venture, financial costs and income tax expenses 5.93 3.54 2.39 67.25 6.12 3.55 2.57 72.53 Share of profit from investment in joint venture 0.90 (1.49) 2.39 160.55 - - - N/A Profit before financial costs

ended up 21.5% and export sales 78.5%. The Company reported gain from foreign exchange hedging at Baht 8.3 million. Other income from sales of scraps, obsolete equipment reported at Baht 2.5 million

of 618 million baht or 2.47 baht per share. The financial performance can be summarized as follows. Overview Overall, the Thai economy in the first quarter expanded by 3.3%, higher than 3.0% growth in

expenses (148.5) (9.3%) (245.0) (9.3%) 65.0% Administrative expenses (311.6) (19.6%) (799.4) (30.3%) 156.6% Other income 452.4 28.4% 147.5 5.6% (67.4%) Share of profit (loss) from investment in an associate

Total Expenses 4,334.0 65.1 4,697.1 69.2 363.1 8.4 Profit before share of loss from investments in joint ventures, finance cost and income tax expenses 2,323.2 34.9 2,092.7 30.8 (230.6) (9.9) Share of

rate, one-time income/expense, in the 3Q16 and 3Q17 performance, EBT in 3Q17 would have declined by 449% YoY, reflecting higher financial costs (interest expenses) from convertible bonds worth US$180mn

recognized upfront 50-year lease payments. Performance Summary Consolidated Statement of Comprehensive Income Revenues 1,421 1,064 2,564 141% 80% 3,233 5,858 81% - Residential 1,017 625 501 (20%) (51%) 1,563

94.77 182.18 91.48 (177.04) (49.28) Other income/1 19.78 5.23 16.95 8.52 (2.83) (14.31) Total revenue 379.00 100.00 199.13 100.00 (179.87) (47.46) Notes: /1 Other income comprises mainly of interest

28.5 Mn. 2 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 Performance Statement of comprehensive income 1st Quarter 2020 2021 Change

business acquisition 2.2 - - - N.A.(