The Notification of the Ministry of Finance -Unofficial Translation- This English version is prepared by Legal Counsel and Development Department with the sole purpose of facilitating the

Microsoft PowerPoint - BTSG Green Bond at Towards the Sustaibable Finance and Investment in Thailand downloaded version BTS Group Holdings PCL Towards the Sustainable Finance & Investment in Thailand

expansion and acquisition of Thai food business completed in 4Q16. Finance Expenses Financial expenses increased during the period from THB 17.4 Mn in 2016 to THB 24.5 Mn in 2017 from increased short-term

the future business expansion. Finance Expenses Financial expenses increased during the period from THB 17.4 Mn in 2016 to THB 24.5 Mn in 2017, an increase of THB 7.1 Mn or 40.8%. This was due to

business expansion and higher accrued staff bonus. Finance Expenses Financial expenses increased during the period from THB 17.5 Mn in 9M17 to THB 18.9 Mn in 9M18 from increased short-term borrowing as

ending 30 June 2018 to 15.6% in the same period of 2019. Finance Expenses Finance expenses decreased from THB 6.4 Mn in the 2nd quarter of 2018 to THB 0.1 Mn in the same period of 2019, a decrease of THB

ending 30 September 2018 to 15.7% in the same period of 2019. 5 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 Finance Expenses Finance

) (109) 27 -25% (75) (75) 0 0% Finance cost - Interest expenses (11) (11) 0 0% (7) (8) 1 -13% Corporate income tax 3 (8) 11 -143% 6 (7) 13 -176% Earnings (Loss) for the Period 19 (50) 69 -138% (6) (30) 24

Income 9 11 -2 -18% 19 16 3 19% Distribution costs -97 -93 4 4% -77 -84 -7 -8% Administrative expenses -139 -154 -15 -10% -113 -126 -13 -10% Finance cost - Interest expenses -11 -8 3 36% -8 -6 2 37

Amount % Cost of sales (,) (,) (,) .% Selling expenses (,) (,) (,) .% Administrative expenses (,) (,) (,) .% Finance costs (,) (,) , -.% Total (,) (,) (,) .% Cost of goods sold increased 3.81 percent from