Global Green Chemicals Public Company Limited Management Discussion and Analysis | 1 Management Discussion and Analysis For the operating results of 2Q/2019 Global Green Chemicals Public Company

(Translation) Management’s Discussion and Analysis For the operating results of Quarter 2 2017 Global Green Chemicals Public Company Limited Management’s Discussion and Analysis Global Green

Global Green Chemicals Public Company Limited Management Discussion and Analysis | 1 Management Discussion and Analysis For the operating results of 1Q2019 Global Green Chemicals Public Company

shares. ETP will enter into the transaction by purchase 4,754,398 direct ordinary shares or equal to 18.75 percent of Apex Energy Solution Company Limited ("APEX"), with a price of 18.9298 Baht per share

) 26.1 Share of Profit from Investments in Associates and Joint Ventures6 201.1 685.9 484.9 241.1 Income Tax (Expense) Income5 (17.1) (4.8) 12.3 (71.9) Profit attributable to Owners of the Parent 260.2

Management’s Discussion and Analysis For the operating results of 2Q2018 Global Green Chemicals Public Company Limited Global Green Chemicals Public Company Limited Management’s Discussion and

Management’s Discussion and Analysis For the operating results of 3Q2018 Global Green Chemicals Public Company Limited Global Green Chemicals Public Company Limited Management’s Discussion and

Global Green Chemicals Public Company Limited Management Discussion and Analysis For the operating results of 3Q/2019 Global Green Chemicals Public Company Limited Management Discussion and Analysis

subsidiary held 99.99 percent by the Company. At the present, SAFE could gain profit from biomass power plant project with installation capacity 7.5 MW of Prize of Wood Green Energy at Narathiwas Province

Administrative Expenses (69.3) (152.9) (83.6) 120.6 Finance Costs (404.0) (459.9) (55.9) 13.8 Share of Profit from Investments in Associates and Joint Ventures 962.5 1,936.1 973.7 101.2 Income Tax (Expense) Income