the liquidation of Solvay Biochemicals (Taixing) Limited were fully booked in 2017. 4. 93 MB loss on dilution on investment in an associate was recorded from the change in the Company’s ownership

sales volume mainly due to lower demand according to the drought mitigation plan by the government despite new contribution from Demineralized Water. While the revenue from Solar rooftop project increased

Profit of associate company and subsidiary company when compared with the same period of last year. For 9M18, Company represented net profit of THB 458 million, a 82% growth from 9M17. Excluding the non

9.86% Gains on changes in interests in investments in associate and joint venture 151 - 151 N/A Interest income 195 368 -173 -47.12% Other income 570 631 -61 -9.73% Cost of sales and services 16,704

attributable to lower industrial water’s sales volume mainly due to lower demand according to drought mitigation plan by the government despite new contribution from Demineralized Water. Gross Profit and Gross

104.79 1.35 1.3% Total expenses 3,066.16 2,946.38 119.78 4.1% Earning before interest and tax 341.41 279.67 61.74 22.1% Finance cost -4.83 -8.02 3.19 -39.8% Share of profit from investment in associate

contribution for the year amounted to THB 437mn and (iii) an increase of 36.7% YoY or THB 156mn of other revenue to THB 580mn. Total consolidated expenses amounted to THB 6,683mn in 2018, an increase of 40.3

-Translation- Ref. No. PorBor. 050 / 2019 December 27, 2019 Subject: Entering into Transaction of Acquisition of Associate Company’s ordinary shares To: President The Stock Exchange of Thailand

persons); therefore, it no longer has control in the company, resulting in the change of MACO’s status from a subsidiary to an associate company of VGI.  After the restructuring, MACO will focus on

Q2’2019 improved 29.0% / 25.7% q-on-q to Baht 886 million / Baht 557 million due to 1) new contributions from Nam Che 1 and Vietnam solar projects, 2) full period of contribution from SPP1, 3) 2.4