Sovereign Rating Impact Very strong +2 Strong +1 Moderate 0 Weak -1 Very Weak -2 Historical data analysis Momentum adjustments: Near-Term 5Y Overlay from Analysts Output from ESG sovereign

due largely to major public and private projects delays to Q2/2019 and Q3/2019; - Wholesales/Retails down 6% Y-O-Y mainly from a highly competitive environment and weak consumer spending; - Whilst

. It was still challenging for telecom sector particularly in the mobile business due to weak consumer spending and revenue loss from traveler sector due to international travel restriction. Fixed

last year, the main result from gain on sale of investment amount of THB 17.92 million. Although, the economic situation in the country remains weak, the Company keeps focus on new customers and new

result of the fall of Caustic Soda and Epichlorohydrin (ECH) selling price from BIS issue in India and weak Epoxy demand, respectively. Except greater ECH sales volume from strong demand of ECH key

for Epichlorohydrin from the weak Epoxy demand. Analysis of Cost and Expenses 1. In Q2 2019, Cost of sales was 3,696 MTHB, increased by 292 MTHB comparing to 2018 or 8.6% due to higher sales volume

renewable energy, and providing direct financial support for new renewable-energy projects at a community level in key regions. 4 VE scale of assessment: Weak / Limited / Robust / Advanced 2 SCOPE Vigeo Eiris

uncertainty. Assuming that investors are able to calculate variability of future earnings and employ it as an estimation of fundamental risk. They perceive that future earnings variability is lower for firms

Officials in International Business Transactions, the UN Guiding Principles on Business and Human Rights, and the ILO Declaration on Fundamental Principles and Rights at Work, which are referenced in the

living of household rises, which was still with the weak purchasing power. Banks are not lending for fear of affecting the collection, the market is increasingly competitive so affected our customers