% Total liabilities and equity 4,167 100.0% 4,762 100.0% * The Company restates the financial performance starting from 1 August 2018 after the measurement of fair value of Trans.Ad Group’s identifiable

Nexif Ratch Energy Rayong Company Limited (NRER). On April 21, 2020, NRER was successful in making the first drawdown with financial institutions under its project financial agreement. The project is a

shareholders’ equity was mainly caused by the Company’s retained earnings from the Company’s performance. Financial Ratio Financial Ratio As of December 31, 2018 Liquidity Ratio (times) 24.87 Cash Conversion

7,218.18 100.00 7,068.16 100.00 6,687.21 100.00 Financial ratio Consolidated financial statements unit 2018 2017 2016 1. Current Ratio times 3.29 3.45 3.20 2. Debt to Equity Ratio times 0.24 0.23 0.23 3

Page 1 of 4 GEL.CS.006/2562 14 November 2019 Subject: Management Discussion and Financial Analysis for the operating results of the third quarter of 2019, ended September 30, 2019 To: Director and

by issuing debentures with fixed interest rate from 2.05 to 3.01 percent per annum to reduce financial cost and risk management from floating interest rate. As a result, the Company has saved interest

million or 34% due to the Company repaid short-term borrowing from financial institutions amounting to THB 493.15 million or 94.27% Shareholders’ equity As at 30 June 2018, the Company and subsidiaries had

Analysis of the Company’s Performance for the Six Months Ended June 30, 2018 Baht Million 6M/60 6M/61 +/(-) +/(-) % Total Revenue 537.24 698.02 160.78 29.93% EBIT 153.50 211.15 57.65 37.56% Financial Cost

. Increased in Income tax payable of THB 39.56 million. Decrease in Long term borrowings from financial institution and related parties THB 60.85 million. Equity As at March 31, 2020, the Company and its

Financial Summary in FY18 Income Statement MB % MB % MB % MB % MB % Income from rending of top-up service for prepaid phone and other online service (Commission) 353.01 42.4% 346.47 41.7% 339.36 41.4% -2.1