and servicing expenses, administrative expenses and depreciation, largely as a result of the (i) the full quarter consolidation of the acquired hotel business in Europe and (ii) consolidation of

) Net Debt = Interest bearing liabilities – cash and cash equivalents 2) Leverage Q2 and FY use annualized EBITDA 3) ROFA = (Net profit + Depreciation)/ Average (Q2 2018 and Q4 2017) of property, plant

FY use annualized EBITDA 3) ROFA = (Net profit + Depreciation)/ Average (Q2 2018 and Q4 2017) of property, plant and equipment Mr. Geza Perlaki Mr. Krishnan Subramanian Aylur Authorized Director

maintenance cost and depreciation expense from the expansion pipeline system. However, Gross Profit Margins of excluding Other Utilities Revenue was 34.3% in 9M2019 flat with 34.4% in 9M2018 For our 3Q2019

cash equivalents 2) Leverage Q3 and FY use annualized EBITDA for the previous 4 quarters 3) ROFA = (Net profit + Depreciation)/ Average (current quarter and end of last year) of property, plant and

EBIT margin (%) = (Profit before income tax expense + Finance Cost) / Total revenues from sales EBITDA margin (%) = (Profit before income tax expense + Finance Cost + Depreciation and Amortization

Adjusted EBITDA is calculated from EBT plus Finance cost, Depreciation and Amortization, Interest income from Loan to JVs and deduct Interest income, unrealized loss from exchange rates and non-recurring

revenues from sales EBIT margin (%) = (Profit before income tax expense + Finance Cost) / Total revenues from sales EBITDA margin (%) = (Profit before income tax expense + Finance Cost + Depreciation and

ทางการเงินที่สำคัญ Note: 1) Net Debt = Interest bearing liabilities – cash and cash equivalents 2) Leverage Q2 and FY use annualized EBITDA 3) ROFA = (Net profit + Depreciation)/ Average (Q2 2020 and Q4

16 for THB 519.09 million and decrease in depreciation of the 6-months period for THB 66.58 million net from the increase in property, plant, and equipment of THB 141.91 million. Increase in right-of