conjunction with the consolidated financial statements and notes to financial statements. If not defined otherwise, all financial information presented in this document are in Thai Baht. The company presented

million or 67% due to the increase in Energy Payment (EP) and the increase in Availability Payment (AP). The availability rate was increased from 99% to 100% with the depreciation of Thai Baht, which are

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction

follows. Overview According to the Bank of Thailand and Office of the National Economic and Social Development Board data, the Thai economy in the third quarter of 2018 expanded by 3.3%, decreased from 4.6

Phayathai in July. The Company focuses on selling products made from Thai fruits and has received overwhelming feedbacks from health-conscious customers. This has resulted in the opening and the operation of

global economy volatility impacted to Thai Baht appreciation against major currencies, i.e. USD, have had negative effect to the export business while the importer took this opportunity importing products

Announcement of RML big lot of 250mn shares, selling from Thai Prosperity Fund, the 2nd largest shareholder, to Country Group Holding Plc. at average price of THB 1.10. The changes of the shareholders did not

strengthening of the Thai baht against the US dollar and Euro in the period, which resulted in THB sales declining by Bt215 million (Table 1). Cost of Sales and Gross Profit The gross profit margin in 3Q19 of

was due to the weakening Thai baht against the US dollar and Euro in the period, which resulted in THB sales increasing by Bt93 million (Table 1). The increase in revenue in 1Q20 was due mainly to an

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending September 30, 2019 Thai economic activity in the third quarter of 2019