• Debt to Equity ratio2 stood at 0.80 times as of 30 September 2019, decreased from 0.94 times as at end of 2018 Changes in accounting policy and reclassification in 3Q19, during the 3-month and 9-month

liabilities stood at THB 7,174.9mn • Debt to Equity ratio stood at 1.04 times as of 31 December 2019, decreased from 1.14 times as at end of 2018 Change in accounting policies and reclassification in 2019

. Cost & Expense In 2Q23, the cost of service was at Bt22,334mn, increasing 3.3% YoY due to higher network OPEX costs from utility price (FT rate) and expenses from NT’s partnership. It increased minimally

main factors for the increase were (1) the increased in marketing expenses and (2) increased in spending on delivery services fee such as Food Panda. Administrative Expenses Administration costs

increased marketing expenses for example increased spending on food delivery services fees such as Food Panda. Administrative Expenses Administration costs were THB 328.6 Mn in 2016 to THB 423.5 Mn in 2017

27.7 Finance costs 4.3 5.3 (18.0) 13.8 15.0 (7.7) Total expenses 450.0 478.3 (5.9) 1,335.0 1,381.3 (3.3) Ocean Glass Public Company Limited Page 3/4 Management Discussion and Analysis 3rd Quarter 2019

58.0 42.1 37.8 104.4 74.7 39.8 Finance costs 4.7 5.1 (7.7) 9.5 9.7 (2.1) Total expenses 458.3 504.6 (9.2) 885.0 903.0 (2.0) Ocean Glass Public Company Limited Page 3/4 Management Discussion and Analysis

3.58 (0.38 ) (0.11 ) Total Revenue 113.10 142.72 (29.62 ) (0.21 ) Expenses Cost of sales 76.18 123.51 (47.33 ) (0.38 ) Distribution costs 15.40 11.92 3.48 0.29 Administrative expenses 45.78 38.88 6.90

Volume (k tons) 350 242 HRC Average Selling Price (Bht/Ton) 16,065 17,953 Unit : million Baht 30-Sep-20 31-Dec-19 Total Assets 25,849 26,400 Total Liabilities 10,437 9,219 Total Equity 5,864 7,014 Minority

vulnerability to financial crises, reinforces property rights, reduces transaction costs and the cost of capital, and leads to capital market development. Weak https://www.sec.or.th/cgthailand/TH/Documents