%) - XPCL : The operating result was lost by Baht 26 million due to low electricity revenue, caused by the low amount of water. The commencement of XPCL on October 29, 2019. Page 9 KEGCO: Unit : Million Baht

and the consolidated net debt to equity ratio was considerably low at 0.25 time. GFPT Public Company Limited Interim Management Discussion and Analysis for the 3rd Quarter 2019 Page 2 of 13 Overall

20231030-ADVANC-MDA-3Q23-EN 3Q23 MD&A Advanced Info Service Plc. 1 Executive Summary 3Q23 illustrated AIS core business growth from quality focus despite low season challenges. 3Q23 Thai economy

percent, a drop from 0.78 percent in the same period last year and 0.66 percent in the last quarter, reflecting the low overall cost of production and the slow recovery in household purchasing power. The

, an increase in agricultural prices and the increase in overall wage especially in the low income segment are met, these might help the recovery to become sufficiently broad-based. 2) Public and private

. The JV with Huvis in low melt fibers in USA is also on track for commissioning in 2020. The reorganisation of the Fibre business into these three verticals has been well received by global customers and

volume increased as the mandated B100 proportion in diesel was at 7% all year. However, performance was affected by the low crude palm oil price situation in the country, leading B100 price to decline in

pollution, and is a method to support farmers producing which is currently in a state of market oversupply and are selling at low price levels. March o The Company detected an irregularities in the

. In addition, Gross Refinery Margin was still at the low level. This has affected the performance of the petroleum related business. However, demand for consumption of finished products see signs of

dollar since the beginning of 2017. Furthermore, despite three policy interest rate increases in 2017, to 1.25-1.50 percent, global interest rates remained low, contributing to a “search for yield” and