Analysis For 2Q20 and 6M20 P a g e | 8 As of 30 June 2020, the Company had Interest bearing debt to equity attributable to owners of the Company (IBD/E) ratio at 3.20 times and IBD/E ratio excluding TFRS 16

Issued Preferred Shares to Specific Investors To: The President Stock Exchange of Thailand Enclosures: 1. Information Memorandum on the Asset Acquisition and Connected Transactions of U City Public Company

SET LETTER Q2-2017 -1- Ref. POL. 103/2017 August 15, 2017 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P

S&P MD&A Q3-2017 -1- Ref. POL. 136/2017 November 13, 2017 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P

ratio was also close to the target, at 43.96 percent. At the same time, our robust capital position was sufficient to cushion against risk, and greater than the Bank of Thailand’s requirement. As

2017 Current Ratio (Times) 0.76 0.91 Interest-bearing Debt to Equity (Times) 2.09 1.13 LQSF Q4/2561 2560 Current Ratio (Times) 0.63 n.a. Interest-bearing Debt to Equity (Times) 0.80 n.a. Cash Flow (Unit

and its subsidiaries have debt to equity ratio is 1.23:1, compared to the 2017 is 0.78:1, increased by 0.45 times, due to increased of loans from financial institutions and decreased of shareholders

December 2019, the company and its subsidiaries have debt to equity ratio is 1.73:1, compared to the 2018 is 1.23:1, increased by 0.50 times, due to increased of long-term loans from financial institutions

7,796.9 million, increased Baht 626.8 million, due to net profit from operating. As of 30 June 2017, the company and its subsidiaries have debt to equity ratio is 0.77:1, compared to the 2016 is 0.78:1

subsidiaries have debt to equity ratio is 0.77:1, compared to the 2016 is 0.73:1, increased by 0.04 times, due to increased of loans from financial institutions and increased of shareholders’ equity, due to