Microsoft Word - MDA Q1.2019 EN_Final Page 1 of 3 GEL.CS.004/2562 14 May 2019 Subject: Management Discussion and Financial Analysis for the operating results of the first quarter of 2019, ended March

from financial institutions and decreased of shareholders’ equity, due to net loss from operating. Liquidity Cash flow The Q1/2019, the company and its subsidiaries have cash flow received from operating

, the company and its subsidiaries have debt to equity ratio is 1.54:1, compared to the 2018 is 1.02:1, increased by 0.52 times, due to increased of long-term loans from financial institutions and

equity ratio is 0.85:1, compared to the 2017 is 0.71:1, increased by 0.14 times, due to increased of long-term loans from financial institutions and decreased of shareholders’ equity, due to net loss from

to equity ratio is 1.69:1, compared to the 2018 is 1.11:1, increased by 0.58 times, due to increased of long-term loans from financial institutions and decreased of shareholders’ equity, due to loss

is 1.97:1, compared to the 2019 is 1.35:1, increased by 0.62 times, due to increased of long-term loans from financial institutions and decreased of shareholders’ equity, due to retained losses from

: Auditor’s Report and Financial Statement for the year period ended December 31, 2018 UAC GLOBAL Public Company Limited ("UAC") would like to report the operating result of UAC according to the financial

statement TOTAL ASSET 1,214.62 1,449.95 (235.3 ) (16.23%) TOTOL LIABILITIES 668.89 644.40 24.5 3.80% TOTAL SHAREHOLDERS' EQUITY 545.74 805.55 (259.8 ) (32.25%) STATEMENT OF FINANCIAL POSITION 2017 2016

financial statement TOTAL ASSET 1,214.62 1,449.95 (235.3 ) (16.23%) TOTOL LIABILITIES 668.89 644.40 24.5 3.80% TOTAL SHAREHOLDERS' EQUITY 545.74 805.55 (259.8 ) (32.25%) STATEMENT OF FINANCIAL POSITION 2017

considered an acquisition of assets in accordance with the Notification on Acquisition or Disposal of Assets. The consideration under Equity Purchase Agreement and loan repayment of loan to financial