: Base on 100% in GLOW Q2/2019 Outlook and Business Directions Executive Summary Note: The diagram shows the power generation capacity growth after merging with GLOW • After the acquisition of GLOW, the

% 15.29 8.80 74% Financing cost 0.58 7.18 -92% 2.98 24.16 -88% Tax (Note) 18.57 2.34 693% 10.64 20.89 -49% Net profit 74.43 51.65 44% 197.63 117.12 69% % Net profit 19% 16% 3% 19% 13% 6% Non-controlling

depreciation 92.44 66.21 40% 362.47 284.21 28% % Earnings before interest, taxes and depreciation 25% 21% 4% 25% 23% 2% Other income /(expenses) 5.88 5.74 3% 21.17 14.54 46% Financing cost 0.03 2.15 -99% 3.01

business. Similarly, private investment sector was slowdown regarding to the concern about uncertain government spending except in the electronics group that moved production base from abroad and the

Baht appreciation, affected to production competitiveness that manufacturers made decision to shift production base or import materials from foreign. Similarly, private investment sector and employment

income. Public spending also increased from spending on goods and services and compensation expenses while capital spending declined from the high base effect of last year from the disbursement of

short courses to increase student base and to reduce impact of high competition from lower population under educational age. In 1Q19, EBITDA from education business was THB 23 million, a decrease of 14.8

Asoke-Ratchada 2,396 The BASE Garden Rama 9 1,609 The LINE Wongsawang 1,276 Total 9,473 Within 1Q 2018, on 16 March 2018, the Company acquired a 50% stake in all BTS-Sansiri JV projects from BTS as part

BACKLOG (THB mn) The LINE Ratchathewi 2,878 The LINE Asoke-Ratchada 115 The BASE Garden Rama 9 1,363 The LINE Wongsawang 1,131 Total 5,488 As of 9 July 2018, the company has a non-equity stake-adjusted

recorded total sales volume increased 5% YoY, mainly from the retail market increasing by 7% YoY, stemming from the company’s strategy to focus on expanding its customer base, and to actively push the sales