/4   Ref: J61/011 12 November 2018 Subject: Management Discussion and Analysis, 3rd Quarter Ending 30 September 2018 To: President The Stock Exchange of Thailand Regarding to JAS Asset Public Company

receivable of 26.81 Million Baht, more other external receivable of 80.52 Million Baht, decline in trade receivable of 23.23 Million Baht (due to other receivable related company “EMC” had payback to

) Public Company Limited (the “Company”) would like to clarify its operation results for Q3/FY2019 (ended 30 June, 2019) of the Company and its subsidiaries, as follows; Performance Report Overview of the

assets Total non-current assets Trade and other receivables AGING OF TRADE RECEIVABLES (THB mn) 31 MARCH 2020 30 SEPTEMBER 2020 VGI PUBLIC COMPANY LIMITED LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES

. 2018 % Trade and other receivables 315.22 19% 120.51 9% Inventories 116.98 7% 119.88 9% Investment in associated company 286.20 17% 330.87 24% Property, plant and equipment 871.72 52% 712.57 51

1,021.1 MB, or 80.7%, the main reason is in the year 2019, the Company has invested in many large-scale projects that were still in operation; as the result, cash and cash equivalents decreased. Trade

(Ending September 30, 2019) To Director and Manager of the Stock Exchange of Thailand Ubis (Asia) Public Company Limited (“the Company”) would like to clarify on the performance and the financial for Q3

business has low gross profit margin, to build up more sales revenue will result in good net profit. Sales revenue The Company had total sales revenue of Baht 969.4 million in Q1/2018, decreased Baht 102.6

. Due to this business has low gross profit margin, to build up more sales revenue will result in good net profit. Sales revenue The Company had total sales revenue of Baht 917.7 million in Q2/2018

. Due to this business has low gross profit margin, to build up more sales revenue will result in good net profit. Sales revenue The Company had total sales revenue of Baht 945.6 million in Q1/2020