V2 14/05/62 0 V2 14/05/62 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in the First Quarter of 2019 The Thai economy in the first quarter of 2019

2.03 27% Core EBITDA/t (US$/t)) 107 100 94 14% 97 86 13% Net Operating Debt to Equity 0.84 0.80 0.99 0.84 0.99 Note: (1) Consolidated financials are based upon elimination of intra-company (or intra

V2 13/11/61 17:55 น. 0 V2 13/11/61 17:55 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in the Third Quarter of 2018 The Thai economy in the third

Mobile competition in 1Q21 was stable as the price point for unlimited plans had been maintained. Although the industry attempted to uplift ARPU by introducing larger unlimited package, the new acquisition

pressure during the low season and flood impact, temporarily boosting purchasing power and alleviating some local concerns. The mobile industry maintained positive sentiment despite the low season, along

as a market leader in delivering an excellent user experience. Broadband and Enterprise businesses continued the growth momentum with distinctive products and industry collaboration Fixed broadband

customers, has been pressured by high household debt. Therefore, spending expenses are carefully controlled. Notwithstanding, the entrepreneurs in retail industry have to adjust themselves to increase the

1,848per ton in 2017. Management’s Discussion and Analysis (MD&A) for year 2017 2 As the result of EGM holding on 30 August 2017, the shareholders voted down the Debt Equity conversion. On 13 November 2017

cash margin by Baht 1,848per ton in 2017. Management’s Discussion and Analysis (MD&A) for year 2017 (Revised) 2 As the result of EGM holding on 30 August 2017, the shareholders voted down the Debt Equity

บริษทั พาโตเคมอุีตสาหกรรม จ ากดั (มหาชน) PATO CHEMICAL INDUSTRY PUBLIC CO., LTD. Pato Building, 3388 New Petchburi Road, Bangkok 10310, Thailand Tel: (+662) 318-0360 Fax: (+662) 318-0367 E-mail