Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.16 31.12.17 31.12.18 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,228 1,119 1,154 Total Assets 1,361 1,242 1,268 Current Liabilities 914 784

Analysis Statements of Financial Position as at June 30, 2017 June 30, 2017 (Million Baht) December 31, 2016 (Million Baht) Change (%) Current Assets 1,238.6 1,360.2 (8.9) Non-Current Assets 1,832.8 1,665.6

(Million Baht) December 31, 2016 (Million Baht) Change (%) Current Assets 1,246.4 1,360.2 (8.4) Non-Current Assets 1,814.8 1,665.6 9.0 Total Assets 3,061.2 3,025.8 1.2 Current Liabilities 658.1 641.9 2.5 Non

124.89 million which was due to delay of project and delivery and inventories from the Company’s subsidiaries was increased by Baht 69.40 million. 3. An increase in other current assets at amount of Baht

to 2017 (Baht million) Statements of Financial Positions as of December 31 2015 2016 2017 Current assets Cash and cash equivalents 0.03 0.18 0.10 Temporary investment 0.02 - - Trade and other

Current assets Cash and cash equivalents 0.03 0.18 0.10 Temporary investment 0.02 - - Trade and other receivables 60.56 77.39 102.40 Short-term loans and related parties 3.56 87.82 113.12 Other current

Positions as of December 31 2015 2016 2017 Current assets Cash and cash equivalents 0.03 0.18 0.10 Temporary investment 0.02 - - Trade and other receivables 60.56 77.39 102.40 Short-term loans and related

at September 30, 2020 September 30, 2020 (Million Baht) December 31, 2019 (Million Baht) Change (%) Current Assets 1,388.8 1,342.8 3.4 Non-Current Assets 2,270.1 1,886.4 20.3 Total Assets 3,658.9

Earth Tech Environment Public Company Limited 11th November 2020 Subject Management Discussion and Analysis Financial Performance for the quarter ended 30th September 2020 To President The Stock

per share, equivalent to 51 percent of the total S-TREK shares (the “Sale Shares”), from a current shareholder named Mr. Jirasak Prempojwattana (“Mr. Jirasak” or the “Seller”), for a total value of Baht