คำอธิบายและการวิเคราะห์ของฝ่ายจัดการ 22 February 2019 Re: To clarify the financial statements as of 31 December 2018 To: President The Stock Exchange of Thailand WHA Corporation Public Company

shareholders’ equity increased by Baht 1,114.7 million driven by increase of profit during the period. 4) Key Financial Performance Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Return on equity (ROE) 12.8% 12.0% 13.5

2019, mainly due to a decrease of Other Components of Equity of Baht 1,532.6 million from unrealized loss from financial instrument of Associates and Joint Ventures according to TFRS 9 accounting

continuously the revenues as planned whereby reduce further its debts by repaying these to the financial institutions, the debt to equity ratio may decrease further by year end 2017. 7 2017 MD&A: PACE

administrative expenses totaling Bt2,530. 6 million, an increase of Bt259. 9 million or 11. 4%(y-o-y) and operating profit before financial costs, EBIT amounted to Bt1,424.5 million, a decrease of Bt114.4 million

Company reported net loss attributable to the equity holder of the Company was 338.6 million baht. Loss per share for this quarter was 0.16 baht. Notable Event 1Q2020 Airline Business 1. The COVID-19

and Analysis For the 1 st Quarter Ended 31 March, 2018 Page 2 2. Operation performance according to consolidated financial statement Unit : Million Baht 2018 2017 Revenue from sale and rendering of

to the decrease in financial cost. For the nine-month period, the Company had the net profit attributable to equity holders of the Company before gain on fair value adjustment of investment due to

transaction size according to the based on the review report and interim consolidated financial statements of Eureka Design Public Company Limited for the three months period ended March 31, 2019. And The

SHAREHOLDERS’ EQUITY Since the beginning of 2020, the Company has adopted the new financial reporting standards related to financial instruments and leases. The cumulative effect of initially applying these