margin loans 1.7 Share of profit of subsidiaries and associates 1.8 Others incomes Total Income 2. Expenses 2.1 Expenses on Borrowing 2.2 Fee and Service Expenses 2.3 Bad debt and doubtful accounts 2.4

1,577 1,542 (2%) 61% 3,014 4,172 38% Gross profit margin (%) 24% 30% 28% (2%) 4% 27% 29% 2% Net profit margin (%) 13% 5% 5% 0% (8%) 15% 6% (9%) Adjusted Net Income margin (%) 13% 7% 7% 0% (6%) 15% 8% (7

million of Normalized Share of Profit and Dividend, a 7.6% increase from 3Q2018 due to energy margin increase from GHECO-One SPP  For 3Q2019, 8 SPPs generated Baht 151.2 million of Normalized Share of

% 8.57 8.11 5.6% Net interest margin 2.31% 2.35% 2.27% (0.04)% 0.04% 2.33% 2.33% - Net fees and service income to operating income ratio 22.7% 24.7% 24.1% (2.0)% (1.4)% 23.7% 23.4% 0.3% Expense to

1,081 15% 3% 1,973 2,023 3% Adjusted Net Income 1,053 942 1,441 53% 37% 1,973 2,383 21% Gross profit margin (%) 28% 27% 30% 3% 2% 28% 29% 1% Net profit margin (%) 16% 10% 5% (5%) (11%) 16% 7% (9

% Adjusted Net Income 942 1,529 1,948 27% 107% Gross profit margin (%) 27% 25% 29% 4% 2% Net profit margin (%) 10% 6% 9% 3% (1%) Adjusted Net Income Margin (%) 10% 8% 11% 3% 0% Executive Summary PAGE 2

) “ margin account ” means an account which keeps records of lending of money to a client for purchasing securities or lending of securities to a client for short selling; (3) “ cash account ” means an account

) “margin account” means an account which keeps records of lending of money to a client for purchasing securities or lending of securities to a client for short selling; (3) “cash account” means an account

) “margin account” means an account which keeps records of lending of money to a client for purchasing securities or lending of securities to a client for short selling; (3) “cash account” means an account

revenue despite lower EBITDA margin.  EBITDA margin was lower to 27.0% in 6M’2018 because EGAT tariff increase with less proportion than an increase in gas cost resulting from lower capacity payment due to