GFPT Public Company Limited Interim Management Discussion and Analysis for the 2nd Quarter 2019 Page 1 of 13 Management Discussion and Analysis This interim MD&A report has been prepared based on the

, the consolidated current ratio was 1.68 times, the net debt to equity ratio was low at 0.30 time. GFPT Public Company Limited Interim Management Discussion and Analysis for the 2nd Quarter 2018 Page 9

GFPT Public Company Limited Interim Management Discussion and Analysis for the 3rd Quarter 2018 Page 1 of 13 Management Discussion and Analysis This interim MD&A report has been prepared based on the

and the consolidated net debt to equity ratio was considerably low at 0.25 time. GFPT Public Company Limited Interim Management Discussion and Analysis for the 3rd Quarter 2019 Page 2 of 13 Overall

presented at Baht 75.92 million, decreased by 52.29% from last year. Comprised of shutdown for cold repair Furnace A amounted Baht 25.91 million and shutdown for inventories management amounted Baht 50.01

1 Ref FN. 007/2020 Management Discussion and Analysis For operation of the year 2019 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet business, featuring

รายงานการประชุมคณะกรรมการบริษัท ครั้งที่ 2/2547 -Translation- Date : 12 March 2019 Subject : Management Discussion and Analysis for the operating results for the year ended 31 December 2018 To

1 Ref FN. 026/2019 Management Discussion and Analysis For operation of the first quarter of year 2019 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

% 37.9% Return on Equity * 22.4% 47.6% Working Capital Management (Days) Trade Receivable Period 62 74 Inventory Period ** 40 37 Trade Payable Period 46 46 Leverage Ratios (x) Interest Coverage 3,923.2

Baht 26.44 million from mutual fund and private fund managements fee from Solaris Asset Management Company Limited (Solaris) decreased.  Gain and return on financial instruments decreased of Baht 22.50