expected to complete within 6 months or by September 2018. Occupancy metrics will thus exclude Underwood Street over this renovation period. Since 16 March 2018, following the EBT of UE, TST Tower has been

Stock Exchange of Thailand and the Warrant Registrar in due course. The Company hereby certifies that the information set out in this Information Memorandum is accurate and complete, in all respects

of Thailand and the Warrant Registrar in due course. The Company hereby certifies that the information set out in this Information Memorandum is accurate and complete, in all respects. Signed (Mr

Company. The Company shall sign the share purchase agreement and/or other relevant agreements and will complete the transfer of WPS shares within December 21, 2018. However, the transaction is the

million. Total non-current assets decreased by 5% from the year ended 2018. • Total Liabilities As of 31 December 2019, the Company has total liability amounting to THB 2,194 million. Total current

days (days) 100.8 149.1 Efficiency Ratios Leverage Ratios Return on assets4 (%) 12.2% 8.5% Liability to Equity7 (times) 1.6 1.5 Return on fixed assets5 (%) 75.8% 60.1% Debt to equity8 (times) 1.0 0.9

1,989 0.7% 1,829 0.5% Net debt to equity (times) 1.4 0.9 1.3 Trade receivable 16,277 5.6% 16,768 4.7% Net debt to EBITDA (times) 1.0 0.7 1.0 Inventories 4,828 1.7% 2,669 0.8% Net debt & lease liability

contracts including tower lease agreement, site rental, office & shop building rental, and roaming on TOT’s 2100MHz spectrum. Key changes are as follows: a. Lease liability is a present value of the remaining

Public Limited Management Discussion and Analysis Quarter 2 Ending 30 June 2019 • Total Liabilities As of 30 June 2019, the Company has total liability amounting to THB 2,854 million. Total current

of 13.92 percent but current liability was equivalent to the end of year 2017 and the quick ratio of 0.74 times, which increased from the end of year 2017, due to an increase in inventory by 14.42