Low Carbon Land Transport and the Climate Bonds Standard (Version 1.0) Background Paper to Eligibility Criteria Low Carbon Transport Technical Working Group Climate Bonds Standard and Certification

27.44 million Baht or 15.40%. Due to our major customers had change mode from Sea freight to Air freight and inland transport to reach the destination faster. As a result, revenue from marine

., Ltd., in the proportion of 40% of total ordinary shares Therefore the company must have revenue recognition Into the financial statement Resulting in increased service revenue Which can classify income

purchased ordinary shares of WICE Logistics (Shenzhen) Company Limited in proportion 7 0% of the total shares the company must therefore have an income recognition. Into the financial statements Resulting in

increase of Baht 53.41 million or 49.96 percent, respectively. This was mainly due to the recognition of Universal Worldwide Transportation Limited's revenues for this quarter. And some of the revenue from

ordinary shares Therefore the company must have revenue recognition into the financial statement Resulting in increased service revenue Which can classify income as follows Unit : million baht Service For

million, an increase of Baht 171.83 million or 5 8 . 4 9 percent, respectively. as result of the revenue recognition of Sun Express Logistics Pte. Ltd. for this year. The Company recognizes revenue from

transport and cross border service 2. Revenue from Air Freight for the three-month periods ended March 31 , 2020 and March 31, 2019 was 301.45 million baht and 162.73 million baht respectively, an increase of

18.79 2.98 Air Freight 813.05 863.02 -49.97 -5.79 Logistics Management 353.77 357.41 -3.64 -1.02 Cross-border transport 478.74 51.66 427.08 826.71 Related party transactions -75.02 -71.53 -3.49 4.88 Total

reason is that in Q2–2019, there was recognition of revenue from many large-scale projects which had a relatively low gross margin. Furthermore, In Q2–2019, there was an additional reserve for employee