Company Limited and its subsidiaries are comparative performance of the financial position as of 30 September 2018 and 31 December 2017. Total Assets As of 30 September 2018, the company and its

% Inventories 879 1,044 -16% Other current assets 184 180 +2% Total current assets 2,315 2,106 +10% Property, plant and equipment 2,034 2,071 -2% Investments in joint venture 53 53 - Other non-current assets 160

-Translation- Ref. WINNER 006/2020 February 27, 2020 Subject: Management Discussion and Analysis (MD & A) for the year 2019 To: The President The Stock Exchange of Thailand 1. Analysis of Overall

* (%) 75.8% 62.9% Debt to equity (times) 1.0 0.8 Assets turnover* (times) 0.5 0.4 Remark: financial ratios were calculated based on The Stock Exchange of Thailand’s formula. *The Company didn’t restate the

2018 FINANCIAL POSITION ASSETS ASSETS BREAKDOWN 31 MARCH 2017 31 DECEMBER 2017 (Restated) (THB mn) % out of total (THB mn) % out of total Cash & cash equivalents and short-term investments 1,210 15.2

February 26, 2018 To: The President The Stock Exchange of Thailand Re: 2017 operating results We, Delta Electronics (Thailand) Public Company Ltd, would like to notify the Company’s 2017 operating

as Trans.Ad Group where its business is operating in a manner similar to a contractor and relies on a relatively greater proportion of high cost assets such as computers, software and installation, our

% Inventories 1,009 1,044 -3% Other current assets 184 180 +2% Total current assets 1,948 2,106 -8% Property, plant and equipment 2,136 2,071 +3% Goodwill 244 - - Investments in joint venture 52 53 -2% Other non

The Stock Exchange of Thailand 1. Analysis of Overall Operating Results and Financial Position of the Company and its subsidiary 1.1 Analysis of Overall Operating Results for the Company and its

-Translation- Ref. WINNER 006/2020 February 27, 2020 Subject: Management Discussion and Analysis (MD & A) for the year 2019 (Revised) To: The President The Stock Exchange of Thailand 1. Analysis of