Management Discussion & Analysis (MD&A) Q1/2018 Executive Summary Executive Summary 1 For Q1/2018, Global Power Synergy Public Company Limited (GPSC) (“the company”) had a net profit of Baht 922 million

trade accounts receivable of Baht 1,205 million. Moreover, for the first nine months of 2018, the company and its subsidiaries had net cash received for Baht 1,786 million. The details are as follows

Limited at the Meeting No. 17/2019, held on 3 December 2019, had adopted resolutions to report to the SET as follows: 1. Approve to propose that the extraordinary shareholders’ meeting No. 1/2020 consider

The opinions of the Independent Financial Advisor on the connected transaction (For the purpose of translation only) 0 The opinions of the Independent Financial Advisor on the connected transaction by Thai Wacoal Public Company Limited Presented to Shareholders of Thai Wacoal Public Company Limited Prepared by 8 March 2019 This English report of the Independent Financial Advisor’s Opinions has been prepared solely for the convenience of foreign shareholders of Thai Wacoal Public Company Limited...

% Australia 2% Thailand South Korea The Philippines Lao PDR Indonesia Australia Page 5 - The Philippines The Philippines’s economy had expanded 6.2 percent from previous year. The Philippines currently has

cubic meters per day and Phase 2 to be expanded its generating capacity to 48,000 cubic meters per day by approximately 2031. 1.10 Changes in Accounting Policy On January 1, 2018, the Company had adopted

Shareholders' Equity 1,612 1,579 +2% Total Liabilities and Shareholders' Equity 4,390 3,640 +21% Assets As at 31 December 2017, the Company and its subsidiaries had total assets of Baht 4,390 million, an

received from TOT on space rental and maintenance service upon the tower agreement with TOT, which had retrospectively taken effect from 1 Jan 2019. Excluding IC and ToT partnership, core service revenue was

-performing assets (NPAs) totaling Baht 472 million and had gain of Baht 190 million. Financial Markets business generated revenue of Baht 110 million during 2Q19. 3 For Capital market business, the market

from the sale of unused land of Baht 46.31 million and the provision for employee retirement benefits from 300 to 400 days of Baht 18.87 million had not been included, the net profit of the Corporate