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, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business sector remained challenged by new modes of competition in a broader marketplace amid the advancing digi...

upgrade and 4) interest cost saving. Even though there was a 5.3% y-on-y increasing gas cost per unit in 2019 while a sight increase in Ft charge. • NNP / NNP - owner of the parent increased 118.4% / 94.5

stronger role in the over- sight of risk management policies as well as implementing effective remuneration policies. Priority 6: Shareholder engagement should be encouraged and facilitated, in particular by

i SUSTAINABLE FINANCE INITIATIVES FOR THAILAND In collaboration with Sustainable Finance Initiatives for Thailand P a g e | 2 Contents 1. Foreword ................................................................................................................................................ 3 2. Executive Summary .............................................................................................................................. 5 3. Background and Motivations for Developing the Initiat...