liabilities 689.4 28.6% 613.5 25.0% -75.9 -11.0% Total Liabilities 1,464.6 60.8% 1,514.3 61.6% 49.7 3.4% Total Shareholders’ Equity 944.9 39.2% 943.0 38.4% -1.9 -0.2% Assets As for the period ending 31 March

Bearing Debt to Equity Ratio is 1.08 times. Thus, you have been informed for your acknowledgement Sincerely Yours, - Singed - (Mr.Wongsakorn Kittitrakulkan) Company Secretary Investor Relations Department

51.7 million as the joint venture that the Company holds 33.37 percent of total shares for biomass power plant business. 2. Total Liabilities and Shareholder’s Equity Statement of Financial Position

Bearing Debt to Equity Ratio is 1.03 times. Management Discussion and Analysis, Q2/2018 Page4/4 Thus, you have been informed for your acknowledgement Sincerely Yours, - Singed - (Mr.Wongsakorn

of associates-net of income tax and changes in accounting policy of associates which resulted in a decrease in the shareholders’ equity by Baht 109 million. Please be informed accordingly. Sincerely

/2019 Q1/2020 Change MB % MB % MB % Financial Cost 14.7 9.4% 15.6 9.4% 0.9 6.2% Income Tax 1.6 1.1% -1.5 -0.9% 3.2 -192.3% Net Profit Attributed to Equity holders of the Company 0.5 0.3% 16.6 10.1% 16.1

Liabilities 84.20 376.72 (292.52) -347.42% 1,482.63 1,825.67 (343.03) -23.14% SHAREHOLDERS' EQUITY Issued and paid-up share capital 1,316.25 1,316.25 - 0.00% Premium on ordinary shares 264.33 264.33 - 0.00

and intense competition. Transaction For the Year ended 31st December Unit 2019 2018 Gross Profit Ratio % 10.90 14.58 Earnings Ratio % 0.19 3.15 Debt to Equity Ratio Time 0.30 0.27 Return on Equity

Earning Ratio % 4.88 8.72 Debt to Equity Ratio Time 0.29 0.28 Return on Equity % 7.80 13.73 Gross Profit Ratio In 2017, the Company’s gross profit was 93.04 million baht, gross profit ratio was 15.60 % of

365.6 Mn respectively, an increase of THB 96.5 Mn. This increase in shareholders’ equity was attributed to the company net profit during the period of THB 81.8 Mn. Please be informed accordingly, Yours