Discussion & Analysis (MD&A) Q3/2018 For the 9M/2018, the company and its subsidiaries had a net increase in cash and cash equivalents increased by Baht 1,786 million or 42% from the fiscal year of 2017

with the key benchmarks: - Discussion and analysis on the financial condition and the operating results during the past two fiscal years is required only when they have a significant impact on the

could include, for example, the impact of inflation, the impact of foreign currency fluctuations, and any governmental economic, fiscal, monetary or political policies or factors that have materially

economic, fiscal, monetary or political policies or factors that have materially affected, or could materially affect, the company’s operations. Also disclose any significant components of revenues and

Cambodia and to connect payments between Cambodia and Thailand; and the revision of policies and principles governing housing loans in Thailand as a proactive measure to promote financial stability, etc. 5

of Heavy crude oil, after production limitation were put in place since the past January, accompanied by gradual closure of Japanese refineries according to the measure to increase Cracking to CDU

purposes only and does not predict or depict the performance of the Fund. ** The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market

government’ s measure to peg retail Diesel price at THB 30 per liter, in order to alleviate tension for consumers and businesses in the transport sector during times of high fuel price; although there was a

BOT's measures. The BOT has issued a measure to provide a six- month loan payment holiday for all SMEs with a credit line not exceeding Baht 100 million, aiming to provide them with much-needed liquidity

PowerPoint Presentation MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q4/2018 and FY2018 GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED 0 THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP Management Discussion & Analysis Management Discussion & Analysis (MD&A) Q4/2018 and FY2018 Executive Summary Executive Summary For 2018, Global Power Synergy Public Company Limited (GPSC) (“the company”) earned a net profit of Baht 3,359 million, slightly increased by Baht 184 million or 6% from 2017. The increase was due to...