a net profit 118.3 million Baht, or an increase 163.2%, compared to the same period last year and an increase 186.4% compared to the previous quarter, which was consistent with the direction of the

Statement year ended December 31, 2019 Both of return on assets and return on equity of 4Q19 improved yoy. driven by the sustainable profit and higher dividend payout ratio. From the financial risk

(reversal of allowance) for impairment of assets 0.8 0.1% 5.6 0.8% 4.8 600.0%   JAS Asset Management Discussion and Analysis for FS2017 Page2/4 2016 2017 Change MB % MB % MB % Profit before Expenses 106.0

. Gross Profit 98.2 17.5% 152.4 20.4% 54.2 55.2% Gain from fair value adjustment on investment property -9.1 -1.6% 6.4 0.9% 15.5 -170.6% Allowance (reversal of allowance) for impairment of assets 0.8 0.1

, Return on Assets and Return on Equity improved from 10% and 12% in 1Q’17 to 12% and 14% yoy. They were driven by the outstanding profit of both the Company and subsidiary. In respect of liquidity ratio in

year due to the profit realized from the biomass power plant project 7.5MW of Prize of Wood Green Energy Co.,Ltd., invested by Safe Energy Holdings Co.,Ltd., started the commercial operation date on

declined yoy whereas revenue per head remained on the rise. The increase of revenue per head was Operation : Consolidated Profit & Loss Statement 3Q 3Q % 9 mth 9 mth % Unit : THB million 2019 2018 change

Assets 76.27 0.01 Deduct Deferred Tax 102.70 - Deduct Total Liabilities \ 3,979.15 42.12 Deduct Minority Interest 121.48 - NTA 375.24 187.78 Net Profit / (Net Loss) 9 month period (Jan – Sep) 2017

) (%) 23.03% 18.58% 4.45% Return on Assets (ROA) (%) 13.95% 11.48% 2.47% Remark: * Calculated based on the number of issued and paid-up ordinary shares deducted by the number of treasury share GP = Gross Profit

affected by the spread of COVID-19 as follows: Revenue Unit: Million Baht Q1/19 Q4/19 Q1/20 Consolidated Statement Revenue 194.29 222.62 167.85 Profit(loss) from exchange rate 0.54 0.35 0.20 Other Revenue