COMPANY LIMITED NOK AIRLINES PUBLIC COMPANY LIMITED NONTHAVEJ HOSPITAL PUBLIC COMPANY LIMITED NORTH EAST RUBBER PUBLIC COMPANY LIMITED NOVA EMPIRE PUBLIC COMPANY LIMITED NOVA ORGANIC PUBLIC COMPANY LIMITED

PUBLIC COMPANY LIMITED NONTHAVEJ HOSPITAL PUBLIC COMPANY LIMITED NORTH EAST RUBBER PUBLIC COMPANY LIMITED NOVA EMPIRE PUBLIC COMPANY LIMITED NOVA ORGANIC PUBLIC COMPANY LIMITED NR INSTANT PRODUCE PUBLIC

to become a key player with double-digit growth and building our organic portfolio towards 2.5mn customers this year. • Enterprise business to thrive with continued digitization trend – Our key

targets, while we also gained wide acceptance and recognition at home and abroad, as reflected in the numerous awards we received in 2019. C Contents Page Executive Summary A 1. Overview of Operating

institution, enabling us to cope with possible economic fluctuations in a timely manner. C Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in 2017 and

Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in 2018 and Outlook for 2019 1 1.2 Banking Industry, Competition and Emerging Risks 2 1.3 Regulatory

& Analysis Management Discussion & Analysis (MD&A) Q1/2018 3 • Energy Consumption in Q1/2018 Thailand’s economic overview for Q1/2018 indicates that the Gross Domestic Product (GDP) has been revaluated to grow

V3 22/02/62 14:27 น. 0 V3 22/02/62 14:27 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2018 In 2018 the Thai economy grew by 4.1 percent, up

the contracted capacity of 109.60 MW. GCC stopped its operation and electricity sales to EGAT on the same day. Page 12 3. Business overview EGCO Group have invested in the Power Producer (PP

V3 27/02/63 0 V3 27/02/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2019 In 2019, the Thai economy grew by 2.4 percent year-on-year, down from