) Transaction Size% VS NTA financial statements for the period 1. VNG and subsidiaries trade among related companies. 25 Feb. 2020 43,000,000.00 0.701% as at 31 Dec. 2019 2. Vanachai Panel Industries Co., Ltd

Release Date Value (Baht) Transaction Size% VS NTA financial statements for the period 1. VNG and subsidiaries trade among related companies. 25 Feb. 2020 43,000,000.00 0.701% as at 31 Dec. 2019 2. Vanachai

% VS NTA financial statements for the period 1. VNG and subsidiaries trade among related companies. 25 Feb. 2020 43,000,000.00 0.701% as at 31 Dec.2019 2. Vanachai Panel Industries Co., Ltd. uses the

assets of 153.38 million baht, most of which were trade receivables amount of 105.64 million baht due to lower sales from the COVID-19 situation. Next, the inventories decreased by 81.46 million baht due

accounting standard (TFRS 15) reflecting Gheco-One. 2. Decrease in investments in joint ventures of THB 272.3 mm, due to capital deduction in joint ventures proportionately. 3. Increase in short-term loan to

impact of the global trade war. Resulting in the Company had to accelerate the management of the inventory levels to be suitable for sales volume. If comparing the inventory from the beginning to the end

of Baht 128.9 million in Q2 2022, caused by depreciation of Thai Baht. This gain on foreign currency exchange was mainly associated with the USD loan related to the SGAH transaction and was non-cash in

% Defer tax asset 3,703 0.8 % 3,649 0.8 % Others 25,970 5.7 % 26,224 5.8 % Total Assets 454,439 100 % 455,211 100 % Trade payable 16,031 3.5 % 15,372 3.4 % ST loan & CP of LT loans 57,404 13 % 54,584 12

loan and the impact of the THB appreciation to foreign currency translation of financial statements despite higher interest rates. Earnings before interest, tax, depreciation and amortization (EBITDA

long-term loan from Financial Institutions in 2019. Dusit Thani PLC Management Discussion and Analysis For 4Q19 and FY2019 P a g e | 6 Net Profit In 4Q19, the Company had the net profit including