as follows: Pace Project One Co., Ltd. (PP1) 1st Independent financial advisory Method Business valuation Common Share Value Equity value (Low Case) 5,058 million Baht (910)* million Baht * The Company

เช่น ธพ. 5 แห่งใหญ่ในธุรกิจ LBDU หน่วยลงทุนมี market share ในสดัส่วนทีสูงมาก หาก ธพ. 5 แห่งประสงคจ์ดัตงัองคก์ร SRO กจ็ะตอ้ง รวบรวม ธพ. ทีเหลือใหไ้ดเ้กินกวา่ร้อยละ 50 ซึงอาจเป็นการสร้างภาระมากเกินไป

1.88 -33.9% Share of profit from investment in associate 1.95 2.14 -0.19 -8.9% Income tax expenses -23.50 -49.39 25.89 -52.4% Net profit 134.30 200.70 -66.40 -33.1% Minority interest in subsidiary -47.35

income payer shall be responsible for deducting a 15-percent withholding tax from taxable income which shall include (1) a share of profit or any other benefits of the same characteristics derived from the

0.94% 576.65 8.97% (503.65) -87.34% Finance cost and tax income 1.61 0.02% (4.54) -0.07% 6.15 135.46% Net profit (22.13) -0.29% 423.62 6.59% (445.75) -105.22% Basic earnings per share (Baht per share

combination (BGYSP) amount of Baht 276 million in Q3’2018 which would be amortised by Baht 12 million per annum along the PPA life. Share of Profit (Loss) of Associates and Joint Ventures • Share of profit from

the PPA life and increased 88.9% y-on-y in Q4’2019 to Baht 136 million due to increase of interest income. Share of Profit (Loss) of Associates and Joint Ventures • Share of profit from associates

and its Subsidiaries Million Baht Item Quarter Change (%) 9 Months Change 3/2017 2/2017 3/2016 2/2017 3/2016 2017 2016 (%) Net profit * 8.161 8,047 8,061 1.4% 1.2% 24,513 23,547 4.1% Earnings per share

. Top 10 Major Shareholders(@24 Mar 2022) Share % 1. บริษัท BTS GROUP HOLDINGS PLC. 2,033,425,452 36.22 2. บริษัท Thai NVDR Company Limited 404,917,544 7.21 3. SOUTH EAST ASIA UK (TYPE C) NOMINEES LIMITED

million in Q1’2018 to Baht 48 million in Q1’2019) and decreased 33.3% q-on-q (Baht 72 million in Q4’2018 to Baht 48 million in Q1’2019), primarily attributable to an interest income. Share of Profit (Loss