of the Company’s Performance for the three-month period ended March 31, 2019 Administrative Expenses Baht Million 2018 2019 +/(-) +/(-) % Employee and executive expenses 20.67 29.90 9.23 44.65% Advisor

the financial advisor (FA) to evaluate fair value of IGEN- ENEERGY as of 10 April 2019. FA has decided to use the Discounted Cash Flow Approach (DCF) to determine the value of consideration for the

Seller’s Advisor *** LTM Q1/2019 means the last twelve months period from April 1, 2018 to March 31, 2019 7. Expected Benefits This Transaction would be a strategic fit to enhance IVL’s new growth engines

of export sales that is causing to be in the amount of THB 2.52 million. Administrative Expenses Baht Million 2018 2019 +/(-) +/(-) % Employee and executive expenses 43.38 64.03 20.65 47.60% Advisor

/61 +/(-) +/(-) % Employee and executive expenses 44.16 65.14 20.98 47.51% Advisor expenses 10.01 8.21 (1.81) (18.03%) Tax and penalties 23.44 0.25 (23.19) (98.92%) Allowance for doubtful accounts

in this period. Administrative Expenses Baht Million 2018 2019 +/(-) +/(-) % Employee and executive expenses 65.14 98.81 33.67 51.69% Advisor expenses 8.20 10.31 2.11 25.73% Loss on exchange rate

Performance for the year ended December 31, 2019 Administrative Expenses Baht Million 2018 2019 +/(-) +/(-) % Employee and executive expenses 86.79 131.82 45.03 51.88% Advisor expenses 11.53 14.05 2.52 21.86

holder as a beneficiary of REIT. “financial advisor” means a financial advisor which is on the approved list of the SEC Office. “rent” means a consideration which is received from renting, using area or

property valuer approved by the Office; (b) sensitivity analysis which has been audited by an auditor or a financial advisor approved by the Office, or any other persons approved by the Office. Such analysis

certified by a property valuer approved by the Office; (b) sensitivity analysis which has been audited by an auditor or a financial advisor approved by the Office, or any other persons approved by the Office