Ending Cash 31 Dec 18 (THB mn) MANAGEMENT DISCUSSION & ANALYSIS 2018 14 FEB 2019 U CITY PCL 2018 MD&A (for the year ended 31 December 2018) 11 U CITY PCL 15 MAY 2018 Net cash from financing activities was

River, North Sumatra Province, the Republic of Indonesia. It has commenced commercial operation since January 2011 and has 30-year power purchase agreement ending on December 31, 2040 with PT PLN (Persero

(281.62) 425.39 503.83 Cash and Cash Equivalents at the Beginning Balance 592.49 310.87 736.26 Cash and Cash Equivalent at the Ending Balance 310.87 736.26 1,240.09 Financial Ratios of GFPT Public Company

Equivalents 425.39 503.83 (152.84) Cash and Cash Equivalents at the Beginning Balance 310.87 736.26 1,240.10 Cash and Cash Equivalent at the Ending Balance 736.26 1,240.09 1,087.26 Financial Ratios of GFPT

and financial position for the third quarter and the nine months ending September 30, 2017 with those of 2016. This report discusses principal changes in the unreviewed consolidated financial statements

and Cash Equivalent at the Beginning of the Period 310.87 592.49 (281.62) Cash and Cash Equivalent at the Ending of the Period 692.56 345.92 346.64 GFPT Public Company Limited Interim Management

and financial position for the third quarter and the nine months ending September 30, 2017 with those of 2016. This report discusses principal changes in the reviewed consolidated financial statements

Balance 269.73 592.49 310.87 Cash and Cash Equivalent at the Ending Balance 592.49 310.87 736.26 Financial Ratios of GFPT Public Company Limited and its Subsidiaries 2015 2016 2017 Liquidity Ratio Current

section) This resulted in increase in total assets as of Mar-20 to Bt374,715mn, increasing +29% from ending Dec-19. In addition, cash also increased from strong operating cash flow, while new spectrum

180 million in Q3’2018 to unrealized loss of Baht 13 million in Q4’2018 due to a depreciation of the Baht against the U.S. dollar at the ending of each financial statement period; Tax Expense • Tax