with higher administrative expenses. 4 (Unit: Baht million) Consolidated balance sheets As at 31st Mar 2019 As at 31st Mar 2018 Amount % Amount % Assets Current Assets Cash and cash equivalents 314.32

lower net result. Golden Lime Public Company Limited 6 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 30 JUNE 2019 Balance Sheet Summary as of 30 June 2019 compared to 31 December 2018: 3.3. Cash

and shareholders’ equity as at June 30, 2019, compared to the balance as at December 31, 2018 are as follows: 2.1 Asset analysis As at June 30, 2019, the Company has total assets at Baht 363.57 million

Company had financial flexibility with strong balance sheet supported by low net interest bearing debt to equity of 0.09 time. Unit: THB mn 31-Mar-18 % to total assets 31-Dec-17 % to total assets Chg Cash

in long-term liabilities due to the 330mTHB term loan used to acquire Saraburi Quicklime impacted total liabilities. Shareholder equity increased in-line with the additional net result. Balance Sheet

was mainly from the higher in gross margin. 4 (Unit: Baht million) Consolidated balance sheets As at 31st Mar 2018 As at 31st Mar 2017 Amount % Amount % Assets Current Assets Cash and cash equivalents

raw materials in the world market. At the same time, the average cost of raw material was adjusted lower slower than the lower selling price in market. 4 (Unit: Baht million) Consolidated balance sheets

. Shareholder equity increased in-line with the additional net result. Balance Sheet Summary as of 30 June 2018 compared to 31 December 2017: 3.3. Cash Flow Analysis Cash and cash equivalents in 2Q 2018 increased

The Consolidated Balance Sheet as of 30 September 2018 is summarized as follows. Assets As at 30 September 2018, the Company’s total Assets was Baht 23,137.0 million, increased by Baht 1,758.8 million

increased in-line with the additional net result. Balance Sheet Summary as of 30 September 2018 compared to 31 December 2017: Unit: Million Thai Baht (THB) 30th Sep 2018 31st Dec 2017 YoY change YoY % change