E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ended March 31, 2018 In the first quarter of 2018, Thai economic growth gained

of Baht 88 million. However, the company gained dividend income from affiliates of Baht 696 million and net cash flow from other investing activities of Baht 72 million. • Net cash used in financing

transaction gained or paid x 100 Total asset of listed company = 411.79 x 100 712.99 = 57.76% Transaction’s size based on total value of considerationis57.76 % Transaction’s size based onvalue of equity shares

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction

21.7 percent. A largely decrease was mainly from gain on sales of investments in marketable securities which dropped by 1,353.4 million baht or 77.9 percent. However, the Company has gained on foreign

leading to the consideration that such requirements or conditions to be exempted are insignificant to the consideration of the application for approval in such particular case and the benefits to be gained

performance, the quality of its corporate governance, and its long-term business success. The term ESG has gained widespread acceptance and use within investor circles. For example, the Principles for

Management 36 1 1. Overview of Operating Environment 1.1 Global and Thai Economy in the Third Quarter of 2017 Overall, the global economy gained traction throughout the first nine months of 2017. Bright

corporate governance, allowed KBank and K Companies to meet business targets as we gained wide acceptance and recognition at home and abroad, as reflected in the numerous awards we received in 2018. C

operating activities For the first half of 2017, the company and its subsidiaries had net cash gained from operating activities of Baht 1,997 mill ion, which increased from cash received from operating