E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending March 31, 2019 In the first quarter of 2019, the Thai economy continued to sustain its growth. Overall, however, it was plagued by weak exports and tourism amid the global economic slowdown. Aside from these challenges, businesses had to contend with more complex competition, regulatory changes, and technological advancements which affected consumer behavior. KASIKORNBANK has e...

freight saving. This does not have any impact on regional or consolidated EBITDA. 4Core EBITDA is Reported EBITDA less inventory gains/(losses) 5Core EPS is Reported EPS less inventory gains/(losses) less

) transactions 2Total of each segment may not always tally with consolidated financials due to holding segment 3Excludes price adjustment for captive sales on freight saving. This does not have any impact on

increased overall average operating rate of 86%. Higher freight rates positively impacted sales price in our respective domestic markets. This translated into an overall Fibers Core EBITDA growth of 23% QoQ

freight to decline. Jet (Kerosene) and Dubai crack spread (IK/DB) declined by 12.21 $/BBL compared to the average of 12.19 $/BBL in Q2/ 2 0 1 9 . This is due to pressure from the airline industry which was

cost (excluding freight) (USD/Ton JPU) 98.7 89.7 81.7 (17%) (9%) 97.7 87.5 (10%) Cost of sales of goods and rendering of services of IPP business in Q3/2020 was THB 2,217 million, decreased by THB 547

Brunei and Qatar, trading of new product in the market such as MTBE, additional revenue from logistics management and freight trading, furthermore the fostering of strong ties with trade partners and

, logistics and transport as well as fintech business, both domestic and international, have joined the fray to provide financial services to local customers. Given this development, non-conventional

Mckenzie and joined Banpu. Mr. Somprasong graduated from the faculty of Law, Thammasat University and completed his LLM Law at Case Western Reserve University, USA. 5/15 2.) Mr. Surachet Chaipatamanont Mr

for the Firm. He spent 7 years at SET and another 11 years with Baker and Mckenzie. Then, he left Baker and Mckenzie and joined Banpu. Mr. Somprasong graduated from the faculty of Law, Thammasat