E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ended March 31, 2018 In the first quarter of 2018, Thai economic growth gained

economy continued to expand during 2Q17 and for the first half of 2017 with growth contributed from the following 3 sectors: 1) Export sector continued to expand with growth for the first five months of

economy continued to expand during 2Q17 and for the first half of 2017 with growth contributed from the following 3 sectors: 1) Export sector continued to expand with growth for the first six months of 2017

sustain its growth. Overall, however, it was plagued by weak exports and tourism amid the global economic slowdown. Aside from these challenges, businesses had to contend with more complex competition

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impressive 4.8% growth. Central bank forecasts for the full year are around 4.5% and with inflation only just breaking into the 1-4% target band (1.2% in Q2) coupled with uncertainty around global trade the

3.4 billion in 2018 and 3.4 billion in 2017. Cash and financial investments in 2019 remained stable at THB 8.7 billion, due to EBITDA 2.5 billion less final dividend THB 0.8b 2018 paid in Q219, interim

1.07 1.08 Sales revenues of this quarter increased to Baht 12,296 million, 9.1% up from Baht 11,273 million in the same period last year, driven by sales growth of EVSBG products (Electric Vehicle

increased by 13.9 percent compared to the same quarter of the previous year and increase by 20.1 percent from the quarter 2/2017 in which the Chinese market is still the major market and continuously growth

private consumption and private investment. Private consumption grew notably in durable goods segment (especially in vehicles) while growth in non-durable and semi-durable goods contracted partly from the