(Translation) NEP-AC 001/2562 28 February 2019 Subject : Management Discussion and Analysis for year ended 31 December 2018 To : The President The Stock Exchange of Thailand Operating Result NEP

amounted Baht 140.05 million. This was due to cost management by carefully set up own operational and maintenance for machines and equipment of solar farms. • Operating and Administrative expenses for the

August, 2020. However, the operating result without consideration of the effect of FX gain (loss) of the Company and subsidiaries showed the profit of THB 2,516.29 million. Management Discussion and

integration and management of Long-Term Service Agreements (LTSA) to achieve highest efficiency and reduce operating costs. In addition, the Company is also focusing on (i) improvement of procurement process

. RESULTS OF OPERATION (Unit : Million Baht) Consolidated Financial Statements 2018 2017 % Change Revenue from Sales and Services 1,708.3 1,633.8 4.6% - Operating Revenue1 1,679.7 1,570.2 7.0% - Other Revenue

Financial Statements 3Q'18 3Q'17 % Change YTD 2018 YTD 2017 % Change Revenue from Sales and Services 443.4 406.2 9.2% 1,288.9 1,199.6 7.4% - Operating Revenue1 423.9 404.2 4.9% 1,264.9 1,165.5 8.5% - Other

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

1 | MANAGEMENT DISCUSSION AND ANALYSIS 2019 Management Discussion and Analysis 2019 < Translation> 2 March 2020 KEY EVENT IN 2019 In 2019, UWC announced a corporate restructuring, which featured in

inconsistency in business management and reduce the chance of a labor dispute from the unfair termination of his employment. On 28 December 2023, NCL paid for the compensation without disclosing relevant

income until the gross profit being reported differently from the previous periods PAGE 2 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1 2019 The Proportion of Gross Profit in Q1/2019 Operating performance by