2,643 5% Earnings Per Share (Baht per share) 4.04 2.71 3.26 20% -19% 10.02 10.57 5% 3 Sales and Revenues Structure for the first nine-months of 2021. - Credit Card For the first nine-months of 2021

SUBSIDIES SEC Classification : ใชภ้ายใน (Internal) ANALYST FOLLOWING • He & Tian (2013): Analysts make a firm forego valuable long-term investments to meet short-term targets. • Lee & Mo (2020): Earnings

there was still a temporary loss during the early stage of the commercial sales of the new product in the Jiangsu factory and the painting segment around Baht 12.6 million and Baht 13.3 million

13 13 13 Kilometers flown Million Kilometers 0.4 12.2 12.1 25.5 Average Stage Length Kilometers 575.6 787.3 701.1 759.6 Passenger Yield (2) Baht per Passenger - Kilometer 4.76 4.04 4.77 4.42 Revenue

PowerPoint Presentation Management Discussion and Analysis 3rd Quarter of 2020 Q3/2020 Q3/2020 and Recent Highlights In the third quarter of 2020, economic factors that affected company's results of operations include (i) natural gas price and coal price that continued to drop further from previous quarter resulting in lower costs of sales and increasing industrial customers sales margin in spite of the slightly decrease of the fuel adjustment charge (Ft) for the collection of September - Decemb...

effect. Normalized Net Income clearly reflects the company's true earnings from its normal operations. In Q2/2019, the company had a NNP of Baht 1,217 million. Normalized Net Income PAGE 9PAGE 9 MANAGEMENT

/2019 2020 2019 (%) Net profit /1 3,095 7,671 9,347 (59.7)% (66.9)% 10,765 18,375 (41.4)% Earnings per share (Baht) 1.62 4.02 4.90 (59.7)% (66.9)% 5.64 9.63 (41.4)% Net interest margin 2.13% 2.52% 2.36

three-factor model, describing the liquidity premium, subsuming documented anomalies associated with size, long-term contrarian investment, and fundamental (cash flow, earnings, and dividend) to price

434.91 242.46 125.99 213.44 96.37 Long-term Liabilities 95.03 74.59 138.58 63.99 85.79 43.55 45.83 Retained Earnings 427.91 436.51 619.34 182.83 41.88 191.43 44.74 Total Liabilities and Retained Earnings

192.45 434.91 242.46 125.99 213.44 96.37 Long-term Liabilities 95.03 74.59 138.58 63.99 85.79 43.55 45.83 Retained Earnings 427.91 436.51 619.34 182.83 41.88 191.43 44.74 Total Liabilities and Retained