cafés as well as the Company's ability to manage costs effectively. EBITDA margin in 2023 was 31.8%, slightly decrease from 2022. E B I T D A a n d E B I T D A M A R G I N : Q 4 / 2 0 2 3 K e y F i n a n

liabilities and license payable) was at 2.5x decrease from 2.9x in FY23 due to improving EBITDA and lower debt. Total equity was at Bt85,388mn, decreasing by -5.8% due to a decrease in retained earnings

/2024, the Company’s credit card revenue was 1,794 million baht, a decrease of 9.8% from the previous year, accounting for 36% of total revenues due to contraction of credit card receivable from the

mutual fund’s assets (inception date) respectively, through the performance measurement method as stipulated in the Notification of the Capital Market Supervisory Board Re: Rules for Management of Retails

performance to the date of registration of the mutual fund’s assets (inception date) respectively, through the performance measurement method as stipulated in the Notification of the Capital Market Supervisory

fund’s assets (inception date) respectively, through the performance measurement method as stipulated in the Notification of the Capital Market Supervisory Board Re: Rules for Management of Retails Funds

% of the total issued and paid-up shares of DTC, at the price of 12 THB per share. As a result, the Company reported a decrease in ownership of DTC from 22.58% to 17.58% and recorded a gain from the

or may cause a significant decrease in the value of the ordinary shares of the Business; or Tender Offer for Securities of Glow Energy Public Company Limited Form 247-4 Part 1 Page 5 9.3 any act

cash flow (“DCF”) and Guideline public company method (“GPCM”) when determine the fairness of valuation is reasonable to be between 1 : 5.44 and 1 : 5.92 (details as shown in attachment 1), therefore

Adjusted Book Approach method (Book value as of December 31, 2017 is THB 213.55 million) which was appraised by Phet Siam Appraisal Company Limited, an independent appraiser approved by the Securities and