P a g e 1 | 7 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

Other assets 49.85 51.96 (2.11) (4.06) Total assets 1,585.99 1,590.98 (4.99) (0.31) Accounts payable 59.56 59.89 (0.33) (0.55) Other liabilities 59.54 66.02 (6.48) (9.82) Total liabilities 119.10 125.91

) position MB % MB % MB % Current assets 1,003 31.5% 1,254 31.5% 241 25.0% Non-current assets 2,182 68.5% 2,726 68.5% 544 24.9% Total assets 3,185 100.0% 3,979 100.0% 795 25.0% Current liabilities 1,695 53.2

million. Statements of Financial Position as at December 31, 2017 2017 2016 Change (Million Baht) (Million Baht) (%) Current Assets 1,230.25 1,360.25 (9.56) Non-Current Assets 1,822.28 1,665.63 9.40 Total

company -243.50 -59.81 -183.69 -307.12 Financial Position as at December 31 (Unit : Million Baht) 2018 2017 Inc./(Dec.) % Current Assets 423.04 305.00 118.04 38.70 Non-Current Assets 920.89 259.75 661.14

income (3) increased efficiency in support functions which resulted in limited increase in administrative expenses. Analysis of Financial Position Assets As of 31 December 2017, and 31 December 2018, the

7.5% 12.7% (million) 2019 2018 increase (decrease) 1.2 Report and analysis of financial positions million % Total assets 7,531.89 7,061.88 470.01 6.7 Interest-bearing debts 3,702.57 3,403.17 299.40 8.8

quarter 1 of 2018. The increased mainly came from loss on fixed assets sold in the amount of 0.41 million baht. There were also an increased from other expenses such as promotion expense and securities

in foreign currency exchange rates. This resulted in basic earnings per share of Bt0.23 for the first quarter of 2019. Total Asset Total assets as of March 31, 2019 amounted to Bt17,775 million

Capital Market Supervisory Board No. TorChor. 21/2551 Re: Rules on Connected Transactions, and not considered as acquisition of assets, according to the Notification of the Capital Market Supervisory Board