first quarter ended March 31, 2019 with those of 2018. This report discusses principal changes in the reviewed consolidated financial statements. Overall market environment The Thai economy for the first

adopted Thai Financial Reporting Standards (TFRS) 15, Revenue from Contracts with Customers. The standard affects the accounting of handset campaigns which are contracted with price plans. Prior to 2019

rate in 2009 following the Hamburger crisis. The Committee assessed that the Thai economy would expand at a lower rate than previously assessed and lower than its potential due to a decline in exports

through franchise models • Focus on regional branch expansion throughout major cities in order to create opportunities to capture more customers • Target to expand to total of 100 branches by the end of

projects ERU +250MW Rayong WTE +10MW Expansion+18MW +2,771MW COD of projects CUP 4 +45MW NL1PC +26MW CUP 3 Expansion +15MW XPCL +321MW +39.5MW Note: Base on 100% in GLOW Q3/2019 Outlook and Business

E_1 Legal_FA_2015_12_29-c A FFeeCCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended September 30, 2017 The Thai economy maintained steady growth in the

higher occupancy rate. - Revenue from Overseas Hotels was up by 5.3% yoy despite an adverse impact on the translated financial statements from foreign currency exchange due to Thai Baht appreciate against

V2 12/11/62 0 V2 12/11/62 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in the Third Quarter of 2019 The Thai economy in the third quarter of 2019

most important export market of Thai chicken meat products. In 2019, Thailand exported chicken meat products to Japan about 437,819 tons, slightly decreased by 0.58% from previous year primarily from the

resolved to approve the acquisition of up to 40% shares of total paid-up capital in TSE Overseas Group Company Limited (“TSEO”) which is a subsidiary with 100% shareholding by Thai Solar Energy Public