly impacting the global economy, especially the hospitality sector which is the main business of the Company. Almost all our hotels were temporarily closed since the second half of March

to the same period of the previous year. The main reasons was the weaken sales due to the impact of trade wars that have the broad impact on global supply chain and through Thailand's exports. As such

demonstrated a cautious growth from expansions of private consumption and tourism sector, while facing global and local economic headwinds and challenges from high interest rate environment. Overall, AIS

, especially global economic fluctuations and unresolved political issues. Businesses have also had to contend with new regulations and government projects. All of these factors affected the performance of KBank