Interim report
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Delta Electronics (Thailand) Public Company Limited and its subsidiaries Review report and consolidated and separate financial information For the three-month and nine-month periods ended 30 September 2025
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Independent Auditor’s Report on Review of Interim Financial Information To the Shareholders of Delta Electronics (Thailand) Public Company Limited I have reviewed the accompanying consolidated financial information of Delta Electronics (Thailand) Public Company Limited and its subsidiaries (the Group), which comprises the consolidated statement of financial position as at 30 September 2025, the related consolidated statements of comprehensive income for the three-month and nine-month periods then ended, and the related consolidated statements of changes in shareholders’ equity and cash flows for the nine-month period then ended, as well as the condensed notes to the interim consolidated financial statements. I have also reviewed the separate financial information of Delta Electronics (Thailand) Public Company Limited for the same periods (collectively “the interim financial information”). Management is responsible for the preparation and presentation of this interim financial information in accordance with Thai Accounting Standard 34 Interim Financial Reporting. My responsibility is to express a conclusion on this interim financial information based on my review. Scope of review I conducted my review in accordance with 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 financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard 34 Interim Financial Reporting. Chatchai Kasemsrithanawat Certified Public Accountant (Thailand) No. 5813 EY Office Limited Bangkok: 24 October 2025
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Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statement of financial position As at 30 September 2025 (Unit: Thousand Baht) Note 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Unaudited (Audited) (Unaudited (Audited) but reviewed) but reviewed) Assets Current assets Cash and cash equivalents 13,336,638 15,700,903 7,995,189 9,790,790 Trade and other current receivables 3 47,107,640 32,906,076 48,890,064 34,500,166 Inventories 4 32,955,241 31,697,444 22,532,995 22,728,247 Derivative assets 17.2 119,752 43,659 119,751 42,574 Other current assets 5 2,936,873 2,183,436 1,279,706 682,982 Total current assets 96,456,144 82,531,518 80,817,705 67,744,759 Non-current assets Deposits at bank with restrictions 427,385 32,043 - - Investments in subsidiary companies 6 - - 22,461,224 20,283,903 Investments in associated companies 2,400 774 2,000 1,000 Investment properties 160,094 152,765 - - Property, plant and equipment 7 44,280,488 37,721,164 30,045,520 24,706,385 Advances to contractors and for acquisitions of assets 1,127,030 854,512 1,127,030 831,564 Right-of-use assets 506,885 464,456 87,625 26,881 Goodwill 422,811 433,690 - - Other intangible assets 112,296 137,782 40,712 44,266 Deferred tax assets 674,798 591,110 - - Other non-current assets 622,737 176,871 42,955 29,892 Total non-current assets 48,336,924 40,565,167 53,807,066 45,923,891 Total assets 144,793,068 123,096,685 134,624,771 113,668,650 The accompanying notes are an integral part of the interim financial statements. Consolidated financial statements Separate financial statements
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Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statement of financial position (continued) As at 30 September 2025 (Unit: Thousand Baht) Note 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Unaudited (Audited) (Unaudited (Audited) but reviewed) but reviewed) Liabilities and shareholders' equity Current liabilities Short-term loans from financial institutions 93,000 160,200 - - Trade and other current payables 8 42,681,153 35,793,288 35,542,782 29,583,365 Current portion of long-term loans from financial institutions 199,133 - - - Current portion of long-term loans from related parties 2 329,215 - - - Current portion of lease liabilities 112,261 84,825 32,115 20,555 Income tax payable 503,621 334,558 182,108 202,616 Provision for top-up tax 13 2,421,343 - 2,421,343 - Liabilities and provision from tax assessments 16.4.1 113,201 113,201 113,201 113,201 Other current provisions 11 498,852 519,859 482,066 488,958 Derivative liabilities 17.2 43,289 217,560 41,979 215,979 Other current liabilities 9 1,190,731 903,471 717,858 689,412 Total current liabilities 48,185,799 38,126,962 39,533,452 31,314,086 Non-current liabilities Long-term loans from financial institutions, net of current portion 197,510 - - - Long-term loans from related parties, net of current portion 2 832,500 1,087,672 - - Lease liabilities, net of current portion 166,902 123,475 54,722 5,214 Deferred tax liabilities 323,290 386,415 - - Non-current provision for employee benefits 10 1,645,230 1,559,244 817,415 768,254 Other non-current provisions 11 1,383,121 1,254,750 1,111,002 986,276 Other non-current liabilities 1,284,119 616,354 909,948 344,035 Total non-current liabilities 5,832,672 5,027,910 2,893,087 2,103,779 Total liabilities 54,018,471 43,154,872 42,426,539 33,417,865 The accompanying notes are an integral part of the interim financial statements. Consolidated financial statements Separate financial statements
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Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statement of financial position (continued) As at 30 September 2025 (Unit: Thousand Baht) 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Unaudited (Audited) (Unaudited (Audited) but reviewed) but reviewed) Shareholders' equity Share capital Registered 12,590,000,000 ordinary shares of Baht 0.1 each 1,259,000 1,259,000 1,259,000 1,259,000 Issued and fully paid 12,473,816,140 ordinary shares of Baht 0.1 each 1,247,382 1,247,382 1,247,382 1,247,382 Share premium 1,491,912 1,491,912 1,491,912 1,491,912 Difference from business combination under common control (1,339,694) (1,339,694) - - Retained earnings Appropriated - Statutory reserve 125,900 125,900 125,900 125,900 Unappropriated 93,655,576 81,834,974 89,333,038 77,385,591 Other components of shareholders' equity (4,406,479) (3,418,661) - - Total shareholders' equity 90,774,597 79,941,813 92,198,232 80,250,785 Total liabilities and shareholders' equity 144,793,068 123,096,685 134,624,771 113,668,650 - - - - The accompanying notes are an integral part of the interim financial statements. Directors Consolidated financial statements Separate financial statements
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(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statement of comprehensive income For the three-month period ended 30 September 2025 (Unit: Thousand Baht, except basic earnings per share expressed in Baht) Consolidated financial statements Separate financial statements Note 2025 2024 2025 2024 Profit or loss: Sales 52,354,875 42,358,299 46,088,358 36,963,664 Service income 859,121 866,828 93,174 75,635 Cost of sales (37,486,023) (30,730,831) (32,318,175) (26,061,748) Cost of services (643,016) (567,006) (92,194) (49,885) Gross profit 15,084,957 11,927,290 13,771,163 10,927,666 Gain (loss) on exchange 164,583 (349,740) 180,114 (322,195) Compensation for contract decommitment 999,721 64,425 979,272 64,105 Other income 261,716 297,259 221,411 266,042 Selling and distribution expenses 16.2.1 (5,023,636) (3,900,535) (4,600,434) (3,525,751) Administrative expenses (900,280) (953,585) (477,326) (599,670) Research and development expenses 16.2.2 (1,656,582) (1,084,320) (1,639,933) (1,084,774) Impairment loss on assets (114,532) - - - Other expenses (125,455) (6,179) (75,309) (4,637) Operating profit 8,690,492 5,994,615 8,358,958 5,720,786 Share of profit (loss) from investments in associates 355 (232) - - Finance income 46,375 85,079 18,661 34,461 Finance cost (6,652) (29,383) (373) (573) Profit before income tax 8,730,570 6,050,079 8,377,246 5,754,674 Income tax expenses 13 (1,289,195) (139,184) (1,187,119) (70,912) Profit for the period 7,441,375 5,910,895 7,190,127 5,683,762 The accompanying notes are an integral part of the interim financial statements.
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(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statement of comprehensive income (continued) For the three-month period ended 30 September 2025 (Unit: Thousand Baht, except basic earnings per share expressed in Baht) Consolidated financial statements Separate financial statements Note 2025 2024 2025 2024 Other comprehensive income: Other comprehensive income to be reclassified to profit or loss in subsequent periods: Exchange differences on translation of financial statements in foreign currency (682,093) (2,802,848) - - Other comprehensive income to be reclassified to profit or loss in subsequent periods (682,093) (2,802,848) - - Other comprehensive income for the period (682,093) (2,802,848) - - Total comprehensive income for the period 6,759,282 3,108,047 7,190,127 5,683,762 Profit attributable to: Equity holders of the Company 7,441,375 5,910,895 7,190,127 5,683,762 Total comprehensive income attributable to: Equity holders of the Company 6,759,282 3,108,047 7,190,127 5,683,762 Earnings per share 14 Basic earnings per share Profit attributable to equity holders of the Company 0.60 0.47 0.58 0.46 The accompanying notes are an integral part of the interim financial statements.
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(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statement of comprehensive income For the nine-month period ended 30 September 2025 (Unit: Thousand Baht, except basic earnings per share expressed in Baht) Consolidated financial statements Separate financial statements Note 2025 2024 2025 2024 Profit or loss: Sales 137,848,523 121,001,328 122,713,454 101,773,712 Service income 2,591,230 1,984,704 175,024 312,111 Cost of sales (101,370,120) (90,592,916) (88,144,477) (73,216,268) Cost of services (1,948,804) (1,272,061) (149,081) (180,433) Gross profit 37,120,829 31,121,055 34,594,920 28,689,122 Gain on exchange 500,720 259,207 516,237 260,467 Compensation for contract decommitment 1,226,396 593,368 1,198,358 593,919 Other income 563,572 716,677 451,602 598,699 Selling and distribution expenses 16.2.1 (11,927,725) (10,412,415) (10,692,184) (9,405,916) Administrative expenses (2,533,098) (2,442,625) (1,231,782) (1,361,928) Research and development expenses 16.2.2 (4,357,833) (2,738,080) (4,460,506) (2,915,925) Impairment loss on assets (114,532) - - - Other expenses (236,811) (15,063) (98,675) (7,945) Operating profit 20,241,518 17,082,124 20,277,970 16,450,493 Share of profit (loss) from investments in associates 626 (232) - - Finance income 196,184 192,472 118,742 52,458 Finance cost (37,634) (85,821) (581) (25,127) Profit before income tax 20,400,694 17,188,543 20,396,131 16,477,824 Income tax expenses 14 (2,842,137) (405,115) (2,710,729) (258,674) Profit for the period 17,558,557 16,783,428 17,685,402 16,219,150 The accompanying notes are an integral part of the interim financial statements.
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(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statement of comprehensive income (continued) For the nine-month period ended 30 September 2025 (Unit: Thousand Baht, except basic earnings per share expressed in Baht) Consolidated financial statements Separate financial statements Note 2025 2024 2025 2024 Other comprehensive income: Other comprehensive income to be reclassified to profit or loss in subsequent periods: Exchange differences on translation of financial statements in foreign currency (987,818) (1,495,046) - - Other comprehensive income to be reclassified to profit or loss in subsequent periods (987,818) (1,495,046) - - Other comprehensive income for the period (987,818) (1,495,046) - - Total comprehensive income for the period 16,570,739 15,288,382 17,685,402 16,219,150 Profit attributable to: Equity holders of the Company 17,558,557 16,783,428 17,685,402 16,219,150 Total comprehensive income attributable to: Equity holders of the Company 16,570,739 15,288,382 17,685,402 16,219,150 Earnings per share 14 Basic earnings per share Profit attributable to equity holders of the Company 1.41 1.35 1.42 1.30 The accompanying notes are an integral part of the interim financial statements.
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For the nine-month period ended 30 September 2025 (Unit: Thousand Baht) Exchange differences Issued and Difference from business on translation of Total other Total fully paid combination under financial statements components of shareholders' share capital Share premium common control Appropriated Unappropriated in foreign currency shareholders' equity equity Balance as at 1 January 2024 1,247,382 1,491,912 (1,339,694) 125,900 68,499,609 (2,486,558) (2,486,558) 67,538,551 Profit for the period - - - - 16,783,428 - - 16,783,428 Other comprehensive income for the period - - - - - (1,495,046) (1,495,046) (1,495,046) Total comprehensive income for the period - - - - 16,783,428 (1,495,046) (1,495,046) 15,288,382 Dividend paid (Note 12) - - - - (5,613,217) - - (5,613,217) Balance as at 30 September 2024 1,247,382 1,491,912 (1,339,694) 125,900 79,669,820 (3,981,604) (3,981,604) 77,213,716 Balance as at 1 January 2025 1,247,382 1,491,912 (1,339,694) 125,900 81,834,974 (3,418,661) (3,418,661) 79,941,813 Profit for the period - - - - 17,558,557 - - 17,558,557 Other comprehensive income for the period - - - - - (987,818) (987,818) (987,818) Total comprehensive income for the period - - - - 17,558,557 (987,818) (987,818) 16,570,739 Dividend paid (Note 12) - - - - (5,737,955) - - (5,737,955) Balance as at 30 September 2025 1,247,382 1,491,912 (1,339,694) 125,900 93,655,576 (4,406,479) (4,406,479) 90,774,597 - The accompanying notes are an integral part of the interim financial statements. Retained earnings (Unaudited but reviewed) Consolidated financial statements Other components of shareholders' equity Other comprehensive income Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statement of changes in shareholders' equity
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(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statement of changes in shareholders' equity (continued) For the nine-month period ended 30 September 2025 (Unit: Thousand Baht) Issued and Total fully paid shareholders' share capital Share premium Appropriated Unappropriated equity Balance as at 1 January 2024 1,247,382 1,491,912 125,900 63,990,888 66,856,082 Profit for the period - - - 16,219,150 16,219,150 Other comprehensive income for the period - - - - - Total comprehensive income for the period - - - 16,219,150 16,219,150 Dividend paid (Note 12) - - - (5,613,217) (5,613,217) Balance as at 30 September 2024 1,247,382 1,491,912 125,900 74,596,821 77,462,015 Balance as at 1 January 2025 1,247,382 1,491,912 125,900 77,385,591 80,250,785 Profit for the period - - - 17,685,402 17,685,402 Other comprehensive income for the period - - - - - Total comprehensive income for the period - - - 17,685,402 17,685,402 Dividend paid (Note 12) - - - (5,737,955) (5,737,955) Balance as at 30 September 2025 1,247,382 1,491,912 125,900 89,333,038 92,198,232 - The accompanying notes are an integral part of the interim financial statements. Separate financial statements Retained earnings
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(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Cash flow statement For the nine-month period ended 30 September 2025 (Unit: Thousand Baht) Consolidated financial statements Separate financial statements 2025 2024 2025 2024 Cash flows from operating activities: Profit before tax 20,400,694 17,188,543 20,396,131 16,477,824 Adjustments to reconcile profit before tax to net cash provided by (paid from) operating activities: Depreciation 5,813,462 4,829,510 4,742,576 3,805,940 Amortisation 51,306 52,186 8,105 8,721 Allowance for expected credit losses (reversal) 82,520 (56,542) (49,810) (25,391) Reduction of inventory to net realisable value 766,550 656,235 576,405 543,044 Reversal of the reduction to net realisable value of the written-off obsolete and damaged inventories (1,076,576) (804,711) (963,269) (681,368) Provisions 467,664 382,639 391,548 278,980 Provision for employee benefits 114,918 120,744 68,586 63,277 (Gain) loss from disposal/writte-off of property, plant and equipment 9,934 (11,990) 15,497 405 Impairment loss on assets 114,532 - - - Share of (profit) loss from investments in associates (626) 232 - - Unrealised (gain) loss on exchange (386,048) 778,166 (394,337) 861,066 Gain on fair value adjustments of derivative instruments (250,364) (1,188,989) (251,177) (1,188,705) Finance income (196,184) (192,472) (118,742) (52,458) Finance cost 37,634 85,821 581 25,127 Profit from operating activities before changes in operating assets and liabilities 25,949,416 21,839,372 24,422,094 20,116,462 Decrease (increase) in operating assets: Trade and other current receivables (14,061,187) (2,508,127) (14,121,623) (581,294) Inventories (900,419) 2,507,578 582,116 1,769,256 Other current assets (716,801) (667,355) (589,043) (7,246) Other non-current assets (323,976) 14,471 (13,063) (3,020) Increase (decrease) in operating liabilities: Trade and other current payables 6,036,122 4,233,876 5,204,055 3,438,769 Other current liabilities 310,477 (46,472) 49,431 (131,669) Cash paid for provisions (371,449) (44,471) (273,714) (9,810) Cash paid for employee benefits (56,856) (253,481) (19,425) (165,042) Other non-current liabilities 667,765 (37,993) 565,913 76,758 Cash flows from operating activities 16,533,092 25,037,398 15,806,741 24,503,164 Cash received from interest income 160,645 141,955 85,246 22,370 Cash paid for interest expenses (20,764) (68,619) - (26,705) Cash paid for corporate income tax (566,664) (890,709) (310,675) (536,107) Net cash flows from operating activities 16,106,309 24,220,025 15,581,312 23,962,722 The accompanying notes are an integral part of the interim financial statements.
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(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Cash flow statement (continued) For the nine-month period ended 30 September 2025 (Unit: Thousand Baht) Consolidated financial statements Separate financial statements 2025 2024 2025 2024 Cash flows from investing activities: (Increase) decrease in deposits at bank with restrictions (395,342) 1,876 - - Increase in investments in subsidiary - - (2,177,321) (1,363,864) Increase in investments in associated companies (1,000) (1,000) (1,000) (1,000) (Increase) decrease in advances to contractors and for acquisitions of assets (272,518) 77,431 (295,466) 77,431 Acquisition of property, plant and equipment (10,799,866) (9,540,201) (7,975,603) (6,799,810) Cash paid to others payable for purchase of plant and equipment (1,324,130) (1,180,124) (1,281,734) (1,142,974) Proceeds from disposal of plant and equipment 88,046 84,870 - 22,051 Acquisition of investment properties (2,732) (30,060) - - Acquisition of other intangible assets (14,962) (41,159) (4,551) (1,870) Net cash flows used in investing activities (12,722,504) (10,628,367) (11,735,675) (9,210,036) Cash flow from financing activities: Cash receipt from short-term loans from financial institutions 30,000 21,905,732 - 21,527,643 Repayment of short-term loans from financial institutions (97,200) (24,318,001) - (24,032,228) Cash receipt from short-term loans from related party 50,000 - - - Repayment of short-term loans from related party (50,000) - - - Cash receipt from long-term loans from financial institutions 396,643 - - - Cash receipt from long-term loans from related party - 360,398 - - Repayment of long-term loans from related party - (38,032) - - Repayment of liabilities under lease agreements (96,143) (95,438) (24,984) (34,583) Dividend paid (5,737,955) (5,613,217) (5,737,955) (5,613,217) Net cash flow used in financing activities (5,504,655) (7,798,558) (5,762,939) (8,152,385) Decrease in translation adjustments (435,016) (1,137,971) - - Net increase (decrease) in cash and cash equivalents before effect from currency translation (2,555,866) 4,655,129 (1,917,302) 6,600,301 Effect from currency translation of cash and cash equivalents 191,601 313,078 121,701 243,469 Net increase (decrease) in cash and cash equivalents (2,364,265) 4,968,207 (1,795,601) 6,843,770 Cash and cash equivalents at beginning of period 15,700,903 7,617,211 9,790,790 353,196 Cash and cash equivalents at end of period 13,336,638 12,585,418 7,995,189 7,196,966 - - Supplemental disclosures of cash flows information Non-cash transaction Additions to right-of-use assets and lease liabilities 160,170 31,129 85,471 7,054 Increase in others payable from purchase of plant and equipment 2,242,994 939,705 2,096,878 869,817 The accompanying notes are an integral part of the interim financial statements.
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(Unaudited but reviewed) 1 Delta Electronics (Thailand) Public Company Limited and its subsidiaries Condensed notes to interim financial statements For the three-month and nine-month periods ended 30 September 2025 1. General information 1.1 Basis of preparation of interim financial statements These interim financial statements are prepared in accordance with Thai Accounting Standard No. 34 Interim Financial Reporting, with the Company present ing condensed interim financial statements. The Company has presented the statements of financial position, comprehensive income, changes in shareholders' equity, and cash flows in the same format as that used for the annual financial statements and has presented notes to the interim financial statements on a condensed basis. The interim financial statements are intended to provide information additional to that included in the latest annual financial statements. Accordingly, they focus on new activities, events and circumstances so as not to duplicate information previously r eported. These interim financial statements should therefore be read in conjunction with the latest annual financial statements. The interim financial statements in Thai language are the official statutory financial statements of the Company. The interim financial statements in English language have been translated from the Thai language interim financial statements. 1.2 Basis of consolidation The interim consolidated financial statements include the financial statements of Delta Electronics (Thailand) Public Company Limited (“the Company”) and its subsidiar ies (“the subsidiaries”) (collectively as “the Group”) and have been prepared on the same basis as that applied for the consolidated financial statements for the year ended 31 December 2024, with no change in shareholding structure of subsidiaries during the current period. 1.3 Accounting policies The interim financial statements are prepared using the same accounting policies and methods of computation as were used for the financial statements for the year ended 31 December 2024. The revised financial reporting standards which are effective for fiscal years beginning on or after 1 January 2025, do not have any significant impact on the Group’s financial statements.
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(Unaudited but reviewed) 2 2. Related party transactions During the period, the Group had significant business transactions with related parties. Such transactions, which are summarised below, arose in the ordinary course of business. There were no significant changes in the transfer pricing policy of transactions with related parties during the current period. Summaries significant business transactions with related parties are as follows. (Unit: Million Baht) For the three-month periods ended 30 September Consolidated financial statements Separate financial statements 2025 2024 2025 2024 Transactions with the parent company Sales of goods and raw materials 691 178 687 178 Purchase of goods and raw materials 1,113 105 638 3 Purchase of equipment 38 37 105 37 Royalty paid (Note 16.2.1) 2,784 2,745 2,784 2,745 Service paid 38 14 38 14 Transactions with subsidiary companies (eliminated from the consolidated financial statements) Sales of goods and raw materials - - 20,398 10,748 Purchase of goods and raw materials - - 988 256 Purchase of equipment - - 46 19 Commission paid - - 172 153 Design and engineering fee paid (Note 16.2.2) - - 599 347 Transactions with associated companies Purchase of goods and raw materials 80 44 80 44 Transactions with related companies Sales of goods and raw materials 6,914 5,628 3,732 2,460 Purchase of goods and raw materials 5,515 2,844 4,388 1,002 Purchase of equipment 922 481 840 320 Commission paid 299 228 293 213 Commission received 138 102 - - Services income 49 88 - - Royalty income 95 - 95 - Design and engineering fee paid (Note 16.2.2) 403 308 396 300
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(Unaudited but reviewed) 3 (Unit: Million Baht) For the nine-month periods ended 30 September Consolidated financial statements Separate financial statements 2025 2024 2025 2024 Transactions with the parent company Sales of goods and raw materials 1,675 345 1,663 311 Purchase of goods and raw materials 1,839 228 655 7 Purchase of equipment 300 280 262 268 Royalty paid (Note 16.2.1) 6,598 6,813 6,598 6,813 Service paid 102 43 102 43 Transactions with subsidiary companies (eliminated from the consolidated financial statements) Sales of goods and raw materials - - 48,050 28,304 Purchase of goods and raw materials - - 1,893 936 Purchase of equipment - - 180 123 Commission paid - - 530 499 Design and engineering fee paid (Note 16.2.2) - - 1,582 782 Transactions with associated companies Purchase of goods and raw materials 203 44 203 44 Transactions with related companies Sales of goods and raw materials 18,586 15,457 9,533 5,807 Purchase of goods and raw materials 12,550 9,064 9,123 3,501 Purchase of equipment 1,937 1,438 1,776 1,236 Commission paid 835 798 812 767 Commission received 299 232 - - Services income 178 211 - - Royalty income 95 - 95 - Design and engineering fee paid (Note 16.2.2) 1,123 848 1,102 824
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(Unaudited but reviewed) 4 The balances of the accounts between the Group and those related companies are as follows: (Unit: Million Baht) Consolidated financial statements Separate financial statements 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Audited) (Audited) Trade receivables - related parties (Note 3) Parent company 692 237 686 229 Subsidiary companies - - 26,893 14,266 Related companies (common shareholders) 7,493 4,973 3,832 2,081 Total trade receivables - related parties 8,185 5,210 31,411 16,576 Other current receivables - related parties (Note 3) Subsidiary companies - - - 28 Related companies (common shareholders) 2 78 2 74 Total other current receivables - related parties 2 78 2 102 Amounts due from related parties (Note 3) Subsidiary companies - - 1 2 Total amounts due from related parties - - 1 2 Trade payables - related parties (Note 8) Parent company 957 454 233 223 Subsidiary companies - - 361 237 Associated companies 24 23 24 23 Related companies (common shareholders) 3,520 2,606 1,752 1,016 Total trade payables - related parties 4,501 3,083 2,370 1,499 Other current payables - related parties (Note 8) Parent company 1,252 1,017 1,206 1,010 Subsidiary companies - - 228 384 Related companies (common shareholders) 1,833 877 1,650 759 Total other current payables - related parties 3,085 1,894 3,084 2,153 Accrued expenses - related parties (Note 8) Parent company 665 433 665 433 Related companies (common shareholders) 175 190 170 187 Total accrued expenses - related parties 840 623 835 620
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(Unaudited but reviewed) 5 Short-term loan from related party (Unit: Million Baht) Consolidated financial statements Short-term loans Balance as at 1 January 2025 Increase during the period Repayment during the period Balance as at 30 September 2025 Related company (common shareholders) - Eltek Power Company Limited - 50 (50) - Total short-term loan from related party - 50 (50) - Short-term loan from Eltek Power Company Limited, which is unsecured, carries interest at a rate of 2.30 percent per annum, payable every three months . The principal repayment is scheduled for April 2026. Delta Green Industrial (Thailand) Co., Ltd. fully repaid both the principal and interest to Eltek Power Company Limited on 30 September 2025. Long-term loans from related parties (Unit: Million Baht) Consolidated financial statements Long-term loans Balance as at 1 January 2025 Translation adjustment Balance as at 30 September 2025 Related companies (common shareholders) - Eltek AS 733 50 783 - Delta International Holding Limited B.V. 355 24 379 Total long-term loans from related parties 1,088 74 1,162 Long-term loans from Eltek AS, which are unsecured, carry interest at a rate of EURIBOR + 0.50 percent per annum, payable every three months and six months. The principal repayments of EUR 9 million, or approximately Baht 329 million and EUR 12 million, or approximately Baht 454 million are scheduled for June 2026 and October 2027, respectively. Long-term loan from Delta International Holding Limited B.V., which is unsecured, carries interest at a rate of 4.45 percent per annum, payable every three months . The principal repayments of EUR 10 million, or approximately Baht 378 million is scheduled for August 2029.
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(Unaudited but reviewed) 6 Directors and management’s benefits (Unit: Million Baht) For the three-month periods ended 30 September Consolidated financial statements Separate financial statements 2025 2024 2025 2024 Short-term employee benefits 37 44 32 31 Post-employment benefits 3 4 3 3 Total 40 48 35 34 (Unit: Million Baht) For the nine-month periods ended 30 September Consolidated financial statements Separate financial statements 2025 2024 2025 2024 Short-term employee benefits 132 160 84 90 Post-employment benefits 9 11 9 9 Total 141 171 93 99
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(Unaudited but reviewed) 7 3. Trade and other current receivables (Unit: Million Baht) Consolidated financial statements Separate financial statements 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Audited) (Audited) Trade receivables, related parties (Note 2) Aged on the basis of due dates Not yet due 7,850 5,125 30,360 16,093 Past due Up to 3 months 326 76 1,039 477 3 - 6 months 8 9 10 6 6 - 12 months 1 - 2 - Total 8,185 5,210 31,411 16,576 Trade receivables, unrelated parties Aged on the basis of due dates Not yet due 32,755 24,027 14,841 15,282 Past due Up to 3 months 4,420 2,470 1,277 1,586 3 - 6 months 315 407 122 342 6 - 12 months 131 154 7 121 Over 12 months 49 27 4 - Total 37,670 27,085 16,251 17,331 Total trade receivables 45,855 32,295 47,662 33,907 Less: Allowance for expected credit losses (395) (320) (167) (217) Total trade receivables - net 45,460 31,975 47,495 33,690 Other current receivables Amounts due from related parties (Note 2) - - 1 2 Other current receivables - related parties (Note 2) 2 78 2 102 Other current receivables - unrelated parties 1,129 803 878 702 Accrued income - unrelated parties 481 44 481 4 Interest receivables - unrelated parties 36 6 33 - Total other current receivables 1,648 931 1,395 810 Trade and other current receivables - net 47,108 32,906 48,890 34,500
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(Unaudited but reviewed) 8 4. Inventories (Unit: Million Baht) Consolidated financial statements Separate financial statements 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Audited) (Audited) Inventories - cost 37,831 36,923 25,124 25,706 Reduce cost to net realisable value (4,876) (5,226) (2,591) (2,978) Inventories - net 32,955 31,697 22,533 22,728 Movements in the reduce cost to net realisable value of inventory account are summarised below. (Unit: Million Baht) Consolidated financial statements Separate financial statements Balance as at 1 January 2025 (5,226) (2,978) Increase during the period (864) (576) Reversal of the reduction to net realisable value of the written off obsolete and damaged inventories during the period 1,077 963 Reversal during the period 97 - Translation adjustment 40 - Balance as at 30 September 2025 (4,876) (2,591) 5. Other current assets (Unit: Million Baht) Consolidated financial statements Separate financial statements 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Audited) (Audited) Input tax refundable 1,989 1,154 1,133 599 Advance payments 181 136 14 5 Prepaid expenses 491 724 110 64 Prepaid tax 157 131 - - Others 119 38 23 15 Total other current assets 2,937 2,183 1,280 683
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(Unaudited but reviewed) 9 6. Investments in subsidiaries 6.1 Details of investments in subsidiaries as presented in separate financial statements (Unit: Million Baht) Company’s name Paid-up capital Cost Foreign currency 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Million) (Million) (Audited) DET International Holding B.V. USD 288 269 10,249 9,622 Delta Green Industrial (Thailand) Company Limited THB 206 206 206 206 Delta Energy Systems (Singapore) Pte. Ltd. USD 345 311 11,560 10,463 Delta Electronics (Vietnam) Company Limited USD 0.1 0.1 3 3 Delta Electronics India Manufacturing Private Limited INR 4,153 2,941 1,739 1,293 PT Delta Electronics Indonesia IDR 10,000 10,000 21 21 Delta Electronics Philippines Inc. PHP 12 - 7 - Subtotal 23,785 21,608 Less: Allowance for impairment loss of investments in subsidiaries (1,324) (1,324) Total investments in subsidiaries - net 22,461 20,284 No dividend was received from the above subsidiaries during the three-month and nine-month periods ended 30 September 2025 and 2024. 6.2 Significant events during the current period 6.2.1 Subsidiaries directly owned by the Company a) Establishment of new subsidiary Delta Electronics Philippines Inc. On 28 August 2023, a meeting of the Company’s Board of Directors passed a resolution approving the establishment of a subsidiary, Delta Electronics Philippines Inc., to support and expand the business of power electronics, automation and energy infrastructure . The subsidiary was incorporated in Philippines on 3 March 2025, with a registered capital of PHP 15 million. The Company holds 100% of the new subsidiary’s share capital. Delta Electronics Philippines Inc. called up PHP 12 million, or approximately Baht 7 million and has not commenced operations in the current quarter.
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(Unaudited but reviewed) 10 b) Additional investment in subsidiary companies - On 3 December 2024, a meeting of the Company’s Board of Directors passed a resolution to increase the Company’s investment in DET International Holding B.V. by USD 5 million, or approximately Baht 171 million, to enable the latter to invest in Delta Electronics (Automotive) Americas Inc. to support the expansion of research and development activities. The Company made the additional investment in the second quarter during the current year. - On 14 February 2025, a meeting of the Company’s Board of Directors passed a resolution to increase the Company’s investment in DET International Holding B.V. by EUR 12 million, or approximately Baht 456 million, to enable the latter to invest in Delta Electronics (Slovakia), s.r.o. for land acquisition to support production expansion. The Company made the additional investment in in the second quarter during the current year. - On 26 April 2024, a meeting of the Company’s Board of Directors passed a resolution to increase the Company’s investment in Delta Energy Systems (Singapore) Pte. Ltd. by USD 34 million, or approximately Baht 1,097 million, to enable the latter to invest in Delta Electronics India Pvt. Ltd. to support infrastructure improvements at the research and development center. The Company made the additional investment in the second quarter during the current year. - On 25 July 2025, a meeting of the Company’s Board of Directors approved an additional investment in Delta Electronics India Manufacturing Private Limited by INR 1,212 million, or approximately Baht 446 million. The purpose of the investment is to support the expansion of production and provide working capital for operations. The Company made the additional investment in the current quarter. The above additional investment had no impact on the investment structure of the Group. 6.2.2 Subsidiaries indirectly owned by the Company a) Dissolution of a subsidiary company - Delta Energy Systems (India) Pvt. Ltd., a subsidiary which the Company indirectly held 100%, has registered its dissolution and registered the completion of its liquidation in the first quarter during the current year. - Delta Energy Systems (Romania) S.R.L. , a subsidiary 100% indirectly held by the Company, registered its dissolution and the completion of its liquidation in the current quarter.
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(Unaudited but reviewed) 11 b) The merger of subsidiaries in Slovakia On 25 October 2024, a meeting of the Company’s Board of Directors passed a resolution to merge two subsidiaries in Slovakia, Delta Electronics (Slovakia), s.r.o. and Eltek s.r.o., with the merged business to belong to Delta Electronics (Slovakia), s.r.o. The subsidiaries’ merger was completed on 1 April 2025. The merger had no impact on the consolidated financial statements because it was a merger of subsidiaries within a group of companies under common control. 7. Property, plant and equipment Movements of the property, plant and equipment account are summarised below. (Unit: Million Baht) Consolidated financial statements Separate financial statements Net book value as at 1 January 2025 37,721 24,706 Acquisitions during period - cost 13,043 10,073 Disposals/write-off during period - net book value at disposal/write-off date (98) (15) Depreciation for the period (5,716) (4,718) Impairment loss on assets (115) - Translation adjustment (555) - Net book value as at 30 September 2025 44,280 30,046 8. Trade and other current payables (Unit: Million Baht) Consolidated financial statements Separate financial statements 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Audited) (Audited) Trade payables - related parties (Note 2) 4,501 3,083 2,370 1,499 Trade payables - unrelated parties 24,358 22,351 22,148 20,363 Other current payables - related parties (Note 2) 3,085 1,894 3,084 2,153 Other current payables - unrelated parties 2,864 2,412 2,325 1,854 Accrued expenses - related parties (Note 2) 840 623 835 620 Accrued expenses - unrelated parties 4,910 3,098 3,718 1,911 Advance received - unrelated parties 2,123 2,332 1,063 1,183 Total trade and other current payables 42,681 35,793 35,543 29,583
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(Unaudited but reviewed) 12 9. Other current liabilities (Unit: Million Baht) Consolidated financial statements Separate financial statements 30 September 2025 31 December 2024 30 September 2025 31 December 2024 (Audited) (Audited) Withholding tax payable 168 357 123 290 Value added tax payable 368 107 41 10 Advance received from compensation for contract decommitment 483 369 483 369 Others 172 70 71 20 Total other current liabilities 1,191 903 718 689 10. Non-current provision for employee benefits Movements of the non-current provision for employee benefits account are summarised below. (Unit: Million Baht) Consolidated financial statements Separate financial statements Balance as at 1 January 2025 1,559 768 Recognition during the period 115 68 Paid during the period (57) (19) Translation adjustment 28 - Balance as at 30 September 2025 1,645 817
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(Unaudited but reviewed) 13 11. Provisions (Unit: Million Baht) Consolidated financial statements Separate financial statements Other Warranty provisions Total Warranty Total Balance as at 1 January 2025 1,744 31 1,775 1,475 1,475 Recognition during the period 606 14 620 491 491 Paid during the period (371) - (371) (274) (274) Reversal during the period (125) (27) (152) (99) (99) Translation adjustment 12 (2) 10 - - Balance as at 30 September 2025 1,866 16 1,882 1,593 1,593 Other current provisions 489 31 520 489 489 Other non-current provisions 1,255 - 1,255 986 986 Balance as at 31 December 2024 (Audited) 1,744 31 1,775 1,475 1,475 Other current provisions 483 16 499 482 482 Other non-current provisions 1,383 - 1,383 1,111 1,111 Balance as at 30 September 2025 1,866 16 1,882 1,593 1,593 Warranty The Group recognised a provision for the expected warranty claims on products based on past experience of the level of repairs and returns with current sales for each type of products under current warranty. 12. Dividends Dividends declared in 2025 and 2024 consisted of the followings: Dividends Approved by Total dividends Dividend per share (Million Baht) (Baht) Final dividend for year 2024 Annual General Meeting of the shareholders on 2 April 2025 5,738 0.46 Final dividend for year 2023 Annual General Meeting of the shareholders on 11 April 2024 5,613 0.45
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(Unaudited but reviewed) 14 13. Income tax Interim corporate income tax was calculated on profit before income tax for the period, using the estimated effective tax rate for the year. Income tax expenses for the three-month and nine-month periods ended 30 September 2025 and 2024 are made up as follows: (Unit: Million Baht) For the three-month periods ended 30 September Consolidated financial statements Separate financial statements 2025 2024 2025 2024 Current income tax: Interim corporate income tax charge (261) (112) (154) (71) Top-up tax (1,033) - (1,033) - Deferred tax: Relating to origination and reversal of temporary differences 14 (35) - - Translation adjustment (9) 8 - - Income tax expense reported in profit or loss (1,289) (139) (1,187) (71) (Unit: Million Baht) For the nine-month periods ended 30 September Consolidated financial statements Separate financial statements 2025 2024 2025 2024 Current income tax: Current income tax charge (677) (450) (290) (259) Adjustment in respect of income tax of previous year 108 - - - Top-up tax (2,421) - (2,421) - Deferred tax: Relating to origination and reversal of temporary differences 147 51 - - Translation adjustment 1 (6) - - Income tax expense reported in profit or loss (2,842) (405) (2,711) (259)
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(Unaudited but reviewed) 15 The Group is within the scope of the Pillar Two model rules published by the Organisation for Economic Co- operation and Development (OECD). The Group operates in several countries where Pillar Two legislation has been enacted and is effective for fiscal years beginning on or after 1 January 2025. The estimated top-up tax expense related to Pillar Two income taxes arises from the operation in Thailand. 14. Earnings per share Basic earnings per share is calculated by dividing profit for the period attributable to equity holders of the Company (excluding other comprehensive income) by the weighted average number of ordinary shares in issue during the period.
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(Unaudited but reviewed) 16 15. Segment information The Group is organised into business units based on their products and services. During the current period, the Group has not changed the organisation of their reportable segments from the last annual financial statements. The following tables present revenue and profit information regarding the Group’s operating segments for the three-month and nine-month periods ended 30 September 2025 and 2024. (Unit: Million Baht) For the three-month periods ended 30 September Power electronics segment Mobility segment Infrastructure segment Automation segment Others Consolidated financial statements 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Revenue Sales from external customers 34,704 23,839 7,524 11,273 8,786 6,168 1,166 1,078 175 - 52,355 42,358 Service income from external customers 112 491 - 91 487 234 137 40 123 11 859 867 Total revenue 34,816 24,330 7,524 11,364 9,273 6,402 1,303 1,118 298 11 53,214 43,225 Segment profit (loss) 6,499 4,777 496 1,044 724 484 (38) 44 (177) (360) 7,504 5,989 Unallocated income (expenses): Gain (loss) on exchange rate 165 (350) Compensation for contract decommitment 1,000 64 Other income 262 297 Impairment loss on assets (115) - Other expenses (125) (6) Finance income 46 85 Finance cost (7) (29) Profit before income tax expenses 8,730 6,050 Income tax expenses (1,289) (139) Profit for the period 7,441 5,911
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(Unaudited but reviewed) 17 (Unit: Million Baht) For the nine-month periods ended 30 September Power electronics segment Mobility segment Infrastructure segment Automation segment Others Consolidated financial statements 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 Revenue Sales from external customers 84,547 66,524 27,232 33,799 22,547 17,709 3,338 2,931 185 38 137,849 121,001 Service income from external customers 174 611 48 158 1,829 997 295 181 245 38 2,591 1,985 Total revenue 84,721 67,135 27,280 33,957 24,376 18,706 3,633 3,112 430 76 140,440 122,986 Segment profit (loss) 17,361 13,260 657 2,757 1,265 702 20 136 (1,001) (1,327) 18,302 15,528 Unallocated income (expenses): Gain on exchange rate 501 259 Compensation for contract decommitment 1,226 593 Other income 565 717 Impairment loss on assets (115) - Other expenses (237) (15) Finance income 196 192 Finance cost (37) (86) Profit before income tax expenses 20,401 17,188 Income tax expenses (2,842) (405) Profit for the period 17,559 16,783
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(Unaudited but reviewed) 18 16. Commitments and contingent liabilities 16.1 Significant capital commitments As at 30 September 2025, the Group had significant capital commitments amounting to Baht 7,837 million, EUR 15 million or approximately Baht 552 million, and INR 5,991 million or approximately Baht 2,184 million in respect of the building construction, purchase of machinery and equipment (the Company only: Baht 7,837 million). 16.2 Significant long-term service commitments 16.2.1 Intellectual Property & Technology License commitments The Company entered into the Intellectual Property & Technology License Agreement with Delta Electronics Inc. (“Licensor”), whereby the Licensor granted the Company the right to manufacture and sell products that apply the Licensor’s patents and technology , including improvements thereof. In consideration for the rights, the Company agrees to pay a royalty to the Licensor at a percentage of revenue from sales of products manufactured under the licenses, with that percentage determined on an arm’s length basis. The percentage is to be amicably reviewed by the parties annually before each anniversary of the effective date, which was 1 January 2018. The agreement matures annually and renews continuously for further periods of one year until terminated by either party. The Company has recorded the related expense as “Royalty expenses”, which are presented under the caption of “Selling and distribution expenses” in the statements of comprehensive income. 16.2.2 Research and development service commitments The Company entered into the research and development service agreements with the subsidiary companies and related companies. Under these agreements , the subsidiary companies and related companies provide research and development services (design and engineering) to the Company and charge fees equal to the local operational costs incurred on product research and development plus a margin, on an arm’s length basis. These agreements mature annually. The Company has recorded the design and engineering fees as “Research and development expenses” in the statements of comprehensive income.
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(Unaudited but reviewed) 19 16.3 Guarantee obligations As at 30 September 2025, the Group had the following significant outstanding letters of guarantee required in the ordinary course of its businesses: 16.3.1 Outstanding letters of guarantee totaling approximately Baht 231 million have been issued by banks to meet requirements of the Company (including a letter of guarantee for approximately Baht 163 million issued by banks to meet obligations of the Company to the Revenue Department in relation to the tax assessment as mentioned in Note 16.4.1 to the financial statements). 16.3.2 Outstanding letters of guarantee for totals of approximately Baht 80 million, INR 1,290 million or approximately Baht 470 million, EUR 0.5 million or approximately Baht 21 million and AUD 4 million or approximately Baht 86 million have been issued by banks to meet requirements of the subsidiaries. 16.4 Tax assessment 16.4.1 a. On 23 August 2017, the Company received tax assessment notices for the year 2007 from the Revenue Department, assessing corporate income tax amounting to approximately Baht 79 million (including penalties and surcharges) and specific business tax amounting to approximately Baht 3 million (including penalties and surcharges). The Company has submitted l etter appealing the assessments to the Tax Appeal Committee of the Revenue Department. b. On 21 August 2018, the Company received tax assessment notices for the year 2008 from the Revenue Department, assessing corporate income tax amounting to approximately Baht 49 million (including penalties and surcharges) and specific business tax amounting to approximately Baht 4 million (including penalties and surcharges). The Company has submitted letter appealing the assessments to the Tax Appeal Committee of the Revenue Department. c. On 20 August 2019, the Company received tax assessment notices for the year 2009 from the Revenue Department, assessing corporate income tax amounting to approximately Baht 23 million (including penalties and surcharges) and specific business tax amounting to approximately Baht 5 million (including penalties and surcharges). The Company has submitted letter appealing the assessments to the Tax Appeal Committee of the Revenue Department.
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(Unaudited but reviewed) 20 However, the Company has recorded provisions for the tax assessments as mentioned in a., b. , and c., with approximately Baht 113 million (including penalties and surcharges) under the caption of “Liabilities and provision from tax assessments” in the statement of financial position. On 1 October 2025, the Tax Appeals Committee dismissed the Company’s lawsuit filed against the Committee, seeking the annulment of the tax assessment by the Revenue Department as mentioned in a., b., and c. As a result, the Company is required to pay a total tax amount, including penalties and surcharges, totaling approximately Baht 122 million to the Revenue Department. On 15 October 2025, the Company completed the payment of this amount. 16.4.2 The Indian tax authorities assessed corporate income tax of approximately INR 232 million or approximately Baht 84 million, covering the years 2007 - 2016, and sales tax and excise duties of approximately INR 172 million or approximately Baht 63 million, covering the years 2014 - 2025, against the subsidiary in India. The subsidiary has appealed the assessments. The management of the subsidiary believes that the outcome of the cases will be favorable to the subsidiary and therefore no provision for these contingent liabilities have been made in the accounts. 16.5 Litigation During the year 2024, the United States International Trade Commission (ITC) investigated into the Group for alleged infringement of Vicor Corporation’s patents according to a complaint filed by Vicor Corporation. The ITC completed the investigation and issued a final determination on 13 February 2025 finding that Vicor's patent infringement claim had partial merit. Vicor Corporation also filed a lawsuit (“Lawsuit”) against Delta Electronics Inc. (the parent company) and certain customers of the Company with the U.S. District Court for the Eastern District of Texas in parallel with the filing of a complaint with the I TC, as mentioned above, alleging infringement of Vicor Corporation’s patents. To resolve this patent dispute, the parent company engaged in negotiations and entered into a settlement agreement with Vicor Corporation. Under the settlement agreement, the Company is responsible for making certain payments on behalf of its customers as their indemnitor. Pursuant to the settlement agreement, the court issued an order dismissing the case with prejudice on 10 May 2025, thus precluding any refiling of the same cas e. Accordingly, the Lawsuit is considered fully resolved. The Company recorded the payment on behalf of its customers during the second quarter during the current year . The management of the Company believes that no further losses resulting from this Lawsuit will arise.
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(Unaudited but reviewed) 21 17. Financial instruments 17.1 Fair value of financial instruments Since the majority of the Group’s financial instruments are short -term in nature or carrying interest at rates close to the market interest rates, its fair value is not expected to be materially different from the amounts presented in the statement of financial position. 17.2 Fair value hierarchy As at 30 September 2025, the Group had the financial assets and financial liabilities that were measured at fair value using different levels of inputs as follows: (Unit: Million Baht) Consolidated financial statements Level 1 Level 2 Level 3 Total Assets measured at fair value Derivatives Foreign currency forward contracts - 120 - 120 Liabilities measured at fair value Derivatives Foreign currency forward contracts - 43 - 43 (Unit: Million Baht) Separate financial statements Level 1 Level 2 Level 3 Total Assets measured at fair value Derivatives Foreign currency forward contracts - 120 - 120 Liabilities measured at fair value Derivatives Foreign currency forward contracts - 42 - 42 During the current period, there were no changes in the methods and the assumptions used to estimate the fair value of financial instruments and there were no transfers between the levels of the fair value hierarchy.
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(Unaudited but reviewed) 22 18. Foreign currency risk and financial derivatives As at 30 September 2025, the significant outstanding balances of the Group’s financial assets and financial liabilities denominated in foreign currencies are as follows: (Unit: Million foreign currency unit) Foreign Consolidated financial statements Separate financial statements currency Financial assets Financial liabilities Financial assets Financial liabilities US dollar 1,644 981 1,542 782 Euro 13 26 9 25 Japanese yen 575 1,099 175 611 (Unit: Baht per 1 foreign currency unit) Foreign currency Average exchange rate as at 30 September 2025 US dollar 32.2993 Euro 37.8416 Japanese yen 0.2172 The Group manages its exposure to foreign currency risk by using derivatives when considered appropriate. As at 30 September 2025, the outstanding derivatives for managing the exposure to foreign currency risk are as follows: Consolidated financial statements Amount Forward rate Maturity date Forward contracts to “Sell” USD/THB USD 724 million 31.3800 - 32.6940 THB/USD October 2025 - February 2026 Forward contracts to “Buy” USD/INR USD 5 million 87.8525 - 88.8950 INR/USD October - November 2025 JPY/THB JPY 150 million 0.2172 - 0.2215 THB/JPY October - November 2025 Separate financial statements Amount Forward rate Maturity date Forward contracts to “Sell” USD/THB USD 724 million 31.3800 - 32.6940 THB/USD October 2025 - February 2026 Forward contracts to “Buy” JPY/THB JPY 150 million 0.2172 - 0.2215 THB/JPY October - November 2025
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(Unaudited but reviewed) 23 19. Approval of interim financial statements These interim financial statements were authorised for issue by the Company’s Board of Directors on 24 October 2025.