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

continuously. As well, the Company also aims to expand business to CLMV countries (Cambodia, Lao PDR, Myanmar, and Vietnam); which are the countries having interesting growth direction of business. The Company

program rights that has been broadcasted via digital television or DTT which the Company continuously growth. As a result of the epidemic situation in the first quarter of 2020, the customers are unable to

1,633.8 million in 2017 mainly due to increase of Operating Revenue 7.0% YoY. The increase of Operating Revenue was attributable to growth of industrial water’s sales volume mainly from 5 SPPs operating

the company. Expand investment to create stability and growth in the future. Generally, solar cell projects have contract period of 20-25 years, guaranteeing the fixed revenue during that period. The

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction

production, as farm income has remained subdued due to falls in market prices. Nevertheless, overall domestic demand grew at a moderate pace, and durable goods consumption has slowly picked up. The performance

ended as of December 31, 2019, which can be summarized as follows: Thailand Automotive Industry Total vehicle production volume for the year 2019 dropped by 7.10% to 2,013,710 units, compared to 2,167,694

with business reorganization in order to enhance corporate efficiency and growth contributing to favourable operating results by achieving gross profit margin and EBITDA since Q1-2020. UWC Group’s

pandemic has affected Thai economy an early on February 2020, which likely cause a continued changing and dispersed forecast of the GDP growth in the year of 2020 as well as how and when the economic