months, unless the underlying asset is low. Assets Items that has significant changes Balance by Quarter Change Q1–20 Q4–19 Q1–20 VS Q4–19 (MB) (MB) (MB) Short-term loan from finance institution 950.0

of insurance. Assets Items that has significant changes Balance by Quarter Change Q2–20 Q4–19 Q2–20 VS Q4–19 (MB) (MB) (MB) Short-term loan from finance institution 1,050.0 400.0 650.0 162.5 Trust

yields rose above 3.0 percent for the first time in four years, in line with brighter US leading indicators. As a result, Thai bonds – especially short-term ones – recorded net sales, thus leading to

Energy Regulatory Commission (ERC) with respect to the acquisition of the shares of GLOW. Regarding source of fund for this acquisition, GPSC will secure a short-term loan (tenor not more than 12 months

%2 (forward, future, swap) &)*>?'/ (options) 62 '&' 9%2 ++,9 6 / +,+9%26 :+9@2 spot rate &)* %&)2=+2 1. %&' / short %

% Core EBITDA/ton ($) 102 113 140 (27%) 128 120 7% Operating Cash Flow5 261 250 241 8% 1,010 872 16% Net Debt to Equity (times) 0.92 0.87 0.61 51% 0.92 0.61 51% 1Consolidated financials are based upon

)% 4.12 3.26 26% Core EBITDA/ton ($) 102 113 140 (27%) 128 120 7% Operating Cash Flow5 261 250 241 8% 1,010 872 16% Net Debt to Equity (times) 0.92 0.87 0.61 51% 0.92 0.61 51% 1Consolidated financials are

107 42% 132 97 36% Operating Cash Flow 240 249 258 (7)% 923 966 (4)% Net Operating Debt to Equity (times) 0.45 0.39 0.84 (46)% 0.45 0.84 (46)% 1Consolidated financials are based upon elimination of

102.0 Right-of-use assets (net) 37.4 - 37.4 N.A. (>100) Deferred tax assets (net) 85.9 56.1 29.8 53.1 Other assets 125.3 71.4 53.9 75.5 Total assets 16,429.7 14,145.1 2,284.6 16.2 Short-term loans from

126.52 million respectively, which accounted for 22.3% ,16.9% and 18.7% respectively. Main current assets include cash and cash equivalents, short term investment, trade and other current receivables