: Management explanation and analysis for the yearly ending 31 December 2019 Attention: The President of, The Stock Exchange of Thailand ZIGA Innovation Public Company Limited ( “the Company” ) would like to

of 90.99 Million Baht, expenditure of the debt resulted from prosecution of 29.04 Million Baht, general capital impairment loss of 2.86 Million Baht, joint venture capital impairment loss of 0.08

Microsoft Word - RJH_MDA_2Q_2018_EN_Final.docx Page 1 of 4 No. RJH – SET 8/2018 9 August 2018 Subject : Management Discussion and Analysis for the 2nd quarter of 2018 ending June 30, 2018 To : The

Page 1 of 4 No. RJH – SET 10/2018 12 November 2018 Subject : Management Discussion and Analysis for the 3rd quarter of 2018 ending September 30, 2018 To : The President The Stock Exchange of Thailand

Cycle (Days) 40 40 Total Debt to Equity Ratio (Times) 0.80 0.47 Interest Coverage Ratio (Times) 189.00 126.53 Debt Service Coverage Ratio (Times) 92.06 75.36 (3) Asset Management Capability (3.1) Debtor

insurance on the needs of customers. 4.3 Mutual Fund Selling Agent Service is a selling agent of the unit trusts for many asset management companies, which offer mutual funds of various types from debt

company has high cash and current investments from IPO proceeds. As a result, debt to equity ratio drop to 0.28 times. Osotspa Public Company Limited Q4’18 and FY18 Management Discussion & Analysis 27

spectrum licenses as well as lower interest- bearing debt QoQ. Average cost of borrowing stood at 3.0% per year. Profit In 1Q19, EBITDA was stable YoY at Bt18,906mn due to higher network OPEX and SG&A

from higher staff cost, shop expansion & renovation, and the one- time expense of Bt134mn regarding withholding tax in 3Q18. In 2018, %bad debt to postpaid revenue declined to 3.8% , compared to 4.3% in

Management Discussion and Analysis for the Year 2018 Business Overview Business overview of One to One Contacts Public Company Limited and its subsidiaries (“the Group”) for the year 2018 compared to