strengthen supervision of listed companies, as proposed by the SET. The SEC also gives emphasis to effective enforcement, ensuring that wrongdoers in all cases, without exception, are subject to legal

profit (loss) attributable to equity holders (Exclude Gain (Loss) on exchange rate) 647.7 159.5 488.3 306.2% Net profit (loss) attributable to equity holders Margin (%) (Exclude Gain (Loss) on exchange

* (%) 23% 29% 28% (1%) 5% 22% 28% 6% Net profit margin (%) 15% 16% 16% (0%) 1% 14% 16% 2% * Exclude costs of depreciation and amortization 1 Management Discussion & Analysis Management Discussion & Analysis

) 0.94 0.92 0.64 48% 0.94 0.64 48% *Core Financials exclude IRSL ** ‘Integrated Oxides and Derivatives’ was previously called Olefins and the new nomenclature better reflects our sector especially post

expenses which was approximate to the year 2017. Exception the cost of financial which increased significantly or equivalent to Baht 22.58 million from the outstanding debt from the offering and issuance of

distribution and administrative expenses which was approximate to the same period of the last year. Exception the cost of financial which increased or equivalent to Baht 1.95 million from the outstanding debt

addition, the selling price of electricity has increase due to the rise in Ft rate resulting in a higher net profit in Q1/2018. Q1/2018 Financial and Operating Highlights * Exclude costs of depreciation and

agreements and dividend payment during the period. 1 GLOBAL POWER SYNERGY PLC. Q2/2017 Management Discussion & Analysis (MD&A) Q2/2017 Financial and Operating Highlights Unit: THB million * Exclude

% 6% 14% 16% 2% * Exclude depreciation and amortization expenses Management Discussion & Analysis (MD&A) Q3/2017 Management Discussion & Analysis The company’s operating revenue in Q3/2017 was Baht

%) 72% 2,700 3,175 18% Gross profit margin* (%) 24% 28% 27% (1%) 3% 22% 24% 2% Net profit margin (%) 10% 20% 16% (4%) 6% 14% 16% 2% Q4/2017 and 2017 Financial and Operating Highlights * Exclude costs of