Interim report
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ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025 September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 "Unaudited" "Unaudited" Notes "Reviewed" "Audited" "Reviewed" "Audited" Assets Current assets Cash and cash equivalents 6 347,379,657 272,128,953 243,104,949 152,484,210 Trade and other current receivables - net 5, 7 612,329,143 598,852,048 540,532,327 592,915,531 Current contract assets - net 8 233,160,721 117,998,428 198,211,134 117,998,428 Short-term loans to other companies 9 35,580,000 23,286,036 35,580,000 23,286,036 Current portion of long-term loans to other parties - net 11 51,876,914 87,218,842 51,876,914 87,218,842 Inventories - net 10 616,140,577 636,924,032 548,297,101 626,829,844 Total current assets 1,896,467,012 1,736,408,339 1,617,602,425 1,600,732,891 Non-current assets Restricted deposits at financial institutions 20, 22 125,842,485 99,176,057 99,617,136 99,176,057 Non-current trade receivables - net 7 - - - - Non-current contract assets 8 3,201,666 14,629,229 3,201,666 14,629,229 Long-term loans to related party - net 5 - - 55,719,175 55,719,175 Long-term loans to other parties - net 11 11,156,201 10,174,809 11,156,201 10,174,809 Investments in associated companies - net 12 6,763,943 105,203,029 6,763,943 99,493,132 Investments in subsidiaries - net 13 - - 260,986,439 123,536,439 Investment properties - net 14 57,571,939 31,023,012 47,311,994 58,193,345 Deposit for license fee 0 - 26,270,500 - - Property, plant and equipment - net 15, 20, 22 1,673,483,198 1,363,292,706 1,365,700,458 1,223,869,631 Right-of-use assets - net 5, 16 31,515,218 3,824,957 5,217,525 3,824,957 Goodwill 4 66,207,721 - - - Intangible assets - net 17 41,264,864 10,095,128 7,109,370 9,826,952 Deferred tax assets - net 18 32,087,121 27,289,658 32,393,191 28,640,273 Other non-current assets 5, 19 11,804,043 16,928,514 6,094,566 16,909,514 Total non-current assets 2,060,898,399 1,707,907,599 1,901,271,664 1,743,993,513 Total assets 3,957,365,411 3,444,315,938 3,518,874,089 3,344,726,404 ………….…………………….. (Mr.Phaiboon Ungkanakornkul) (Mr.Chairat Tangtivaja) Director Unit: Baht Consolidated financial statements Separate financial statements …………...……...……… Director The accompanying notes are an integral part of the financial statements. 2
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ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025 September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 "Unaudited" "Unaudited" Notes "Reviewed" "Audited" "Reviewed" "Audited" Liabilities and Shareholders' Equity Current liabilities Bank overdrafts and short-term loans from financial institutions 20 704,502,850 676,908,136 580,957,457 676,908,136 Trade and other current payables 5, 21 673,020,991 560,792,767 618,643,540 557,019,775 Current contract liabilities 8 137,063,838 96,720,134 136,372,723 96,720,134 Current portion of long-term loans from financial institutions 22 100,056,514 18,540,000 61,692,000 - Current portion of lease liabilities 5, 23 9,751,265 2,067,411 2,720,569 2,067,411 Current portion of other financial liabilities 1,424,231 - - - Short-term loans from related parties 5 6,000,000 - - - Accrued income tax 18,578,319 22,640,223 18,317,726 22,640,223 Total current liabilities 1,650,398,008 1,377,668,671 1,418,704,015 1,355,355,679 Non-current liabilities Long-term loans from financial institutions - net 22 152,960,745 51,904,458 74,106,969 - Lease liabilities - net 5, 23 22,747,055 1,388,852 2,033,452 1,388,852 Other financial liabilities - net 3,465,915 - - - Non-current retention payables 21,126,684 25,256,565 21,059,479 25,189,360 Non-current provisions for employee benefits 24 136,898,860 109,424,172 117,594,137 109,424,172 Non-current liabilities 5 669,000 107,500 492,980 431,980 Total non-current liabilities 337,868,259 188,081,547 215,287,017 136,434,364 Total liabilities 1,988,266,267 1,565,750,218 1,633,991,032 1,491,790,043 ………….…………………….. (Mr.Phaiboon Ungkanakornkul) (Mr.Chairat Tangtivaja) Director Unit: Baht Consolidated financial statements Separate financial statements …………...……...……… Director The accompanying notes are an integral part of the financial statements. 3
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ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF FINANCIAL POSITION AS AT SEPTEMBER 30, 2025 September 30, 2025 December 31, 2024 September 30, 2025 December 31, 2024 "Unaudited" "Unaudited" Notes "Reviewed" "Audited" "Reviewed" "Audited" Shareholders' Equity Share capital Authorized share capital 545,648,300 ordinary shares, at Baht 1 each 545,648,300 545,648,300 545,648,300 545,648,300 Issued and paid share capital 545,648,300 ordinary shares, at Baht 1 each 545,648,300 545,648,300 545,648,300 545,648,300 Premiums on ordinary shares 386,702,910 386,702,910 386,702,910 386,702,910 Other surpluses (Deficits) Discount on purchase of investments in subsidiaries - net 1,981,036 1,981,036 - - Deficit from changes in ownership interest in subsidiary (280,450) (280,450) - - Retained earnings Appropriated Legal reserve 55,000,000 55,000,000 55,000,000 55,000,000 Treasury shares reserve 25 103,088,034 59,856,846 103,088,034 59,856,846 Unappropriated 614,441,222 580,632,908 566,828,107 538,429,702 Treasury shares 25 (103,088,034) (59,856,846) (103,088,034) (59,856,846) Other component of shareholders' equity 336,275,720 336,275,720 330,703,740 327,155,449 Total shareholders' equity of the parent company 1,939,768,738 1,905,960,424 1,884,883,057 1,852,936,361 Non-controlling interests 29,330,406 (27,394,704) - - Total shareholders' equity 1,969,099,144 1,878,565,720 1,884,883,057 1,852,936,361 Total liabilities and shareholders' equity 3,957,365,411 3,444,315,938 3,518,874,089 3,344,726,404 ………….…………………….. (Mr.Phaiboon Ungkanakornkul) (Mr.Chairat Tangtivaja) Director …………...……...……… Director Unit: Baht Consolidated financial statements Separate financial statements The accompanying notes are an integral part of the financial statements. 4
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Notes 2025 2024 2025 2024 5 Revenues from sales and services 1,003,700,427 799,964,439 880,392,509 802,295,098 Costs of sales and services (750,375,722) (620,185,303) (661,202,453) (623,774,084) Gross profit 253,324,705 179,779,136 219,190,056 178,521,014 Gain on change in investment classification 4 12,166,122 - - - Other income 20,884,315 5,307,520 19,178,246 6,172,063 Profit before expenses 286,375,142 185,086,656 238,368,302 184,693,077 Expenses Distribution costs (84,958,357) (62,465,233) (72,745,008) (62,465,233) Administrative expenses (85,519,341) (92,291,054) (70,001,823) (89,533,653) Total expenses (170,477,698) (154,756,287) (142,746,831) (151,998,886) Profit from operating activities 115,897,444 30,330,369 95,621,471 32,694,191 Finance costs (8,782,447) (5,446,396) (4,960,181) (4,864,793) Share of profit (loss) of associates accounted for using the equity method (411,255) 2,794,673 - - Profit before income tax 106,703,742 27,678,646 90,661,290 27,829,398 Income tax expenses (21,793,687) (5,287,540) (19,939,826) (5,287,540) Profit for the period 84,910,055 22,391,106 70,721,464 22,541,858 Other comprehensive income (loss) Item that will not be reclassified to profit or loss Gain on revaluation of assets - net income tax - 336,275,720 - 327,155,449 Losses on re-measurements of defined benefit plans - net of income tax (5,374,434) - - - Other comprehensive income (loss) for the period, net of tax (5,374,434) 336,275,720 - 327,155,449 Total comprehensive income for the period 79,535,621 358,666,826 70,721,464 349,697,307 ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 Unaudited but reviewed Consolidated financial statements Separate financial statements Unit: Baht …………………………………….. …………………………………….. Director Director (Mr.Chairat Tangtivaja) (Mr.Phaiboon Ungkanakornkul) The accompanying notes are an integral part of the financial statements. 5
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ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES Notes 2025 2024 2025 2024 Profit (loss) attributable to Equity holders of the parent company 83,635,763 23,039,725 70,721,464 22,541,858 Non-controlling interests 1,274,292 (648,619) - - 84,910,055 22,391,106 70,721,464 22,541,858 Total comprehensive income (loss) attributable to Equity holders of the parent company 80,411,102 359,315,445 70,721,464 349,697,307 Non-controlling interests (875,481) (648,619) - - 79,535,621 358,666,826 70,721,464 349,697,307 Basic earnings per share Equity holders of the parent company 26 0.16 0.04 0.14 0.04 Weighted average number of issued and fully paid-up ordinary shares (shares) 26 518,654,057 529,948,300 518,654,057 529,948,300 Unaudited but reviewed Consolidated financial statements Separate financial statements …………………………………….. …………………………………….. (Mr.Phaiboon Ungkanakornkul) Director Director (Mr.Chairat Tangtivaja) Unit: Baht STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 The accompanying notes are an integral part of the financial statements. 6
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Notes 2025 2024 2025 2024 5, 28 Revenues from sales and services 2,316,928,154 2,296,438,490 2,207,074,546 2,288,789,875 Costs of sales and services (1,761,453,542) (1,850,752,492) (1,685,744,073) (1,854,292,221) Gross profit 555,474,612 445,685,998 521,330,473 434,497,654 Gain on change in investment classification 4 12,166,122 - - - Other income 47,900,440 42,445,857 48,412,554 50,971,804 Profit before expenses 615,541,174 488,131,855 569,743,027 485,469,458 Expenses Distribution costs (219,708,043) (177,348,440) (205,997,597) (177,348,439) Administrative expenses (184,496,774) (277,350,371) (167,241,506) (264,489,897) Total expenses (404,204,817) (454,698,811) (373,239,103) (441,838,336) Profit from operating activities 211,336,357 33,433,044 196,503,924 43,631,122 Finance costs (17,697,576) (16,370,798) (12,312,169) (15,653,534) Share of profit (loss) of associates accounted for using the equity method 12 (2,142,934) 5,352,266 - - Profit before income tax 191,495,847 22,414,512 184,191,755 27,977,588 Income tax expenses 18 (40,908,554) (1,473,539) (38,782,204) (1,473,539) Profit for the period 150,587,293 20,940,973 145,409,551 26,504,049 Other comprehensive income (loss) Item that will not be reclassified to profit or loss Gain on revaluation of assets - net of income tax - 336,275,720 3,548,291 327,155,449 Losses on re-measurements of defined benefit plans - net of income tax 24 (5,374,434) - - - Share of other comprehensive income of associate accounted for using the equity method - net of income tax 12 3,943,849 - - - Other comprehensive income (loss) for the period, net of tax (1,430,585) 336,275,720 3,548,291 327,155,449 Total comprehensive income for the period 149,156,708 357,216,693 148,957,842 353,659,498 (Mr.Phaiboon Ungkanakornkul) Unaudited but reviewed Consolidated financial statements Separate financial statements Unit: Baht ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 …………………………………….. …………………………………….. (Mr.Chairat Tangtivaja) Director Director The accompanying notes are an integral part of the financial statements. 7
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Notes 2025 2024 2025 2024 Profit attributable to Equity holders of the parent company 150,100,272 17,059,683 145,409,551 26,504,049 Non-controlling interests 487,021 3,881,290 - - 150,587,293 20,940,973 145,409,551 26,504,049 Total comprehensive income (loss) attributable to Equity holders of the parent company 150,819,460 353,335,403 148,957,842 353,659,498 Non-controlling interests (1,662,752) 3,881,290 - - 149,156,708 357,216,693 148,957,842 353,659,498 Basic earnings per share Equity holders of the parent company 26 0.29 0.03 0.28 0.05 Weighted average number of issued and fully paid-up ordinary shares (shares) 26 524,985,868 529,948,300 524,985,868 529,948,300 (Mr.Phaiboon Ungkanakornkul) Director Director ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF COMPREHENSIVE INCOME FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 (Mr.Chairat Tangtivaja) Unaudited but reviewed Consolidated financial statements Separate financial statements Unit: Baht …………………………………….. …………………………………….. The accompanying notes are an integral part of the financial statements. 8
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FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 Notes Unappropriated Balance as at January 1, 2025 545,648,300 386,702,910 1,981,036 (280,450) 55,000,000 59,856,846 580,632,908 (59,856,846) Changes in equity for the period : Dividend paid 27 - - - - - - (73,779,958) - Non-controlling interests increase 4 - - - - - - - - Non-controlling interests decrease from dissolution of subsidiary - - - - - - - - Profit distribution - - - - - - - - Total comprehensive income (loss) for the period - - - - - - 150,100,272 - Transfer to retained earnings - - - - - - 719,188 - Treasury shares reserve 26 - - - - - 43,231,188 (43,231,188) - Treasury shares 26 - - - - - - - (43,231,188) Balance as at September 30, 2025 545,648,300 386,702,910 1,981,036 (280,450) 55,000,000 103,088,034 614,441,222 (103,088,034) Balance as at January 1, 2024 545,648,300 386,702,910 1,981,036 (280,450) 55,000,000 59,856,846 619,642,185 (59,856,846) Changes in equity for the period : Dividend paid 27 - - - - - - (100,690,177) - Non-controlling interests increase - - - - - - - - Profit distribution - - - - - - - - Total comprehensive income (loss) for the period - - - - - - 17,059,683 - Balance as at September 30, 2024 545,648,300 386,702,910 1,981,036 (280,450) 55,000,000 59,856,846 536,011,691 (59,856,846) ………………...……………… ………………...……………… (Mr.Phaiboon Ungkanakornkul) Director ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY Unit: Baht Unaudited but reviewed Consolidated financial statements Retained earnings Issued and paid- up share capital Premiums on ordinary shares Discount on investments Deficit from changes in ownership interest in subsidiary Appropriated Legal reserve Treasury shares reserve Treasury shares The accompanying notes are an integral part of the financial statements. 9
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336,275,720 - - 336,275,720 1,905,960,424 (27,394,704) 1,878,565,720 - - - - (73,779,958) - (73,779,958) - - - - - 59,861,519 59,861,519 - - - - - (500,000) (500,000) - - - - - (973,657) (973,657) - (3,224,661) 3,943,849 719,188 150,819,460 (1,662,752) 149,156,708 - 3,224,661 (3,943,849) (719,188) - - - - - - - - - - - - - - (43,231,188) - (43,231,188) 336,275,720 - - 336,275,720 1,939,768,738 29,330,406 1,969,099,144 - - - - 1,608,693,981 (30,060,942) 1,578,633,039 - - - - (100,690,177) - (100,690,177) - - - - - 1,812,500 1,812,500 - - - - - (3,000,000) (3,000,000) 336,275,720 - - 336,275,720 353,335,403 3,881,290 357,216,693 336,275,720 - - 336,275,720 1,861,339,207 (27,367,152) 1,833,972,055 ………………...……………… (Mr.Chairat Tangtivaja) Director Other component of shareholders' equity Unit: Baht Unaudited but reviewed Consolidated financial statements Other comprehensive income Gain on revaluation of assets - net of income tax Losses on re- measurements of defined benefit plans - net of income tax Share of other comprehensive income of associate - net of income tax Total other component of shareholders' equity Total shareholders' equity of the parent company Non-controlling interest Total shareholders' equity The accompanying notes are an integral part of the financial statements. 10
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Other component of shareholders' equity Other comprehensive income Notes Unappropriated Treasury shares Balance as at January 1, 2025 545,648,300 386,702,910 55,000,000 59,856,846 538,429,702 (59,856,846) 327,155,449 1,852,936,361 Changes in equity for the period : Dividend paid 27 - - - - (73,779,958) - - (73,779,958) Total comprehensive income for the period - - - - 145,409,551 - 3,548,291 148,957,842 Treasury shares reserve 26 - - - 43,231,188 (43,231,188) - - - Treasury shares 26 - - - - - (43,231,188) - (43,231,188) Balance as at September 30, 2025 545,648,300 386,702,910 55,000,000 103,088,034 566,828,107 (103,088,034) 330,703,740 1,884,883,057 Balance as at January 1, 2024 545,648,300 386,702,910 55,000,000 59,856,846 567,411,726 (59,856,846) - 1,554,762,936 Changes in equity for the period : Dividend paid 27 - - - - (100,690,177) - - (100,690,177) Total comprehensive income for the period - - - - 26,504,049 - 327,155,449 353,659,498 Balance as at September 30, 2024 545,648,300 386,702,910 55,000,000 59,856,846 493,225,598 (59,856,846) 327,155,449 1,807,732,257 ………………...……………… ………………...……………… (Mr.Phaiboon Ungkanakornkul) (Mr.Chairat Tangtivaja) Director Director Separate financial statements ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 Unit: Baht Unaudited but reviewed Total shareholders' equity Legal reserve Treasury shares reserve Retained earnings Issued and paid-up share capital Premiums on ordinary shares Appropriated Gain on revaluation of assets - net of income tax The accompanying notes are an integral part of the financial statements. 10
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2025 Cash Flows from Operating Activities: Profit for the period 150,587,293 Adjustments to reconcile profit (loss) for the period to cash provided by (used in) operating activities Depreciation and amortization 52,654,505 Bad debt expense - (Reversal) Expected credit loss of accounts receivables (20,988,477) Allowance for impairment of accrued interest income - (Reversal) Expected credit loss of current contract assets (3,052,384) Reversal expected credit loss of loans to related party - Expected credit loss of long-term loans to other company 32,000,000 Allowance for impairment of investment in associate 1,106,123 Reversal allowance for materials from the decommissioning power plant - Allowance for inventories devaluation 14,727,812 Gain from disposal of fixed asset (920,822) Gain from disposal of investment properties (7,550) (Gain) loss from disposal of intangible asset 157,930 Gain on change in investment classification (12,166,122) Share of (profit) loss of associates accounted for using the equity method 2,142,934 Non-current provisions for employee benefits 9,022,420 (Reversal) provision for losses on a project contract (161,925) Provision for warranty 1,552,414 Withholding income tax written - off 346,632 Dividend incomes - Interest incomes (10,470,356) Profit from lease contract modifications (64,926) Interest expenses 17,697,576 Income tax expenses 40,908,554 Profit from operating activities before changes in operating assets and liabilities 275,071,631 (Mr.Phaiboon Ungkanakornkul) Consolidated financial statements ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF CASH FLOWS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 …………………………………….. …………………………………….. Director Director The accompanying notes are an integral part of the financial statements. 11
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2025 Consolidated financial statements ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF CASH FLOWS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 Cash Flows from Operating Activities (continued) : Changes in operating assets (increase) decrease Trade and other current receivables 95,978,840 Current contract assets (85,848,018) Materials from the decommissioning power plant - Inventories 16,445,948 Non-current trade receivables - Non-current contract assets 11,427,563 Other non-current assets 11,740,907 Changes in operating liabilities increase (decrease) Trade and other current payables 53,016,407 Current contract liabilities 39,691,150 Non-current retention payables (4,129,881) Other non-current liabilities 61,000 Cash provided by operating activities 413,455,547 Employee benefits obligations paid (610,080) Interest incomes 5,911,574 Interest paid (17,721,017) Cash received from corporate income tax refund 1,453,045 Income tax paid (51,326,388) Net cash provided by operating activities 351,162,681 Cash Flows from Investing Activities: Restricted deposits at financial institutions increase (449,477) Cash received from short-term loans to a related party - Cash received from short-term loans to other companies 18,786,036 Cash payment for short-term loan to other companies (31,080,000) Cash received from long-term loan to other parties 17,280,952 Cash payment for long-term loan to other parties (14,920,416) Cash received for short-term loan from relate parties 8,000,000 Cash payment for short-term loan from relate parties (2,000,000) (Mr.Phaiboon Ungkanakornkul) …………………………………….. …………………………………….. Director Director The accompanying notes are an integral part of the financial statements. 12
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2025 Consolidated financial statements ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF CASH FLOWS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 Cash Flows from Investing Activities (continued) : Cash payment for investments in associates - Cash received from dividends of a liquidated subsidiary - Cash received from capital return of a liquidated subsidiary - Cash payment for business acquisition (46,800,000) Cash increased from business acquisition 735,085 Cash payment for deposit for machinery and license - Cash received from disposal of investment properties 9,116 Cash payment for acquisition of investment properties (469,059) Cash received from disposal of property, plant and equipment 1,027,092 Cash payment for acquisition of property, plant and equipment (123,039,005) Cash received from disposal of intangible asset 15,600 Cash payment for acquisition of intangible asset (8,002,650) Cash payment for assets payable (25,083,564) Cash received from dividend income 2,100,000 Net cash used in investing activities (203,890,290) Cash Flows from Financing Activities: Decrease in bank overdraft and short-term loans from financial institutions (70,291,528) Cash received from long-term loan from financial institutions 164,593,291 Cash payment for long-term loan from financial institutions (43,773,648) Cash payment for lease liabilities (3,722,581) Cash payment for other lease liabilities (342,418) Dividend paid (73,779,958) Cash payment for treasury shares (43,231,188) Cash payment for non-controlling interests from a liquidation of subsidiary (500,000) Proceeds from ordinary share from non-controlling interests - Non-controlling interest decrease from profit distribution (973,657) Net cash used in financing activities (72,021,687) Net cash and cash equivalents decrease 75,250,704 Cash and cash equivalents at the beginning of the period 272,128,953 Cash and cash equivalents at the end of the period 347,379,657 (Mr.Phaiboon Ungkanakornkul) Director …………………………………….. …………………………………….. The accompanying notes are an integral part of the financial statements. 13
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2025 Consolidated financial statements ASEFA PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES STATEMENT OF CASH FLOWS FOR THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2025 Supplemental Disclosures of Cash Flows Information Non-cash transaction Reclassified short-term loan to other companies to long-term loan to other companies - Transfer property, plant and equipment to investment property - Transfer deposit for license to property, plant and equipment - Transfer investment property to property, plant and equipment - Transfer inventories to property, plant and equipment 13,780,051 Transfer deposit for license to intangible asset 26,270,500 Increase right-of-use assets from lease liabilities 3,365,660 Increase (Decrease) in right-of-use assets and lease liabilities from lease modification 221,548 Increase in assets payables 26,512,520 (Mr.Phaiboon Ungkanakornkul) …………………………………….. …………………………………….. Director Director The accompanying notes are an integral part of the financial statements. 14
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2024 2025 2024 20,940,973 145,409,551 26,504,049 33,022,614 38,705,452 32,995,096 1,729 - 1,729 60,375,459 (14,006,042) 60,405,930 1,563,240 - 1,563,240 82,606,597 (3,841,273) 82,606,597 - - (10,830,716) - 32,000,000 - 59,247 1,579,189 - (18,491,733) - - 6,933,905 14,727,812 6,933,905 (363,046) (579,600) (363,046) - (7,550) - (1,585) 157,930 (1,585) - - - (5,352,266) - - 7,884,893 8,780,045 7,884,893 20,230 (161,925) 20,230 - - - - - - - (3,073,657) (7,250,000) (10,782,890) (10,192,051) (10,622,046) - - - 16,370,798 12,312,169 15,653,534 1,473,539 38,782,204 1,473,539 196,261,704 260,592,254 206,975,349 (Mr.Chairat Tangtivaja) Consolidated financial statements Separate financial statements Unit: Baht Unaudited but reviewed …………………………………….. …………………………………….. Director Director The accompanying notes are an integral part of the financial statements. 15
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2024 2025 2024 Consolidated financial statements Separate financial statements Unit: Baht Unaudited but reviewed 74,915,399 70,883,486 82,605,674 226,271,730 (76,371,433) 225,996,930 18,491,733 - - (15,648,940) 50,024,880 (10,222,774) (365,677) - (365,677) (7,610,644) 11,427,563 (7,610,644) (3,014,237) 10,814,948 (3,014,237) (144,135,014) 57,615,838 (144,538,813) 14,343,474 39,652,589 12,165,223 27,559,222 (4,129,881) 27,493,597 (997,626) 61,000 322,480 386,071,124 420,571,244 389,807,108 (1,284,745) (610,080) (1,284,745) 11,686,262 5,697,811 11,846,858 (17,012,176) (12,326,560) (16,304,272) 43,795 - - (40,872,930) (47,744,692) (39,796,181) 338,631,330 365,587,723 344,268,768 (379,555) (441,079) (379,555) - - 2,713,797 11,322,678 18,786,036 11,322,678 (36,500,000) (31,080,000) (36,500,000) 31,820,488 17,280,952 31,820,488 (62,143,896) (14,920,416) (62,143,896) - - - - - - (Mr.Chairat Tangtivaja) …………………………………….. …………………………………….. Director Director The accompanying notes are an integral part of the financial statements. 16
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2024 2025 2024 Consolidated financial statements Separate financial statements Unit: Baht Unaudited but reviewed (45,900,000) - (45,900,000) - 973,657 - - 500,000 - - (46,800,000) (5,437,500) - - - (39,401,202) - - - 9,116 - - (469,059) - 2,586,050 1,027,092 2,586,050 (144,339,062) (120,913,772) (138,735,339) 1,630 15,600 1,630 (570,240) (405,700) (510,980) (13,900,058) (21,398,653) (13,900,058) 4,250,000 2,100,000 7,250,000 (293,153,167) (195,736,226) (247,812,685) (72,178,602) (95,950,679) (72,178,602) 85,894,458 160,362,969 - (10,815,000) (24,564,000) - (2,001,712) (2,067,902) (2,001,712) - - - (100,690,177) (73,779,958) (100,690,177) - (43,231,188) - - - - 1,812,500 - - (3,000,000) - - (100,978,533) (79,230,758) (174,870,491) (55,500,370) 90,620,739 (78,414,408) 247,296,072 152,484,210 135,241,223 191,795,702 243,104,949 56,826,815 (Mr.Chairat Tangtivaja) Director …………………………………….. …………………………………….. The accompanying notes are an integral part of the financial statements. 17
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2024 2025 2024 Consolidated financial statements Separate financial statements Unit: Baht Unaudited but reviewed 25,265,520 - 25,265,520 - - 27,942,372 85,890,858 - - - 10,436,552 - - 13,780,051 - - - - - 3,365,660 - (66,983) - (66,983) 28,435,052 25,582,896 22,630,812 (Mr.Chairat Tangtivaja) …………………………………….. …………………………………….. Director Director The accompanying notes are an integral part of the financial statements. 18