. 004 / 2021 March 1, 2021 Subject Explanation of the operating performance for the year 2020 To Managing Director The Stock Exchange of Thailand Pan Asia Footwear Public Company Limited would like to

(Ending September 30, 2019) To Director and Manager of the Stock Exchange of Thailand Ubis (Asia) Public Company Limited (“the Company”) would like to clarify on the performance and the financial for Q3

EBITDA/t (US$/t)) 122 107 91 34% 105 86 22% Net Operating Debt to Equity 0.57 0.84 0.91 (37)% 0.57 0.91 (37)% Note: (1) Consolidated financials are based upon elimination of intra-company (or intra

slow growth in the new restaurant and hotel project , while export sales decreased by 10.8% due to the slowing sales in America, ASEAN, and South Asia which was affected by the change in government

Financial Cost 8 8 - Net Profit 29 65 (55) (Unit : Million Baht) Financial statements in which the equity method is applied Q2/2018 Q2/2017 % Change Sales 469 521 (10) Gross Profit Margin 379 396 (4) Selling

(Ending March 31, 2020) To Director and Manager of the Stock Exchange of Thailand Ubis (Asia) Public Company Limited (“the Company”) would like to clarify on the performance and the financial status for the

consolidated profits attributable to equity holders of the parent of Baht 233 million and Baht 738 million for the third quarter and nine month period of 2019, representing decreases of 18% and 4%, compared to

share of profit from SouthEast Asia Energy Limited, a joint venture in proportion of 33.33 percent, increased in the amount of Baht 51.81 million, mainly due to the higher electricity generation

2.03 27% Core EBITDA/t (US$/t)) 107 100 94 14% 97 86 13% Net Operating Debt to Equity 0.84 0.80 0.99 0.84 0.99 Note: (1) Consolidated financials are based upon elimination of intra-company (or intra

188 61% 1,037 853 21% Net Operating Debt to Equity (times) 0.53 0.45 0.57 (7)% 0.53 0.57 (7)% 1Consolidated financials are based upon elimination of intra-company (or intra-business segment