and personal loan lead generator. 3. Income from insurance business in Q3/2018 wat 35.1 million baht which is the revenues from non-life insurance that the Company acquired a majority stake since Q2

Method Calculation Formula Transaction Size (%) 1.the value of net tangible assets (NTA) NTA of investment in the Company x The acquired proportion x 100 NTA of the Company (0.51x1.95x100)/2,971.37 = 0.033

. However, cash flow can still be collected as the Company continuously acquired more distress debt. In the quarter 3-4 of the year 2019. In the past, the Company had bought non-performing loans from

non- performing debt portfolio that fully eliminates the investment value. The acquired debt collection revenue is 7 9 % of the company's total income. 3. The acquired debt collection revenue is 79% of

of Jan - Dec 2019 = 2,706.44 million Baht Revenue of Jan - Dec 2019 = 4,680.08 million Baht EASTERN WATER RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS

6 December 2007 1 | P a g e Pace Development Corporation Public Company Limited 87/2 CRC Tower All Seasons Place, 45th Floor, Unit 3, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel. 66 2 654

-month period of 2015 as a result of the profit derived from the disposal of land held for development in the amount of Baht 69.82 million and the profit derived from the disposal of investment property in

= 619.77 million Baht Revenue of Q1/2019 = 1,164.83 million Baht EASTERN WATER RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1/2019 Proportion of

(67.55) (10.61%) 1,283.52 1,146.76 (136.76) (10.65%) EASTERN WATER RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q2/2018 EASTERN WATER RESOURCES

(119.28) (6.39%) EASTERN WATER RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q3/2018 EASTERN WATER RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY