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

Issued by JPM# A PTG41C2310A 4 Call Warrants on PTT Issued by KGI # Call Warrant on PTT Issued by KGI# A PTT13C2310A 4 Call Warrants on PTTEP Issued by KGI # Call Warrant on PTTEP Issued by KGI# A

Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between the two languages, the Thai version shall prevail

was declined to 25. 85 Baht/ kg. , a decrease of 2.06 Baht/kg. or 7% from FY2018, corresponding to crude palm oil price downward. The average EPPO P2F in 4Q2019 ( the difference between ME EPPO price

acquisition date. And lastly, the Company has evaluated fair value of identifiable assets and liabilities as at the acquisition - Translation - Page 10 of 11 date. Difference between the fair value of net

amounted to THB 418 mn and THB 67 mn respectively. The difference versus GLAND’s reported statement of comprehensive income comes from the investment properties that CPN recorded at the time of acquisition

143 mn). The difference versus GLAND’s reported statement of comprehensive income comes from the investment properties that CPN recorded at the time of acquisition of GLAND, which reflected the fair

statement was Baht 63 million. The Company recorded a current income tax of Baht 414 million and deferred income taxes from temporary difference income of Baht 351 million For deferred tax benefits that are

total revenue of THB 453 mn and net profit stood at THB 77 mn. The difference versus GLAND’s reported statement of comprehensive income mainly comes from the investment properties that the Company

of THB 754 mn and net profit at THB 85 mn). The difference versus GLAND’s reported statement of comprehensive income mainly comes from the investment properties that the Company recorded at the time of