) Orderly transition – temperature increases kept below 2C, meeting the Paris Agreement 2) Disorderly transition – temperature increases kept below 2C but with delayed and sudden policies 3) Failure to meet

areas. • A “disorderly” and rapid transition. • Some international and national climate policy (no change). • Slower changes to the energy mix and infrastructure. • Price of raw materials increases. The

, Liquidity, and Volatility Resilience Against Turbulent Events & Market Breakdowns Fair, transparent and non-discriminatory access Investor Protection, Enhance the Perceived Fairness of the Markets, Investor

THB 70 million, due to turbulent average oil price seen throughout the quarter; oil price in February to March 2018 lowered significantly when compared to January 2018. However, in Q1/2017 Inventory