Company determines to maintain an optimal capital structure by lowering leverage level which will ultimately reduce debt ratio. Unit: THB million 31 December 2018 31 December 2019 Change Cash and cash

. Financial Position (Bt mn/% to total asset) 4Q17 1Q18 Key Financial Ratio 1Q17 4Q17 1Q18 Cash 10,650 3.7% 8,499 3.0% Interest-bearing debt to equity (times) 2.5 2.2 2.1 ST investment 2,643 0.9% 2,407 0.8% Net

1,038.6 1,093.4 (5.0) Non-Current Liabilities 294.0 299.4 (1.8) Total Liabilities 1,332.6 1,392.8 (4.3) Total Shareholders’ Equity 1,842.5 1,873.1 (1.6) Current Ratio (times) 1.20 1.22 Debt to Equity Ratio

Liabilities 432.3 390.2 10.8 Total Liabilities 1,563.5 1,356.4 15.3 Total Shareholders’ Equity 1,979.4 1,872.8 5.7 Current Ratio (times) 1.17 1.39 Debt to Equity Ratio (times) 0.79 0.72 Total Assets As of March

0.4 Return on Fixed Assets (%) 11.4 11.0 Asset Turnover (Time) 0.5 0.5 Leverage Ratio Debt to Equity (Time) 1.1 1.0 Interest Coverage Ratio (Time) 0.6 1.3 23 ASIA’S BOUTIQUE AIRLINE Glossary https

around US$2.2B in Mar21 and operating cash flow of US$201M in 1Q21, IVL is well positioned. During the quarter, net debt reduced by US$148M with improved performance. Our net operating debt to equity has

bearing debt to equity (Times) 0.21 0.23 0.23 Interest bearing debt to EBITDA (Times) 1.02 2.09 2.36 Current Ratio (Times) = Current assets divided by current liabilities EBITDA to sales revenue

ratio is at 186.65%. Earnings per share for the second quarter and the six-month period of 2017 were 0.05 Baht per share and 0.09 Baht per share, respectively. When compared to the second quarter and the

of the above, the interesting bearing debt-to-equity ratio of shareholders and the debt-to-equity ratio of shareholders increased from 0.41:1 to 0.44:1 and from 0.64:1 to 0.70:1 as of 31st December

ratio was 1.83 times which mean the company’s liquidity to payment on short-term liability was still high. While Debt to Equity ratio of the Group and Interest Bearing Debt to Equity ratio was 0.97 times