, except for any buyback of shares representing no more than ten (10) percent of its paid-up capital, which shall be within the scope of power of the Board of Directors to approve such buyback of shares

to approve the acquisition of 80,000 ordinary shares of Universal Worldwide Transportation Limited (“UWT”), with a par value of 10 Hong Kong Dollar, which equal to 80% of total ordinary shares of UWT

% when compared with Q3 / 2018, mainly due to the increase in exports in the 3rd quarter of this year which measured by the number of exported containers was increased, resulting to transportation costs

Remark Sales and Services Income 582.93 361.15 221.78 61.41% - LPG Trading 186.44 190.36 (3.92) (2.06%) 1 - Transportation 4.00 2.44 1.56 63.93% 2 - Conversion Kit Installation 0.68 1.56 (0.88) (56.41%) 3

) Percentage Remark Sales and Services Income 551.41 407.35 144.06 35.37% - LPG Trading 187.25 193.80 (6.55) (3.38%) 1 - Transportation 3.58 2.65 0.93 35.09% 2 - Conversion Kit Installation 1.21 1.59 (0.38

17 Paper and Printing Materials 18 Fashion 19 Transportation and Logistics 5,400.00 3 https://dividend.sec.or.th/stat-report/OFFER_DEBENT_EN.xlsx OFFER_DEBT_SHORT_EN.xlsx Materials and Machinery 15

Property Development 16,153.90 10 17 Paper and Printing Materials 18 Fashion 19 Transportation and Logistics 5,400.00 3 https://dividend.sec.or.th/stat-report/OFFER_DEBENT_EN.xlsx OFFER_DEBT_SHORT_EN.xlsx

2.8% Revenue from finance lease under power purchase agreement 95.3 102.4 104.5 2.1% 9.7% 197.6 206.9 4.7% Cost of sales and services (1,174.0) (1,274.4) (1,191.7) (6.5%) 1.5% (2,323.4) (2,466.2) 6.1

logistic and transportation sectors and subsidized B10 and B20 to be lower than B7, as well as assigned the Electricity Generating Authority of Thailand (EGAT) to purchase CPO to burn as fuel to generate

strong with low debt-to-equity ratio and high current ratio. P a g e | 3 - Management Discussion and Analysis 1Q2020 - 4,346 1,714 2,942 881 1,102 900 83% 17% 61% 39% 77% 23% 1Q2020 1Q2019 4Q2019 2,816