the displayed buying and selling prices of order book do not align with the actual market prices, causing the coin prices displayed in the order book was inaccurately. DAB Act S.94 Settlement

and did not affect the Company’s cash flow or its operating performance. KEY HIGHLIGHTS • Total revenue and share of profit from investments in associates decreased by 6.3%. However, if excluding the FX

credit rating of the Company. Cash flow statements As for cash flow statements as of 31st March 2020 and 31st December 2019, the net cash flow increases 461.18 million THB or 92% as a result of the

business plan 2021 - 2024. Cash flow statement Regarding the cash flow statement as of 31st March 2021 and 31st December 2020, the net cash flow increases 546.06 million THB or 59.57% mainly because of the

more than the Company’s current volume of production. Consequently, it will support the Company in order to serve the increasing demands of its customers and will enhance the business operation of the

December 31, 2017, the book value of BBW share was about 4.69 baht per share, plus the margin Criteria of calculation Formula of calculation Transaction size 1. Net tangible assets (NTA) Disposed proportion

which is the transaction of assets or service in middle size in value more than 0.03% but less than 3% of book value of tangible assets (the reviewed of the consolidated financial statement as at 30

298.47 million. In addition, the cash flow hedge reserve decreased equity in the amount of Baht 276.10 million. Management Discussion and Analysis For the 1st Quarter Ended 31 March, 2019 Page 8 4

Company Limited as of 31st December 2019 as follows: A. Book value B. Adjusted book value based on market value C. Discounted cash flow method Value of shares of Modern Pharma Company Limited based on

Number of Ordinary Shares (Million Shares)* 947.96 947.96 - - Book Value (Baht per Share)* 2.19 2.10 0.09 4.29 Remark: * Calculated based on the number of issued and paid-up ordinary shares deducted by the