PowerPoint Presentation MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q3/2018 GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED 0 THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP Management Discussion & Analysis

% - Operating Revenue1 447.2 423.9 5.5% 1,299.6 1,264.9 2.7% - Other Revenue from Utilities Business2 2.6 18.5 -85.9% 81.9 22.1 271.2% - Power Business 3.0 1.1 165.4% 5.9 1.9 211.1% Costs of Sales and Services

% - Other Revenue from Utilities Business2 112.7 25.4 343.7% - Power Business 10.2 3.2 221.8% Costs of Sales and Services (1,164.4) (1,120.0) 4.0% Gross Profit 692.8 588.3 17.8% Gross Profit from Operation3

of the previous year. The increase is owing to the increase in the profit of Hongsa Power Company Limited, a joint venture, in a portion of 40 percent. In addition, the acquisition of RATCH

and MBT systems so that to prevent conflict in the future both of us promise to not complete direct or indirect in these projects by SUTG will not do landfill and open dumping projects and Hydrotek will

her employer for six months. The SEC thus ordered another two months? suspension to complete the term.  AEC Securities:  (10) {K}, capital market investment consultant and investment planner, is

Project with capacity of 7,500 cubic meter per day in WHA Eastern Industrial Estate achieved Commercial Operation Date in 3Q’18. Power Business In 2018, our Share of Profit from Investment in Associates and

Memorandum in relation to Related Parties Transaction Re: the Disposal of Rights under Loan Agreement, Share Pledge Agreement and Memorandum of Understanding re: the Feasibility Study for the Solar Power Plant

%. • Normalized share of profit from power associates and joint ventures increased by 55.9%, standing at THB 244.5 mm. Increase in normalized share of profit from power associates and joint ventures was mainly due

. The progress of a new non-hazardous waste landfill is approximately 50 percent, it is expected to be complete within Q4/2017. GENCO and OTANI (Japan) have reached an agreement to invest in a pre