P a g e 1 | 8 Management Discussion and Analysis For the nine-month period ended September 30, 2017 The analysis of consolidated financial position as at 30 September 2017 The group’s assets

performance (percentage) 5.3 4.9 0.4 -4- Statements of Financial Position and Statement of Cash Flows As of the end of the Quarter 3 of 2017, the total assets of the Company and its subsidiaries are THB 3,620

end of 2017 declining to 5.0% from 5.6% at the end of 2016. On Special Asset Management business, the Bank sold non-performing assets (NPAs) totaling Baht 987 million and had gain of Baht 481 million

distributing various types of lumber productions. In the end of 2016, SBP Timber Group Co., Ltd. has the total income of Baht 308.39 million with the total assets of Baht 450.16 million and the shareholder’s

loans ratio at the end of 2017 declining to 5.0% from 5.6% at the end of 2016. On Special Asset Management business, the Bank sold non-performing assets (NPAs) totaling Baht 987 million and had gain of

) 5.2 4.7 - 0.5 Statements of Financial Position and Statements of Cash Flows At the end of 2018, the Company and its subsidiaries have the total assets in the amount of THB 4,040 million, which increased

expenses for the first quarter of 2019 and the income tax expenses to revenue from main business were not significantly change compared to the same period of the previous year. 4 Financial position Assets

cancellation of assets (liabilities) thus income tax for 2 Power Plant which has not fully operated as amounting of 40.89 Million Baht which cause income tax expenses in this quarter 5 2. Financial Analysis

of 2019 amounted to Baht 28 million, a decrease of Baht 20 million or a decrease of 42% from the same period of last year. This is consistent with the decreased profit. Financial position Assets Unit

and net loss of THB 317.93 million primarily due to: • THB 233.38 million of loss from Power Plant Business (which has been disposed since Q3-2020) • THB 45.43 million of impairment of assets in parent