. Pricing impact on revenue: the company realized overall higher prices in Q4 compared with previous months on same-customer comparison basis given the robust demand and increased input cost pressure on all

positively, private consumption remained robust through amid still- weak inflation. On 10th July, a new cabinet was formed that should largely see policy continuation; however, given the coalition’s slim

product portfolio. MACO is now also exploring potential opportunities to expand our network to neighboring countries in Southeast Asian. We are responding to robust economic growth in the region and the

, total investment, and a robust export growth. As of May 31, 2018, the Company’s total cards reached 8.24 million cards (including 2.52 million credit cards and 5.72 million member cards), net increasing

sector the Thai economy continues to outperform with Q2 growth at 4.6% slightly below Q1 but remaining strong. Private consumption growth was robust in July and August, supported by higher consumer

equities increased by 6.2% from the end of 2018 to Baht 29,462 million as of September 30, 2019, primarily due to an increase in retained earnings during the period. • As a result of the foregoing, net

of 2018 to Baht 60,387 million as of December 31, 2019, primarily due to the short-term borrowing for project acquisition. • Total equities increased by 39.4% from the end of 2018 to Baht 38,677

and construction. • Total equities increased 2.9% from Baht 27,739 million as of December 31, 2018 to Baht 28,536 million as of March 31, 2019, primarily due to an increase in retained earnings during

borrowing for project acquisition. • Total equities increased by 3.0% from the end of 2018 to Baht 28,583 million as of June 30, 2019, primarily due to an increase in retained earnings during the period. • As

Shareholders’ Equities Enclosure 3 4 Unit: Baht Thousand As of As of As of As of December 31, 2015 December 31, 2016 December 31, 2017 June 30, 2018 Current liabilities 617,239 632,208 492,517 449,993 Noncurrent