. Financial Cost Finance costs of existing businesses decreased by Baht 20. 98 million, due to the repayment of short- term loan by using money from the initial public offering. The Solar energy business

earnings in the amount of Baht 3,480.00 million. 3.3.3 Change in fair value of the investment in EDL-Generation Public Company decreased the equity in the amount of Baht 645.98 million. Management Discussion

materials derogation and a declining of non-current assets of THB 300 million, which was mainly due to an increase in capital utilization from initial public offering (“IPO”) for investment in Methyl Ester

afterward. The capital increase from Initial Public Offering would result in the marked decrease in Debt- to-Equity ratio and financial costs going forward. On November 14, 2019, the Company entered into the

been as expected while the current take-up rate was circa 95%. Significant Events Previously, the Company’s Board of Directors approved the initial public offering (the "IPO") of ordinary shares of S

subscription, termination of the offering and return of subscription money can be found in the registration statement and the prospectus. Clause 41/13 In an initial public offering for units, if the approved

, telecommunication network and operates solar power plant. The Company received approval from the Security Exchange Committee to proceed initial public offering of new common stocks to public on 13 January 2017. The

relation to Project Crossroads Phase One. In addition, there are non-recurring items which comprise of expenses related to the Initial Public Offering, Pre-operation expense of Project Crossroads Phase One

equity and equity-linked securities in the capital market and derivatives market, with short-term investment not more than 1 year by applying Arbitrage investment strategy as well as issuing and offering

Management Discussion and Analysis For the first quarter ended March 31, 2020 (Unreviewed) Kiatnakin Bank Public Company Limited Investor Relations Email: investor_relations@kiatnakin.co.th Tel. +66