1,577 1,542 (2%) 61% 3,014 4,172 38% Gross profit margin (%) 24% 30% 28% (2%) 4% 27% 29% 2% Net profit margin (%) 13% 5% 5% 0% (8%) 15% 6% (9%) Adjusted Net Income margin (%) 13% 7% 7% 0% (6%) 15% 8% (7

operators in the same business and various investors for the estimated cash flow of NPLs management business. Cash collection from NPLs management business reflects interest income from loans purchased, gain

1,081 15% 3% 1,973 2,023 3% Adjusted Net Income 1,053 942 1,441 53% 37% 1,973 2,383 21% Gross profit margin (%) 28% 27% 30% 3% 2% 28% 29% 1% Net profit margin (%) 16% 10% 5% (5%) (11%) 16% 7% (9

cash flow from operation. Page 6 Enclosure 5. Information Memorandum on the Acquisition of Assets of Safari World Public Co., Ltd.; An increasing of investment cost (No. 2) In securing sources of fund

the second rank, and continues to consistently thrive with the cumulative market share of 2018 at 15.8%. Net marketing margin was within proximity of 2017 levels, although was affected by the

% Adjusted Net Income 942 1,529 1,948 27% 107% Gross profit margin (%) 27% 25% 29% 4% 2% Net profit margin (%) 10% 6% 9% 3% (1%) Adjusted Net Income Margin (%) 10% 8% 11% 3% 0% Executive Summary PAGE 2

margin (%) 22% 28% 26% (2%) 4% 26% 28% 2% Net profit margin (%) 8% 5% 6% 1% (2%) 14% 6% (8%) Adjusted Net Income margin (%) 8% 7% 8% 1% 0% 14% 8% (6%) Executive Summary PAGE 2 MANAGEMENT DISCUSSION

1,158 1,102 20.7% (4.8%) NNP - Owner of the parent 1,018 1,356 33.2% 575 682 674 17.2% (1.2%) EBITDA margin (%) 24.7% 28.9% 25.8% 29.2% 28.6% NNP margin (%) 7.6% 10.1% 8.4% 10.3% 9.8% % NNP - Owner of the

or as an alternative to cash flow from operating activities. Since there are various calculation methods, its presentation may not be comparable to similarly titled measures used by other companies. (3

2019 to Baht 11,485 million and 33.4% y-on-y in Q4’2019 to Baht 2,938 million due to portfolio expansion through project COD and the acquisition as mentioned. • EBITDA margin increased to 26.0% in 2019