income, and the lagging recovery in household purchasing power. Regarding Thai monetary policy, the Bank of Thailand’s policy rate is expected to stay at a low 1.50 percent for the entirety of 2017 through

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS Q4/2019& FY 2019 MD&A PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q4 2019 and FY2019 Global

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS MD&A Q3/2019 PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q3 2019 On the 9th October, after

showed an improvement and a positive sign in performance recovery. For the year 2020, the Company will continuously improve our operations in order to satisfy customer needs in both quality and excellent

increase in electricity sales volume of IRPC Clean Power (IRPC-CP) as in Q1/2018, there was a planned maintenance shutdown of Gas Turbine Generator (GTG) and Heat Recovery Steam Generator (HRSG) for 20 days

performance. Therefore, the shareholders have directed the executives of Blue Finix to prepare business recovery plan. Then, the executives of Blue Finix has proposed such plan in the Board of Directors

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS MD&A Q2/2019 PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q2 2019 For Q2/2019, the EBITDA of the

Page 2 Management Discussion and Analysis 1. Power Industry and Competition 1.1 Electricity industry and Economic situation in Thailand Thailand’s economy expanded by 2.4 percent in 2019, lower than 2018

, the tourism sector and a recovery in exports due to an improvement in the economies of our trading partners. As a result there has been an increase in the purchasing power of consumers in major cities

memorable. 3.2 Business trends of the Company Thailand’s economic has a clear recovery signal in 2017 and was expected to grow continuously in 2018. Reflecting to Thai’s Gross Domestic Product (GDP) where the