Thailand Focus 2022

Thailand | Market Update Thailand Energy Overview Natural Gas Supply FY 2020 FY 2021 5M 2022 FY 2020 FY 2021 5M 2022 MMSCFD Domestic Myanmar LNG 4,378 Domestic Myanmar LNG 4,726 Domestic Myanmar LNG 4,699 0 1,000 2,000 3,000 4,000 5,000 Natural Gas Consumption MMSCFD Electricity Industry GSP NGV 4,339 Electricity Industry GSP NGV 4,395 Electricity Industry GSP NGV 4,368 0 1,000 2,000 3,000 4,000 5,000 Source: Energy Policy and Planning Office (EPPO) FY2020 FY2021 5M 2022 o Increase in energy demand & become closer to demand before COVID-19 pandemic, along with high level of energy prices o As of May 2022, compared with the same period of last year: significantly declined in domestic supply, while gas from Myanmar and LNG imports remained constant. Electricity Generation 55% 39 38 37 36 35 34 33 32 31.3 31 30.0 30 GWH 29 20 3% 16% 15% 11% 33,123 54% 2% 17% 16% 11% 209,717 55% 2% 18% 14% 10% 206,034 Natural Gas Imported | Hydro Electricity Renewable Energy Coal & Lignite 22 27 32.1 Exchange Rate Movement (USD/THB) Q1 Q2 Q3 2021 33.9 PTTEP 37.5 36.5 (High) 35.5 35.3 35.0 (Average) 34.0 33.3 33.5 (Low) 33.4 74 Q4 Q1 22 Q2 Q3 Q4 2022 Consensus on the exchange rate mostly depends on o General investor risk-off sentiment from persistent inflation and supply chain disruptions 。 Bank of Thailand and Federal Reserve monetary policy tightening schedule o Thailand tourism recovery as lockdown measures ease and countries reopen Source: Bank of Thailand, Bloomberg Forecast based on Bloomberg Consensus as of 14 July 2022

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