Management Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.17 31.12.18 30.06.19 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,119 1,154 1,159 Total Assets 1,242 1,268 1,275 Current

Management Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.16 31.12.17 30.06.18 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,228 1,119 1,172 Total Assets 1,361 1,242 1,290 Current

Management Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.16 31.12.17 30.09.18 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,228 1,119 1,249 Total Assets 1,361 1,242 1,366 Current

Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.17 31.12.18 31.12.19 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,119 1,154 1,054 Total Assets 1,242 1,268 1,185 Current Liabilities 784 808

Interim Management Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.18 31.12.19 31.03.20 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,154 1,054 1,183 Total Assets 1,268 1,185 1,451 Current

Management Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.18 31.12.19 30.06.20 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,154 1,054 1,054 Total Assets 1,268 1,185 1,304 Current

Interim Management Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.18 31.12.19 30.09.20 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,154 1,054 1,059 Total Assets 1,268 1,185 1,318 Current

Management Discussion and Analysis as follows : FINANCIAL SUMMARY 31.12.17 31.12.18 30.09.19 FINANCIAL POSITION (MILLION BAHT) Current Assets 1,119 1,154 1,176 Total Assets 1,242 1,268 1,300 Current

usage of purchasing raw materials in order to reduce loan interest  Other non-current financial assets decreased of 42.63 Million Baht due to closure of equity funds and in the process of accepting

Date : 23/02/2001 09:16:00 -Translation- 14 November 2017 Subject : Information Memorandum Concerning Acquisition of Assets Attention : President The Stock Exchange of Thailand Vanachai Group Public