PROJECTS Management’s Discussion and Analysis B.GRIMM POWER PUBLIC COMPANY LIMITED12 Disclaimer None of the Company makes any representation or warranty, express or implied, as to the accuracy or

implied, as to the accuracy or completeness of the information contained in this document or otherwise made available nor as to the reasonableness of any assumption contained herein or therein, and any

None of the Company makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document or otherwise made available nor as to the

, express or implied, as to the accuracy or completeness of the information contained in this document or otherwise made available nor as to the reasonableness of any assumption contained herein or therein

Disclaimer None of the Company makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document or otherwise made available nor as to

Management’s Discussion and Analysis B.GRIMM POWER PUBLIC COMPANY LIMITED12 Disclaimer None of the Company makes any representation or warranty, express or implied, as to the accuracy or completeness of the

& Chemicals Co., Ltd. (UAPC) General information on UAPC Type of business Production and distribution of chemicals, mainly latex (polymer emulsions and polymer solutions) Address Headquarters : 9/81 Soi

611.1 590.7 2,888.2% Gross Profit Margin 15.5% 42.2% GPM before adjustment with PPA 15.5% 57.3% 1. Rental and Service Income  Rental and service income from warehouses, distribution centers and factories

has cost competitiveness and will enhance the Company’s production base for emerging markets in Southeast Asia, while LQSF’s wide-coverage distribution that reaches almost all regions of Vietnam will

the Company has increased distribution channels to export content since the second quarter of 2018. Costs of program rights business mainly consist of amortization, dubbing and translation costs. For