in debt collection which the collection rate has increased by 97.2% at the end of March 2018. The Company expected that its performance in the first quarter of this year would be the lowest of

Rights and Duty of Debenture Issuer and Debenture Holder, the Company is required to maintain the Net Debt to Equity ratio at the rate of not more than 2.5: 1 at the end of the quarter and year end period

% ' #)#II 0 A 3(#%I#0# 4!4 B a!3 0. #3 '(. (equity leg) K (% E 5 * ".% ' # 0."#1 /' 01 (interest rate leg) J0 4% (.0&(#' )% ' #)"#1 1 .. 54 47 2. '>(&' )')> (Debt and Interest Rate-Linked Instruments

- Cash) / EBITDA Interest Coverage Operating Profit / Interest Expense Debt Service Coverage Ratio EBITDA * (1 - Tax Rate) / (Debt Repayment in 1 Year + Interest expense annualized) ROA Net Profit

(2,358) 366 116% Adjustments for - - Depreciation and amortisation 1,865 1,910 (2%) Unrealised (gain) loss on exchange rate (96) (1,529) (1487%) Gain on exchange rate form debt to equity conversion - (79

) (453%) (Gain) loss on exchange rate on debt to equity Conversion - (79) (100%) (Gain) loss on adjustment in value of securities (1) (1) (38%) Bad and doubtful debts expense (Reversal of) 63 (145) 329

having relatively low trading liquidity. Moreover, the Company needs to use such cash flow to repay the debt, which reaches a maturity, which would help reducing the burden from the Company’s high-rate

relatively low trading liquidity. Moreover, the Company needs to use such cash flow to repay the debt, which reaches a maturity, which would help reducing the burden from the Company’s high-rate interest

digital television in the amount of Baht 1,499.00 million. In this regard, the Company would be able to repay debt in a specified date and reduce the debt burden from high-rate interest expenses from such

(gain) on exchange rate (725) (Gain) loss on exchange rate on debt to equity Conversion (79) (Gain) loss on adjustment in value of securities (1) Reversal of bad and doubtful debts (145) Provision for a