Financial Statement

SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED

INTERIM CONSOLIDATED AND SEPARATE FINANCIAL INFORMATION (UNAUDITED)

30 SEPTEMBER 2021

AUDITOR'S REPORT ON THE REVIEW OF THE INTERIM FINANCIAL INFORMATION

To the Shareholders and the Board of Directors of Siamgas and Petrochemicals Public Company Limited

I have reviewed the interim consolidated financial information of Siamgas and Petrochemicals Public Company Limited and its subsidiaries, and the interim separate financial information of Siamgas and Petrochemicals Public Company Limited. These comprise the consolidated and separate statements of financial position as at 30 September 2021, the related consolidated and separate statements of income and comprehensive income for the three-month and nine-month periods then ended, the related consolidated and separate statements of changes in equity and cash flows for the nine-month periods then ended, and condensed notes to the interim financial information. Management is responsible for the preparation and presentation of this interim consolidated and separate financial information in accordance with Thai Accounting Standard 34, 'Interim Financial Reporting'. My responsibility is to express a conclusion on this interim consolidated and separate financial information based on my review.

Scope of review

I conducted my review in accordance with the Thai Standard on Review Engagements 2410, "Review of interim financial information performed by the independent auditor of the entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Thai Standards on Auditing and consequently does not enable me to obtain assurance that I would become aware of all significant matters that might be identified in an audit. Accordingly, I do not express an audit opinion.

Conclusion

Based on my review, nothing has come to my attention that causes me to believe that the accompanying interim consolidated and separate financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard 34, "Interim Financial Reporting".

PricewaterhouseCoopers ABAS Ltd.

Chaisiri Ruangritchai

Certified Public Accountant (Thailand) No. 4526

Bangkok

9 November 2021

Siamgas and Petrochemicals Public Company Limited

Statement of Financial Position

As at 30 September 2021

			Consolidated financial information	Separate financial information
			Unaudited		Audited	Unaudited		Audited
			30 September		31 December	30 September		31 December
			2021	2020		2021	2020
	Notes	Baht'000		Baht'000	Baht'000		Baht'000
Assets
Current assets
Cash and cash equivalents			3,104,576	2,975,491		198,308	141,109
Financial assets measured at fair value
through profit or loss	7		94,768	94,916		94,768	94,916
Trade and other receivables, net	9		5,465,753	3,959,933		289,318	611,747
Inventories, net	10		7,636,232	5,303,873		130,871	124,227
Other current assets			324,795	161,390		5,309	5,586
Total current assets			16,626,124		12,495,603		718,574		977,585
Non-current assets
Investments in subsidiaries, net	11		-	-		11,062,879	11,061,309
Investments in associates	11		2,160,694	2,029,884		-	-
Investments in joint ventures	11		36,318	62,682		23,578	23,578
Long-term loans to related parties	23		977,166	867,337		4,218,767	4,481,945
Investment property, net			166,567	167,053		1,132,225	1,132,600
Property, plant and equipment, net	12		22,087,783	21,127,810		5,731,052	5,637,104
Right-of-use assets, net	13		1,159,663	1,086,626		194,444	212,904
Goodwill, net			2,723,956	2,723,956		-	-
Intangible assets, net	12		84,372	69,306		3,191	3,525
Derivative assets	7		-	38,177		-	-
Deferred tax assets, net			87,550	60,524		-	-
Other non-current assets	14		1,266,843	658,860		1,333,747	620,178
Total non-current assets			30,750,912		28,892,215		23,699,883		23,173,143
Total assets			47,377,036		41,387,818		24,418,457		24,150,728

Director _______________________________________

Director _______________________________________

The notes to the interim financial information from pages 14 to 39 are an integral part of these interim financial information.

2

Siamgas and Petrochemicals Public Company Limited

Statement of Financial Position

As at 30 September 2021

			Consolidated financial information	Separate financial information
			Unaudited		Audited	Unaudited		Audited
			30 September		31 December	30 September		31 December
			2021	2020		2021	2020
	Notes	Baht'000		Baht'000	Baht'000		Baht'000
Liabilities and equity
Current liabilities
Short-term borrowings
from financial institutions, net	15		4,704,218	3,363,434		780,000	320,000
Trade and other payables	16		5,773,998	4,313,307		407,282	401,766
Current portion of lease liabilities, net			54,706	48,818		21,559	20,427
Current portion of derivatives liabilities	7		771	-		477	-
Current portion of long-term loans
from financial institutions, net	17		733,820	968,204		383,600	546,000
Current portion of bonds, net	18		2,998,281	-		2,998,281	-
Accrued income tax			337,927	218,933		-	-
Other current liabilities			101,942	73,125		44,532	24,393
Total current liabilities			14,705,663		8,985,821		4,635,731		1,312,586
Non-current liabilities
Lease liabilities, net			566,316	529,381		81,255	96,334
Derivative liabilities	7		9,360	4,500		-	1,651
Long-term loans from financial
institutions, net	17		1,407,550	1,556,099		581,000	375,600
Long-term loans from related parties	23		-	-		1,642,227	1,573,379
Bonds, net	18		7,982,293	10,970,315		7,982,293	10,970,315
Cylinder deposits			5,846,274	5,494,113		1,386,898	1,265,814
Employee benefit obligations			269,782	279,917		102,574	106,025
Deferred tax liabilities, net			611,821	614,793		94,502	92,525
Other non-current liabilities			82,679	89,344		2,564	2,708
Total non-current liabilities			16,776,075		19,538,462		11,873,313		14,484,351
Total liabilities			31,481,738		28,524,283		16,509,044		15,796,937

The notes to the interim financial information from pages 14 to 39 are an integral part of these interim financial information.

3

Siamgas and Petrochemicals Public Company Limited

Statement of Financial Position

As at 30 September 2021

			Consolidated financial information	Separate financial information
			Unaudited		Audited	Unaudited		Audited
			30 September		31 December	30 September		31 December
			2021	2020		2021	2020
	Note	Baht'000		Baht'000	Baht'000		Baht'000
Liabilities and equity (continued)
Equity
Share capital
Authorised share capital
1,837,863,000 ordinary shares
with a par value of Baht 0.50 each			918,932	918,932		918,932	918,932
Issued and paid-up share capital
1,837,863,000 ordinary shares,
fully paid-up of Baht 0.50 each			918,932	918,932		918,932	918,932
Premium on share capital			1,874,482	1,874,482		1,874,482	1,874,482
Retained earnings
Appropriated - Legal reserve			162,089	162,089		162,089	162,089
Unappropriated			11,715,994	10,001,974		4,064,303	4,508,681
Other components of equity	22		858,464	(487,500)		889,607	889,607
Equity attributable to owners
of the parent			15,529,961	12,469,977		7,909,413	8,353,791
Non-controlling interests			365,337	393,558		-	-
Total equity			15,895,298		12,863,535		7,909,413		8,353,791
Total liabilities and equity			47,377,036		41,387,818		24,418,457		24,150,728

The notes to the interim financial information from pages 14 to 39 are an integral part of these interim financial information.

4