S&P MD&A Q3_2018-ENG -1- Ref. POL. 119/2018 November 09, 2018 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P

-owned enterprise, which the Company has signed the contracts since the fourth quarter of 2017. Related technology business In Q1’ 2018, the Group generates revenue of Baht 166 million from related

Company Limited (“the Company”) would like to submit the management’s discussion and analysis of our operating results for the year 2018 period ended December 31, 2018, as follows: (Unit: Baht million

the 2018, the company and its subsidiaries have the total revenue from sales in amount of Baht 10,249.4 million which is decreasing from the 2017 at equivalence of Baht 2,060.1 million, about 17%. These

the 2019, the company and its subsidiaries have the total revenue from sales in amount of Baht 9,440.3 million which is decreasing from the 2018 at equivalence of Baht 809.1 million or 8%. These caused

the Q2/2017, the company and its subsidiaries have the total revenue from sales in amount of Baht 3,199.0 million which is increasing from the 2016 at equivalence of Baht 379.4 million, about 13%. These

in the Q3/2017, the company and its subsidiaries have the total revenue from sales in amount of Baht 3,282.3 million which is increasing from the 2016 at equivalence of Baht 453.3 million, about 16

359.39 million baht comparing to September 30th, 2016 mainly due to the increase in sales as well as trade and other receivables around 141.42 million baht. Besides, this year the Company has managed the

the 2017, the company and its subsidiaries have the total revenue from sales in amount of Baht 12,300.9 million which is increasing from the 2016 at equivalence of Baht 1,200.2 million, about 11%. These

2019_Q1_MDA_ENG Ocean Glass Public Company Limited Page 1/3 Management Discussion and Analysis Operating Results In the 1st quarter of 2019, Ocean Glass Public Company Limited and its subsidiaries