to 28% 2016 2017 % change million Baht million Baht y-on-y Sales and service income 27,747 31,482 13.5% EBITDA 7,494 8,725 16.4% Net profit 2,316 3,594 55.2% Normalized net profit (NNP)* 2,090 2,918

) -11.8 Total expenses 3,231 3,063 168 5.5 Profit before income tax expenses 4,311 1,099 3,212 292.3 Income tax expenses 1,257 229 1,028 448.9 Profit before share of profit from associates and NCI 3,054 870

% (26.89) (16.48%) Other Income 0.93 0.06% 1.55 0.08% (0.62) (39.95%) SG&A (26.79) (1.84%) (28.99) (1.57%) (2.20) (7.58%) Financial cost & Tax Expense 0.25 0.02% (3.46) (0.19%) (3.70) (107.12%) Net Profit

(11%) 8% EPS (Bt) 0.51 0.62 0.55 (11%) 8% Gross Profit Margin (excl. other income) 49% 52% 50% (2%) 1% Operating Profit Margin (exc. non-recurring item) 38% 42% 37% (4%) (1%) Consolidated Earnings (THB

income tax (income) expenses (380) Profit (loss) for the period before adjusting to new standard (39,024) 4 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND

% Income tax 1,833 1,469 1,278 -30% -13% 4,906 4,144 -16% Non-controlling interest -1 1 -2 151% -466% -2 -2 7.4% Net profit for the period 8,800 7,235 6,764 -23% -6.5% 24,125 21,004 -13% Network OPEX & TOT

99.97%   14,388.23 99.95% 82.41 0.58% Cost of sales and services   12,914.68 90.25%   13,159.06 91.41% 244.37 1.89% Gross Profit      1,391.14 9.72%      1,229.18 8.54% (161.97) (11.64%) Other income

Operation Date EBITDA Earnings before Interest, Tax, Depreciation and Amortization FX Foreign Exchange Rate IPP Independent Power Producer PPA Power Purchase Agreement SPP Small Power Producer Projects

) 26% 15% (16,745) (19,205) 15% Operating profit 9,202 11,594 9,248 0.5% -20% 40,105 41,009 2.2% Net foreign exchange gain (loss) 129 (44) 16 -88% -136% 119 308 160% Other income (expense) 118 127 234 99

%) Profit (loss) before income tax expense (803,137) 495,128 162% Income tax expense - - - Profit (loss) for the years (803,137) 495,128 162% Other comprehensive income (loss) for the years - - - - Total