35% EBITDA 83 96 16% 142 177 25% Net Profit (Loss) for the Company 34 43 26% 49 77 57% Gross Profit Margin (%) 63.9% 64.2% 0.3% 62.4% 64.1% 1.7% EBITDA Margin1 (%) 35.5% 31.8% (3.7%) 32.6% 31.1% (1.5

1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 30 June 2017 Bangkok Airways Public Company Limited and Its Subsidiaries 2 ASIA’S BOUTIQUE AIRLINE Bangkok Airways

. The Company entered into short-term contract with specific quantities and delivery term (Made to Order). This helps the Company to efficiently control inventories aging and procurement that prevent risk

Public Company Limited’s (the “Company”) Board of Directors Meeting No. 6/2023 held on 10 August 2023 passed a resolution to certify the financial statements and the performance for the six-month period

Information and Communication Networks Public Company Limited D.K.J. Building, 5th Floor, No. 393, Sukhonthasawat Road, Latphrao, Latphrao, Bangkok 10230, Thailand Tax.ID.: 0107560000184 Website

delivery and acceptance as per its scope prior to the billing conditions. Advance Payment for Goods and Services At the end of 2016 and of Q3/2017, the Company reports its advance payment for goods and

industrial customers, which entered into short-term contract with specific quantities and delivery term (Made to Order). This helps the Company to efficiently control inventories aging and procurement that

Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND Tel: 02-0195000 18 กมุภาพนัธ์ 2562 ท่ี ZEN 2562-001 เร่ือง ค าอธิบายและวเิคราะห์ผลการด าเนินงานของ

Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND Tel: 02-0195000 18 กมุภาพนัธ์ 2562 ท่ี ZEN 2562-005 เร่ือง ค าอธิบายและวเิคราะห์ผลการด าเนินงานของ

Ref: UWC 025/2562 November 13, 2019 Subject: Management Discussion and Analysis 3rd Quarter ended September 30, 2019 To: President The Stock Exchange of Thailand Ua Withya Public Company Limited