PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1/2018 GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED Management Discussion & Analysis

of 530 million baht or 2.12 baht per share, decreasing by 46% y-y. The financial performance can be summarized as follows. Overview The Thai economy in the first quarter of 2020 contracted by 1.8

2019 2018 YOY % Operating profit 457.27 403.89 53.38 13.22% Depreciation 124.10 100.14 23.96 23.92% Amortization 78.25 73.92 4.32 5.85% EBITDA 659.62 577.96 81.66 14.13% 2. ECONOMIC SITUATION Thai

esthetics. 2. Overview of operating results in the Quarter 1’2019. From 2018 to the first quarter of 2019, the global economy still has risk factors from international political and economic tensions

implementation of the amended Thai Labor Protection Act 3 Adjusted EBITDA is calculated from Profit (loss) before income taxes, plus Finance costs, plus Depreciation and Amortization, deduct gain from exchange

of 530 million baht or 2.12 baht per share, decreasing by 46% y-y. The financial performance can be summarized as follows. Overview The Thai economy in the first quarter of 2020 contracted by 1.8

. Notwithstanding, the market volume of Thai vitamin C drink appeared to enjoy a pleasant growth rate Revenue from sales by product group Unit: THB million 2019 % 2020 % Amount Percent Branded products by our own

Expenses 1,148.8 2,103.6 1,123.0 (954.8) (45.4%) 25.8 2.3% Profit for the period 59.7 132.8 102.8 (73.1) (55.0)% (43.1) (41.9)% Overall, the global economy is likely to slow down significantly due to the

Expenses 1,148.8 2,103.6 1,123.0 (954.8) (45.4%) 25.8 2.3% Profit for the period 59.7 132.8 102.8 (73.1) (55.0)% (43.1) (41.9)% Overall, the global economy is likely to slow down significantly due to the

Thailand and Office of the National Economic and Social Development Board data, the Thai economy in the fiscal year 2021 expanded by 1.6% (y-y), recovering from a contraction of 6.2% from previous year, that