in trade policies of US and China and global economic, the conflict in the Middle Eastern that impacted global oil price as well as the Baht’s ongoing appreciation. As of November 30, 2019, the

. - On March 20, 2018, Gen Plus B.V., a wholly owned subsidiary of EGCO, divested all 49% indirect shares in MASINLOC POWER PARTNERS CO. LTD. (MPPCL) to SMC Global Power Holdings Corp. EGCO Group

1,171 -296 -25.3% Education business 108 118 -10 -8.5% Food business 116 90 26 28.9% Others 163 46 117 254.3% Total revenue 1,262 1,425 -163 -11.4% EBITDA 241 222 19 8.6% EBIT 39 107 -68 -63.6% Net profit

was exporting new time high because the global price is higher than domestic. In addition, the price of raw materials abroad is higher than in local. However, the Company aware of the price fluctuation

total revenue amount THB 75.7 MB, equivalent to 8.7% of total revenue and can be summarized as the following: The Company’s revenue from sales amounted to THB 760.2 MB and THB 841.1 MB in the year 2019

the operating result for the first quarter of 2020 In first quarter of 2020, the situation of global epidemic of Coronavirus disease 2019 (COVID-19) as well as the spread in Thailand, the government

Baht The Company earned THB 226.5 MB and THB 224.6 MB in Q1/2020 and 2019 respectively, an increase in total revenue amount THB 1.8 MB, equivalent to 0.8% of total revenue and can be summarized as the

million YoY (-6.04%). The Company is considered performing better than market as its revenue declined by 6.04%, while the global IT market declined by 14%, as reported by Gartner re: worldwide PC shipments

31th December 2019 Unit: THB Million Q4/2019 Q3/2019 QoQ Q4/2018 YoY 2019 2018 YoY Total Revenue 50,146 46,481 8% 48,781 3% 190,489 192,025 -1% Accounting EBITDA 2,420 2,141 13% (317) 862% 8,709 10,201

Lane, Amphur Bangpa-in, Ayuthaya Province 13160, Thailand Tel (035) 350 880 Fax (035) 350 881 Website: www.aapico.com Management Discussion and Analysis for the year 2021 2 Total revenue increased by