. Appropriateness of the Funding Structure In Q1 2018, the Company had total debt to equity ratio of 13.2 times slightly decreased as compared to 13.3 times in 2017. The interest-bearing debt to equity ratio was 8.2

SERITHAI 62, MINBURI, BANGKOK 10510 บมจ. 346 Tel. 66-2-517-0109-14 Fax 66-2-5170529 Growth Rate Total Asset (%) 0.44 (3.50) (3.85) Total Debt (%) (1.94) (6.90) (2.82) Revenue from Sales or Services (%) (9.28

. Transaction size calculation Company’s financial statement dated December 31, 2019 (Unit : Million Baht) Total Asset 337.74 Intangible Asset 13.59 Total Debt 109.51 Minority shareholders 10.79 NTA 203.85 Net

FY2018 Current ratio (x) 3.6 4.4 EBITDA to sales revenue (%) 3.8 5.7 Net profit to sales revenue (%) 0.7 (7.2) Return on total assets (%) 2.3 (10.5) Return on equity (%) 1.0 (11.2) Debt to equity (x) 0.3

58,576 Add Excess allowance for doubtful accounts 113,094 93,476 Total allowance for doubtful accounts from loan classification 167,766 152,052 Add Revaluation allowance for debt restructuring 6,510 6,042

, buildings and distribution center of PTT Group companies. Financial position: As of 31 December 2018, the company and its subsidiaries' total assets increased by Baht 4,471 million or 7% from 31 December 2017

, buildings and distribution center of PTT Group companies. Financial position: As of 31 December 2018, the company and its subsidiaries' total assets increased by Baht 4,464 million or 7% from 31 December 2017

of total current assets and THB 2,429. 0 million of total non- current asset. The total liabilities was THB 16,046. 9 million, which consists of interest bearing debt in amount of THB 12,900.3 million

-bearing debt THB 81,359 million, and total shareholders' equity totaled THB 63,635 million. Total liabilities to equity ratio of 3.2 times, and net interest-bearing debt to equity ratio was at 0.8 times

’ operating results for the year ended December 31st 2017 EBITDA Structure of the Company and its subsidiaries Q4/2016 Q3/2017 Q4/2017 YoY QoQ FY2016 FY2017 YoY Total Revenue 40,481 39,009 46,306 14% 19