amalgamated companies at their book values, eliminated by significant inter-company transactions, and the goodwill from the Amalgamation will not be occurred. Operating Results - Translation - 2 Total Revenues

interest), total assets and liabilities of the amalgamated companies at their book values, eliminated by significant inter-company transactions, and the goodwill from the Amalgamation will not be occurred

past, there are significant changes in groups including management structure, business operation structure and management strategy in order to increase business efficiency and growth, moreover suspend

-year. Significant cost of sales consisted of cost of goods, imported freight, packaging cost and other import related expenses. Cost of sales is accounted for approximately 36.82 % of sales revenue with

have completed a couple of significant projects contributing to higher recurring revenue going forward. Revenue from overseas markets has improved YoY but was offset with the reduction in non-recurring

nine months ended 30 September 2019 and 2020 were THB 376.95 million and THB 385.01 million, respectively, or equivalent to a gross profit margin of 67.64% and 54.84%, respectively. The significant drop

securities was Baht 16,009 million, compared to Baht 19,200 million in the same period last year. Significant Items in the Financial Position Assets Million Baht Item September 2019 June 2019 December 2018

is expected to be significantly better than that of 2020. This is evidenced by a 9 months 2020 profit of Baht 1.27 million to a significant profit of Baht 895.49 million for 9 months 2021. Yours

a significant start to solving the problem, and therefore would like to invite everyone to continue your support and take part in this project,” said SEC Secretary-General Ruenvadee Suwanmongkol

Page 2 Management Discussion and Analysis 1. Significant events in the first Quarter of 2018 1.1 The progress in construction projects 1.1.1 Process of construction - Xayaburi Project, a project of the