any factors or situation are changed in the future; the investors are, therefore, required to have their own discretion regarding the usage of this information for any purpose. For further detail

. Thailand economic situation in 2020: the Bank of Thailand has recently downgraded the forecast of Thailand's full-year economic outlook to a 8.1% contraction due to impacts from COVID-19 pandemic. The

can be adjusted depending on changes of future situation. GFPT Public Company Limited Management Discussion and Analysis for the Year 2018 Page 10 of 14 Management Discussion & Analysis Summary of

situation of these 2 areas. Revenue of Dusit Thani Bangkok decreased from news of closing the hotel even there was special event from Miss Universe. - Revenue from Overseas Owned Hotels increased by 4.9% yoy

year for the next 3-5 years. However, this expansion plan can be adjusted depending on changes of future situation. GFPT Public Company Limited Management Discussion and Analysis for the Year 2019 Page

MD&A may vary if any factors or situation are changed in the future; the investors are, therefore, required to have their own discretion regarding the usage of this information for any purpose. For

(MD&A) For Q3/2017 7 Chart of world crude steel production monthly, ending 30 September 2017 Source: World Steel Association Such the situation showed that global crude steel production continues to

decreased due to crude palm kernel oil price declined. However, the company could generate EBITDA at THB 282 million, increased by 257% driven by improving of market situation. The company had been impacted

, the information provided in this MD&A may vary if any factors or situation are changed in the future; the investors are, therefore, required to have their own discretion regarding the usage of this

economic recovery in the next stage would be subject to the situation of the new wave of COVID-19 pandemic, the efficacy and coverage of COVID-19 vaccination, the recovery of foreign tourist arrivals as well