(Translation) Management’s Discussion and Analysis For the operating results of Quarter 2 2017 Global Green Chemicals Public Company Limited Management’s Discussion and Analysis Global Green

ensuring that the philosophy of sustainable development is ingrained in all operations of our employees as part of their Green DNA, so that they concretely perform their work for enhancement of strategic

(2,546) 2,420 -205% 1,959 -230% Refinery and Trading Business 1/ (2,590) 1,073 -341% 517 -601% Marketing Business Group 2/ 81 359 -78% 612 -87% Green Power Business 3/ 770 795 -3% 736 5% Bio-Based Product

take-home or delivery services only. The Group placed importance on maintaining continuity in providing efficient services to our customers and therefore the Group focused on improving the efficiency of

Global Green Chemicals Public Company Limited Management Discussion and Analysis | 1 Management Discussion and Analysis For the operating results of 1Q2019 Global Green Chemicals Public Company

end of Q1–2018 the project in accordance with the contract had completed for delivery. In addition, the new winning projects had decreased. Other current assets increased by 13.7 MB or representing an

from the same period of previous year by Baht 33.29 million or 6.67%. The increase was affected by an increase in the delivery volume of its subsidiaries by Baht 32.45 million comparing with the same

increase of 65.6% due in Q2-2016 the company obtain new projects which were is still work in progress and not yet completed for delivery. -4- Other current assets decreased by 44.5 MB or 47.1%, due to an

year affected to end user to delay their purchasing order from the retail store and therefore the distributor delayed ordering for their stock as well, together with the delivery plan were delayed to Q3

, had paid all of loans to the Company. Inventories decreased by 81.4 MB or decrease of 26.6%. This is because the project in accordance with the contract had completed for delivery in the end of Q2–2018