S&P MD&A 2017-Revised Year In Comparison Table -1- Ref. POL. 028/2018 February 23, 2018 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock

comparison indicating maximum, minimum and average returns among mutual funds in the same category and will thus serve as useful information for making investment decision. The proposed rules classify mutual

subsidiary and listed company, which was deemed dishonest act causing damage to GGC. They committed the offense with nine associates who were raw material distributors, namely (3) Anatta Green Co., Ltd

/2017 period ended of June 30, 2017 operating result of the company net loss Baht 2.43 Million in comparison with the previous Q2/2016’s net loss of Baht 11.33 Million a decrease of loss Baht 8.90 Million

0.78 Million in comparison with the previous Q3/2016 net loss of Baht 10.83 Million a decreased of loss Baht 10.05 Million or 92.79%. The reasons for such decreases are:- - Sale increased from Baht

Revenues 1,711.52 2,072.15 Selling & Administrative Expense 110.78 118.49 Finance Costs 27.51 20.44 Net Profit (12.84) (2.59) Earnings per share (Baht) (0.032) (0.007) The comparison between Third Quarter of

the year 2017 period ended of December 31, 2017 operating result of S.Pack & Print Public Company and Its Subsidiary in Statement of Comprehensive Income net loss Baht 17.54 Million in comparison with

profit Baht 1.31 Million in comparison with the previous year 2017 net loss of Baht 17.54 Million a decreased of loss Baht 18.85 Million or 107.47%. The reasons for such decreases are:- - Sale increased

Million in comparison with the previous Q1/2018 net loss Baht 1.71 Million increased of Baht 2.69 Million or 157.31%. The reasons for such increases are:- - Sale increased from Baht 269.92 Million in Q1

Company and Its Subsidiary in Statement of Comprehensive Income net loss Baht 1.71 Million in comparison with the previous Q1/2017 net loss Baht 6.65 Million a decrease of loss Baht 4.94 Million or 74.29