Management Discussion and Analysis 1. Significant events in the third Quarter of 2019 1.1 The progress in construction projects 1.1.1 Project completion - SBPL Project, a project of San Buenaventura Power Ltd

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS Q4/2019& FY 2019 MD&A PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q4 2019 and FY2019 Global

million derived from gain (loss) from investment value of the associates with the details as follows; 1. SAFE Energy Holdings Company Limited (SAFE) which is held 33.37 percent of total shares by ECF Power

For Q2/2017, Global Power Synergy Public Company Limited (GPSC) (“the company”) had a net profit of Baht 815 million, increased by Baht 65 million or 9% from Q1/2017. The increase is due to not only

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

Republic of Korea with strongest local partners Establishment on 28 February 2019, B.Grimm Power Korea Limited is now ready for our effective expansion of renewable power business in the Republic of Korea

revenues, a drop of 18.45% or Baht 6,626.87 million from the prior year. Construction revenue decreased because Xayaburi Hydroelectric Power Project is now close to project completion. Cost of construction

23.63% or Baht 6,863.03 million from the same period of the prior year. Construction revenue decreased because Xayaburi Hydroelectric Power Project is now close to project completion. Cost of construction

PowerPoint Presentation MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q4/2017 and FY2017 GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP Management Discussion

11.77 (587.5) (10.6%) 6,713.8 14.30 (1,785.0) (26.6%) Breakdown of sales revenues by business group Product Group 2017 2016 2015 Revenue % Revenue % Revenue % Power Electronics Group 36,672 74.4 33,481