Efficiency Ratio Return on Assets (%) 0.4 1.4 Return on Fixed Assets (%) 11.0 15.5 Asset Turnover (Time) 0.5 0.5 Leverage Ratio Debt to Equity (Time) 1.0 1.0 Interest Coverage Ratio (Time) 1.3 1.2 26 ASIA’S

(%) 3.3 4.8 Return on Fixed Assets (%) 22.0 29.2 Asset Turnover (Time) 0.5 0.5 Leverage Ratio Debt to Equity (Time) 1.0 0.9 Interest Coverage Ratio (Time) 3.0 3.6 26 ASIA’S BOUTIQUE AIRLINE Glossary

Assets (%) 3.3 4.8 Return on Fixed Assets (%) 22.0 29.2 Asset Turnover (Time) 0.5 0.5 Leverage Ratio Debt to Equity (Time) 1.0 0.9 Interest Coverage Ratio (Time) 3.0 3.6 26 ASIA’S BOUTIQUE AIRLINE Glossary

the Funding Structure In 2018, the Company had total debt to equity ratio of 16.1 times, as compared to 13.3 times in 2017. The interest- bearing debt to equity ratio was 10.8 times as compared to 8.9

equity. Appropriateness of the Funding Structure In 2018, the Company had total debt to equity ratio of 16.1 times, as compared to 13.3 times in 2017. The interest- bearing debt to equity ratio was 10.8

’ equity. Appropriateness of the Funding Structure In Q3 2018, the Company had total debt to equity ratio of 14.1 times, increasing as compared to 2017 of 13.3 times. The interest-bearing debt to equity

worth 142.11 million THB have been repurchased. As a result of the above reasons, the interest bearing debt to equity ratio and the debt to equity ratio have increased from 0.41 : 1 to 0.68 : 1 and from

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

% Core EPS after PERP Interest (THB) 0.85 0.67 1.31 (35)% 3.67 3.86 (5)% Core EBITDA/ton ($) 115 102 153 (25)% 119 132 (10)% Operating Cash Flow5 385 261 222 73% 1,172 855 37% Net Debt to Equity (times

and the common equity Tier 1 ratio of 20.06 percent and the total capital ratio of 23.46 percent which as the solid capital. In addition, the investment partner with CTBC Bank to accommodate the growth