. บรษัิท โกลบอลกรนีเคมคิอล จํากดั (มหาชน) Management’s Discussion and Analysis | 3 Note : (1) Adjusted EBITDA refers to EBITDA excluding impact of Stock Gain/(Loss) and NRV Operating Performance Table 1

2015 strategic plan adjusted to align with his vision presented before the SEC Board in the candidacy for the SEC Secretary-General post. The adjusted framework will focus primarily on understanding

price in Q2/2019 compared to Q2/2018 adjusted downward by 4.52 $/BBL due to anxieties expressed in regards to global economic recession, which is a result from the trade war between the US and China

imposed by the International Maritime Organization (IMO) which will be in full effect on the 1st of January, 2020, which dictates that international vessels and bunkers are to use fuel with Sulphur

price. Nevertheless, the company had improved the feedstock management, resulting in the recorded adjusted EBITDA of THB 346 million, a little decrease from the previous year by 2%. In addition, the

over net earned premium increased from 57.77% in the same quarter last year to 62.51%, as the terms and conditions of compulsory motor insurance had been adjusted in accordance with the notification of

declined from 63.48% to 58.46% mainly because the Company had adjusted the premium rate and condition of some non-motor policies. The overall loss ratio therefore was in decline. 2. Net investment revenue

% 4.6% -1.4% 3.9% 6.0% -2.1% Stock Gain/(Loss) & NRV -149 -425 -65% -233 -36% -382 -458 -17% Adjusted EBITDA(1) 286 653 -56% 444 -36% 730 998 -27% Adjusted EBITDA Margin (%) 6.8% 13.5% -6.7% 9.6% -2.8

discount since the demand and supply of biodiesel close to equilibrium. With deducting the effect of Stock Gain & NRV of THB 92 million, the Company had Adjusted EBITDA of THB 253 million, an increase of 18

ประธานกรรมการ สภาธุรกิจตลาดทุนไทย เพื่อหารือนโยบายและแนวทางในการขับเคลื่อนตลาดทุนไทยร่วมกัน ได้แก่ การส่งเสริมการลงทุนในกองทุนรวมไทยเพื่อความยั่งยืน (Thai ESG), การส่งเสริมการนำ Free Float Adjusted Index