Delta Electronics Thailand : Financial Statement Quarter 1 / 2026

About this update from Delta Electronics (thailand) Public Co. Ltd.

‌Delta Electronics (Thailand) Public Company Limited and its subsidiaries Review report and consolidated and separate financial information For the three-month period ended 31 March 2026 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 31 March 2026, the related consolidated statements of comprehensive income, changes in shareholders' equity and cash flows for the three-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 period (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 the standards as applicable to auditing issued by the Federation of Accounting Professions 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: 27 April 2026 ‌Consolidated financial statements‌ 31 March 2026 31 December 2025 (Unaudited (Audited) but reviewed) (Restated) (Unit: Thousand Baht) Separate financial statements 31 March 2026 31 December 2025 (Unaudited (Audited) but reviewed) 3 2 4 16.2 5 19,051,948 20,328,245 13,715,671 13,033,536 56,957,498 45,966,183 63,400,212 51,408,424 13,000 7,000 - - 42,689,855 34,731,293 29,973,456 23,748,507 25,515 399,353 17,689 399,154 2,691,956 2,718,954 1,352,077 1,221,542 121,429,772 104,151,028 108,459,105 89,811,163 Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statements of financial position As at 31 March 2026 Assets Current assets Cash and cash equivalents Trade and other current receivables Short-term loans to related party Inventories Derivative assets Other current assets Total current assets Non-current assets Deposits at bank with restrictions Investments in subsidiary companies Investments in associated companies Investment properties Property, plant and equipment Advances to contractors and for acquisitions of assets Right-of-use assets Goodwill Other intangible assets Deferred tax assets Other non-current assets Total non-current assets Total assets 375,733 - 4,317 148,491 47,713,899 395,377 - 2,857 155,566 45,687,806 - 22,461,224 2,000 - 33,609,666 - 22,461,224 2,000 - 31,741,626 6 7 2,586,424 1,666,279 2,418,522 1,666,279 472,502 471,410 92,622 79,470 214,731 418,194 - - 99,297 106,546 36,050 37,945 567,162 639,360 - - 597,477 514,617 59,593 45,310 52,780,033 50,058,012 58,679,677 56,033,854 174,209,805 154,209,040 167,138,782 145,845,017 The accompanying notes are an integral part of the interim financial statements. Consolidated financial statements 31 March 2026 31 December 2025 (Unaudited (Audited) but reviewed) (Restated) (Unit: Thousand Baht) Separate financial statements 31 March 2026 31 December 2025 (Unaudited (Audited) but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statements of financial position (continued) As at 31 March 2026 Liabilities and shareholders' equity Current liabilities Short-term loans from financial institutions Trade and other current payables Current portion of long-term loans from financial institutions Current portion of lease liabilities Income tax payable Provision for top-up tax Other current provisions Derivative liabilities Other current liabilities Total current liabilities Non-current liabilities Long-term loans from financial institutions, net of current portion Long-term loans from related parties Lease liabilities, net of current portion Non-current provision for employee benefits Other non-current provisions Deferred tax liabilities Other non-current liabilities Total non-current liabilities Total liabilities 270,000 53,485,359 140,000 45,230,380 - 47,802,338 - 38,632,339 8 12 11 16.2 9 165,141 171,255 - - 127,195 117,203 39,885 31,854 575,313 521,262 393,103 286,110 4,720,626 3,437,883 4,720,626 3,437,883 473,735 497,708 471,151 487,763 914,316 26,107 914,316 25,258 1,829,026 2,129,083 1,356,199 1,650,190 62,560,711 52,270,881 55,697,618 44,551,397 180,695 194,116 - - 602,278 706,246 - - 130,922 136,933 51,726 46,742 1,703,693 1,667,455 887,014 870,587 1,674,524 1,502,107 1,411,811 1,248,945 252,443 327,984 - - 589,951 603,163 186,636 211,301 5,134,506 5,138,004 2,537,187 2,377,575 67,695,217 57,408,885 58,234,805 46,928,972 2 10 11 The accompanying notes are an integral part of the interim financial statements. Consolidated financial statements 31 March 2026 31 December 2025 (Unaudited (Audited) but reviewed) (Restated) Shareholders' equity Share capital Registered 12,590,000,000 ordinary shares of Baht 0.1 each Issued and fully paid 12,473,816,140 ordinary shares of Baht 0.1 each Share premium Difference from business combination under common control Retained earnings Appropriated - Statutory reserve Unappropriated Other components of shareholders' equity Equity attributable to owners of the Company Equity attributable to shareholders of subsidiary before business combination under common control Total shareholders' equity Total liabilities and shareholders' equity Note 6.2.1 (Unit: Thousand Baht) Separate financial statements 31 March 2026 31 December 2025 (Unaudited (Audited) but reviewed) 1,259,000 1,259,000 1,259,000 1,259,000 1,247,382 1,491,912 1,247,382 1,491,912 1,247,382 1,491,912 1,247,382 1,491,912 (1,361,184) (1,339,694) - - 125,900 109,936,670 (4,926,092) 106,514,588 125,900 100,855,494 (5,654,087) 96,726,907 125,900 106,038,783 - 108,903,977 125,900 96,050,851 - 98,916,045 - 73,248 - - 106,514,588 96,800,155 108,903,977 98,916,045 174,209,805 154,209,040 167,138,782 145,845,017 - - - - The accompanying notes are an integral part of the interim financial statements. Directors ‌Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statements of comprehensive income For the three-month period ended 31 March 2026 (Unit: Thousand Baht, except basic earnings per share expressed in Baht) Consolidated financial statements Separate finan cial statements 2026 2025 2026 2025 (Restated) 60,458,937 41,900,990 56, 927,785 849,222 (41,286,383) (31,251,635) (37, (634,626) (566,889) 19,465,713 10,931,688 19, 318,056 437,507 379,172 65,485 261,334 - 162,795 173,137 (6,904,575) (3,139,887) (6, (957,833) (813,610) ( (1,912,734) (1,276,839) (1, (245,376) - ( (207,213) - (11,352) (148,776) 10,347,987 6,228,705 11, 1,460 89 103,558 63,687 (8,583) (18,486) 10,444,422 6,273,995 11, (1,363,246) (784,057) (1, 9,081,176 5,489,938 9, Note Profit or loss: Sales Service income Cost of sales Cost of services Gross profit Gain on exchange Compensation for contract decommitment Royalty income Other income Selling and distribution expenses Administrative expenses Research and development expenses Impairment loss on assets Impairment loss on goodwill Other expenses Operating profit Share of profit from investments in associates Finance income Finance cost Profit before income tax expenses Income tax expenses Profit for the period 894,217 95,846 590,617) (86,686) 312,760 416,467 379,172 2 261,334 114,849 15.2.1 486,909) 496,127) 15.2.2 957,624) 245,376) - (9,881) 288,665 - 85,357 (634) 373,388 12 385,456) 987,932 37,497,456 67,621 (27,411,135) (25,750) 10,128,192 450,480 57,896 - 120,816 (2,745,597) (381,726) (1,206,769) - - (18,136) 6,405,156 - 34,439 (120) 6,439,475 (862,187) 5,577,288 The accompanying notes are an integral part of the interim financial statements. Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statements of comprehensive income (continued) For the three-month period ended 31 March 2026 (Unit: Thousand Baht, except basic earnings per share expressed in Baht) Consolidated financial statements Separate finan cial statements 2026 2025 2026 2025 (Restated) Note 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 Other comprehensive income to be reclassified to profit or loss in subsequent periods Other comprehensive income for the period 727,995 146,416 - - - - 727,995 146,416 - 727,995 146,416 - Total comprehensive income for the period 9,809,171 5,636,354 9,987,932 5,577,288 Profit attributable to: Equity holders of the Company Shareholders of subsidiary before business combination under common control 9,081,176 5,488,126 9,987,932 5,577,288 6.2.1 - 1,812 9,081,176 5,489,938 Total comprehensive income attributable to: Equity holders of the Company Shareholders of subsidiary before business combination under common control 9,809,171 5,634,542 9,987,932 5,577,288 6.2.1 - 1,812 9,809,171 5,636,354 Earnings per share 13 Basic earnings per share Profit attributable to equity holders of the Company 0.73 0.44 0.80 0.45 The accompanying notes are an integral part of the interim financial statements. ‌(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statements of changes in shareholders' equity For the three-month period ended 31 March 2026 (Unit: Thousand Baht) Consolidated financial statements Equity attributable to shareholders of the Company Other components of shareholders' equity Equity attributable Other comprehensive income to shareholders of Exchange differences Total equity subsidiary before Issued and Difference from business on translation of Total other attributable to business Total fully paid combination under Retained earnings financial statements components of owners of combination under shareholders' share capital Share premium common control Appropriated Unappropriated in foreign currency shareholders' equity the Company common control equity 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 - 79,941,813 Cumulative effect of business combination under common control (Note 6.2.1) - - - - - - - - 76,375 76,375 Balance as at 1 January 2025 - as restated 1,247,382 1,491,912 (1,339,694) 125,900 81,834,974 (3,418,661) (3,418,661) 79,941,813 76,375 80,018,188 Profit for the period - restated - - - - 5,488,126 - - 5,488,126 1,812 5,489,938 Other comprehensive income for the period - restated - - - - - 146,416 146,416 146,416 - 146,416 Total comprehensive income for the period - restated - - - - 5,488,126 146,416 146,416 5,634,542 1,812 5,636,354 Balance as at 31 March 2025 - as restated 1,247,382 1,491,912 (1,339,694) 125,900 87,323,100 (3,272,245) (3,272,245) 85,576,355 78,187 85,654,542 - The accompanying notes are an integral part of the interim financial statements. ‌(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statements of changes in shareholders' equity (continued) For the three-month period ended 31 March 2026 (Unit: Thousand Baht) Consolidated financial statements Equity attributable to shareholders of the Company Other components of shareholders' equity Equity attributable Other comprehensive income to shareholders of Exchange differences Total equity subsidiary before Issued and Difference from business on translation of Total other attributable to business Total fully paid combination under Retained earnings financial statements components of owners of combination under shareholders' share capital Share premium common control Appropriated Unappropriated in foreign currency shareholders' equity the Company common control equity Balance as at 1 January 2026 1,247,382 1,491,912 (1,339,694) 125,900 100,855,494 (5,654,087) (5,654,087) 96,726,907 - 96,726,907 Cumulative effect of business combination under common control (Note 6.2.1) - - - - - - - - 73,248 73,248 Balance as at 1 January 2026 - as restated 1,247,382 1,491,912 (1,339,694) 125,900 100,855,494 (5,654,087) (5,654,087) 96,726,907 73,248 96,800,155 Profit for the period - - - - 9,081,176 - - 9,081,176 - 9,081,176 Other comprehensive income for the period - - - - - 727,995 727,995 727,995 - 727,995 Total comprehensive income for the period - - - - 9,081,176 727,995 727,995 9,809,171 - 9,809,171 Acquisition cost of business combination under common control (Note 6.2.1) - - (94,738) - - - - (94,738) - (94,738) Attributable net book value from business combination under common control (Note 6.2.1) - - 73,248 - - - - 73,248 (73,248) - Balance as at 31 March 2026 1,247,382 1,491,912 (1,361,184) 125,900 109,936,670 (4,926,092) (4,926,092) 106,514,588 - 106,514,588 - The accompanying notes are an integral part of the interim financial statements. ‌(Unaudited but reviewed) Delta Electronics (Thailand) Public Company Limited and its subsidiaries Statements of changes in shareholders' equity (continued) For the three-month period ended 31 March 2026 Balance as at 1 January 2025 Profit for the period Other comprehensive income for the period Total comprehensive income for the period Balance as at 31 March 2025 Separate financial statements (U nit: Thousand Baht) Issued and Total fully paid Retained earnings shareholders' share capital Share premium Appropriated Unappropriated equity 1,247,382 1,491,912 125,900 77,385,591 80,250,785 - - - 5,577,288 5,577,288 - - - - - - - - 5,577,288 5,577,288 1,247,382 1,491,912 125,900 82,962,879 85,828,073 Balance as at 1 January 2026 Profit for the period Other comprehensive income for the period Total comprehensive income for the period Balance as at 31 March 2026 1,247,382 1,491,912 125,900 96,050,851 98,916,045 - - - 9,987,932 9,987,932 - - - - - - - - 9,987,932 9,987,932 1,247,382 1,491,912 125,900 106,038,783 108,903,977 - The accompanying notes are an integral part of the interim financial statements. ‌Delta Electronics (Thailand) Public Company Limited and its subsidiaries Cash flow statements For the three-month period ended 31 March 2026 Consolidated financial statements 2026 2025 (Restated) (Unit: Thousand Baht) Separate financial statements 2026 2025 Cash flows from operating activities: Profit before tax Adjustments to reconcile profit before tax to net cash provided by (paid from) operating activities: Depreciation Amortisation Recording of allowance for expected credit losses (reversal) Reduction of inventory to net realisable value Reversal of the reduction to net realisable value of the written-off obsolete and damaged inventories Provisions Provision for employee benefits (Gain) loss from disposal/writte-off of property, plant and equipment Impairment loss on assets Impairment loss on goodwill Loss from write-off of other intangible assets Share of profit from investments in associates Unrealised gain on exchange (Gain) loss on fair value valuation of derivative instruments Finance income Finance cost Profit from operating activities before changes in operating assets and liabilities Decrease (increase) in operating assets: Trade and other current receivables Inventories Other current assets Other non-current assets Increase (decrease) in operating liabilities: Trade and other current payables Other current liabilities Cash paid for provisions Cash paid for employee benefits Other non-current liabilities Cash flows from operating activities Cash received from interest income Cash paid for interest expenses Cash paid for corporate income tax Net cash flows from operating activities The accompanying notes are an integral part of the interim financial statements. 10,444,422 6,273,995 11,373,388 6,439,475 2,309,736 14,651 3,732 339,981 1,859,567 15,570 (21,300) 468,939 1,908,483 2,551 (24,691) 216,820 1,482,079 2,567 (22,209) 213,995 (189,511) 144,530 75,543 (2,342) 245,376 207,213 368 (1,460) (1,691,896) 1,262,047 (103,558) 8,583 (193,743) 171,388 42,045 (4,191) - - 535 (89) (408,819) (218,371) (63,687) 18,486 (165,752) 136,767 27,159 (1,229) 245,376 - - - (1,648,305) 1,270,523 (85,357) 634 (158,124) 136,038 22,868 2,379 - - - - (391,816) (218,053) (34,439) 120 13,067,415 7,940,325 13,256,367 7,474,880 (7,851,916) (8,118,618) (12,405) (34,461) (3,876,190) 467,482 (105,301) (271,112) (8,897,033) (6,276,017) (139,846) (14,282) (4,372,524) 1,145,481 (123,100) (9,420) 6,443,575 450,446 7, (330,201) (29,448) (52,975) (21,939) (26,726) (133,322) (13,212) 143,195 3,070,476 4,564,136 4, 52,247 37,829 (5,594) (15,441) (100,609) (86,938) 3,016,520 4,499,586 4, 659,670 (82,921) (89,124) (6,684) 105,831 4,702,089 6,262 - (151) 4,708,200 292,000 (314,703) (3,360) (10,732) (24,665) 867,729 27,415 - (36,273) 858,871 Delta Electronics (Thailand) Public Company Limited and its subsidiaries Cash flow statements (continued) For the three-month period ended 31 March 2026 Consolidated financial statements 2026 2025 (Restated) (Unit: Thousand Baht) Separate financial statements 2026 2025 Supplemental disclosures of cash flows information Non-cash transaction Additions to right-of-use assets and lease liabilities Increase in others payable from purchase of plant and equipment Transfer from investment properties to property and plant 33,335 2,860,708 5,802 57,901 1,200,952 - 22,913 2,747,779 - - 1,184,504 - Cash flows from investing activities: (Increase) decrease in deposits at bank with restrictions Increase in short-term loans to related party Increase in investments in associated companies Net cash paid for purchase of investment in subsidiary under common control Increase in advances to contractors and for acquisitions of assets Acquisition of property, plant and equipment Cash paid to others payable for purchase of plant and equipment Proceeds from disposal of plant and equipment Acquisition of investment properties Acquisition of other intangible assets Net cash flows used in investing activities Cash flow from financing activities: Cash receipt from short-term loans from financial institutions Repayment of short-term loans from financial institutions Repayment of long-term loans from financial institutions Repayment of long-term loans from related party Repayment of liabilities under lease agreements Net cash flow used in financing activities Increase in translation adjustments Net increase (decrease) in cash and cash equivalents before effect from currency translation Effect from currency translation of cash and cash equivalents Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 19,644 (6,000) - (1,181) - (500) - - - - - (500) 130,000 51,116 - - - (90,316) - - (24,660) - - - (112,927) - - - (34,603) (31,664) (10,531) (8,724) (42,190) (70,864) (10,531) (8,724) 776,801 124,350 - - (1,507,183) 1,386,813 457,013 2,330,320 230,886 56,014 225,122 52,809 (1,276,297) 1,442,827 682,135 2,383,129 20,328,245 15,784,568 13,033,536 9,790,790 19,051,948 17,227,395 13,715,671 12,173,919 - - - - (54,568) - - - (920,145) (74,766) (752,243) (97,714) (1,683,594) (1,875,180) (1,265,595) (1,086,003) (2,616,419) (1,225,849) (2,375,298) (1,183,499) 9,212 18,799 2,465 - (238) (1,049) - - (6,206) (6,533) (656) (1,440) (5,258,314) (3,166,259) (4,391,327) (2,369,156) The accompanying notes are an integral part of the interim financial statements. ‌Delta Electronics (Thailand) Public Company Limited and its subsidiaries Condensed notes to interim financial statements For the three-month period ended 31 March 2026 General information 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 presenting 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 reported. 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. Basis of consolidation The interim consolidated financial statements include the financial statements of Delta Electronics (Thailand) Public Company Limited ("the Company") and its subsidiaries ("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 2025. However, during the current period, there were changes in the composition of the Group as described in Note 6.2 to the financial statements. 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 2025. The revised financial reporting standards which are effective for fiscal years beginning on or after 1 January 2026, do not have any significant impact on the Group's financial statements. 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 31 March Consolidated financial statements Separate financial statements 2026 2025 2026 2025 Transactions with the parent company Sales of goods and raw materials 551 486 549 485 Purchase of goods and raw materials 728 128 229 3 Purchase of equipment 221 158 116 53 Royalty paid (Note 15.2.1) 3,783 1,860 3,783 1,860 Services paid 38 6 38 6 Transactions with subsidiary companies (eliminated from the consolidated financial statements) Sales of goods and raw materials - - 25,013 12,592 Purchase of goods and raw materials - - 422 289 Purchase of equipment - - 147 101 Commission paid - - 134 162 Design and engineering fee paid (Note 15.2.2) - - 662 349 Transactions with associated companies Purchase of goods and raw materials 116 60 116 60 Transactions with related companies Sales of goods and raw materials 6,450 5,373 3,783 2,791 Purchase of goods and raw materials 3,170 2,331 2,320 1,290 Purchase of equipment 1,374 428 1,300 401 Commission received 127 92 - - Services income 37 83 - - Royalty income 261 - 261 - Commission paid 453 291 447 280 Design and engineering fee paid (Note 15.2.2) 551 340 540 327 The balances of the accounts between the Group and those related companies are as follows: (Unit: Million Baht) Consolidated financial statements Separate financial statements 31 March 2026 31 December 2025 31 March 2026 31 December 2025 (Audited) (Audited) Trade receivables - related parties (Note 3) Parent company 492 1,075 483 1,053 Subsidiary companies - - 32,795 28,534 Related companies (common shareholders) 7,622 7,382 4,389 4,047 Total trade receivables - related parties 8,114 8,457 37,667 33,634 Other current receivables - related parties (Note 3) Subsidiary companies - - 13 11 Related companies (common shareholders) 106 272 106 260 Total other current receivables - related parties 106 272 119 271 Amounts due from related parties (Note 3) Subsidiary companies - - 1 1 Total amounts due from related parties - - 1 1 Trade payables - related parties (Note 8) Parent company 707 646 140 318 Subsidiary companies - - 492 405 Associated companies 28 31 28 31 Related companies (common shareholders) 3,746 3,123 2,344 1,570 Total trade payables - related parties 4,481 3,800 3,004 2,324 Other current payables - related parties (Note 8) Parent company 2,181 1,278 2,069 1,269 Subsidiary companies - - 560 442 Related companies (common shareholders) 2,007 1,722 1,955 1,722 Total other current payables - related parties 4,188 3,000 4,584 3,433 Accrued expenses - related parties (Note 8) Parent company 848 361 848 361 Related companies (common shareholders) 6 165 - 159 Total accrued expenses - related parties 854 526 848 520 Short-term loans to related party (Unit: Million Baht) Consolidated financial statements Short-term loans Balance as at 1 January 2026 Increase during the period Balance as at 31 March 2026 (Restated) Related company (common shareholders) - ACT Genomics (Thailand) Company Limited 7 6 13 Total short-term loan to related party 7 6 13 Short-term loan to ACT Genomics (Thailand) Company Limited, carries interest at a rate of 2.80 percent per annum, payable every three months. The principal amount is due for repayment within 1 year from the date the loan is granted. Long-term loans from related parties (Unit: Million Baht) Consolidated financial statements Long-term loans Balance as at 1 January 2026 Repayment during the period Translation adjustment Balance as at 31 March 2026 Related company (common shareholders) - Eltek AS 334 (113) 5 226 - Delta International Holding Limited B.V. 372 - 4 376 Total long-term loans from related parties 706 (113) 9 602 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. The principal repayments of EUR 6 million, or approximately Baht 226 million is scheduled for October 2027. 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 376 million is scheduled for August 2029. Directors and management's benefits (Unit: Million Baht) For the three-month periods ended 31 March Consolidated financial statements Separate financial statements 2026 2025 2026 2025 Short-term employee benefits 58 49 41 31 Post-employment benefits 5 3 4 3 Total 63 52 45 34 Trade and other current receivables (Unit: Million Baht) Consolidated financial statements Separate financial statements 31 March 2026 31 December 2025 31 March 2026 31 December 2025 (Audited) (Audited) (Restated) Trade receivables, related parties (Note 2) Aged on the basis of due dates Not yet due 7,406 8,074 35,939 31,690 Past due Up to 3 months 680 366 990 1,923 3 - 6 months 16 8 723 10 6 - 12 months 11 8 14 10 Over 12 months 1 1 1 1 Total 8,114 8,457 37,667 33,634 Trade receivables, unrelated parties Aged on the basis of due dates Not yet due 43,002 31,206 21,910 14,470 Past due Up to 3 months 3,433 4,224 1,730 1,571 3 - 6 months 323 243 103 160 6 - 12 months 88 43 64 6 Over 12 months 43 42 1 - Total 46,889 35,758 23,808 16,207 Total trade receivables 55,003 44,215 61,475 49,841 Less: Allowance for expected credit losses (298) (297) (154) (179) Total trade receivables - net 54,705 43,918 61,321 49,662 (Unit: Million Baht) Consolidated financial statements Separate financial statements 31 March 2026 31 December 2025 31 March 2026 31 December 2025 (Audited) (Audited) (Restated) Other current receivables Amounts due from related parties (Note 2) - - 1 1 Other current receivables - related parties (Note 2) 106 272 119 271 Other current receivables - unrelated parties 2,088 1,775 1,901 1,474 Interest receivables - unrelated parties 58 1 58 - Total other current receivables 2,252 2,048 2,079 1,746 Trade and other current receivables - net 56,957 45,966 63,400 51,408 Inventories (Unit: Million Baht) Consolidated financial statements Separate financial statements 31 March 2026 31 December 2025 31 March 2026 31 December 2025 (Audited) (Audited) Inventories - cost 47,646 39,526 32,617 26,342 Reduce cost to net realisable value (4,956) (4,795) (2,644) (2,593) Inventories - net 42,690 34,731 29,973 23,749 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 2026 (4,795) (2,593) Increase during the period (424) (217) Reversal of the reduction to net realisable value of the written off obsolete and damaged inventories during the period 190 166 Reversal during the period 84 - Translation adjustment (11) - Balance as at 31 March 2026 (4,956) (2,644) Other current assets (Unit: Million Baht) Consolidated financial statements Separate financial statements 31 March 2026 31 December 2025 31 March 2026 31 December 2025 (Audited) (Audited) (Restated) Input tax refundable 1,998 1,820 1,183 1,138 Advance payments 165 311 22 5 Prepaid expenses 400 481 87 58 Prepaid tax 55 69 - - Others 74 38 60 21 Total other current assets 2,692 2,719 1,352 1,222 Investments in subsidiaries Details of investments in subsidiaries as presented in separate financial statements (Unit: Million Baht) Company's name Paid-up capital Cost Foreign currency 31 March 2026 31 December 2025 31 March 2026 31 December 2025 (Million) (Million) (Audited) DET International Holding B.V. USD 288 288 10,249 10,249 Delta Green Industrial (Thailand) Company Limited THB 206 206 206 206 Delta Energy Systems (Singapore) Pte. Ltd. USD 345 345 11,560 11,560 Delta Electronics (Vietnam) Company Limited USD 0.1 0.1 3 3 Delta Electronics India Manufacturing Private Limited INR 4,153 4,153 1,739 1,739 PT Delta Electronics Indonesia IDR 10,000 10,000 21 21 Delta Electronics Philippines Inc. PHP 12 12 7 7 Subtotal 23,785 23,785 Less: Allowance for impairment loss of investments in subsidiaries (1,324) (1,324) Total investments in subsidiaries - net 22,461 22,461 No dividend was received from the above subsidiaries during the three-month periods ended 31 March 2026 and 2025. Significant events during the current period Subsidiaries directly owned by the Company Purchase of investment in the subsidiary On 1 January 2026, Delta Electronics Int'l (Singapore) Pte. Ltd. (the Company's major shareholder) sold its 100% interest in Eltek Power Company Limited to two subsidiary companies: (1) 99.9975% to Delta Green Industrial (Thailand) Co., Ltd. and (2) 0.0025% to Delta Energy Systems (Singapore) Pte. Ltd. for a total consideration of approximately Baht 94.7 million. Both subsidiaries completed the payment for this investment on 22 January 2026. The above purchase of investment in the subsidiary is considered to be a business combination under common control. The difference between the cost of this business combination under common control and the net book value of the assets of Eltek Power Company Limited, amounting to approximately Baht 21.5 million, was therefore recorded as "Difference from business combination under common control" and separately presented in the consolidated statements of changes in shareholders' equity. The net book values of assets and liabilities as at 1 January 2026 (acquisition date) and the cash payment made to purchase the investment in Eltek Power Company Limited are as follows: (Unit: Million Baht) Consolidated financial statements Net book values of assets and liabilities as at the acquisition date Cash and cash equivalents 40.2 Trade and other current receivables 29.7 Short-term loans to related party 7.0 Other current assets 0.4 Other non-current assets 0.8 Trade and other current payables (1.9) Other current liabilities (0.2) Non-current provision for employee benefits (2.8) Total net assets 73.2 Plus: Difference from business combination under common control 21.5 Cash payment for purchase of investment in subsidiary 94.7 Less: Cash and cash equivalents of the subsidiary (40.2) Net cash paid for purchase of investment in subsidiary 54.5 As the acquisition of Eltek Power Company Limited is a business combination under common control, the Company has treated Eltek Power Company Limited as if it had been a subsidiary of the Company since it was established. Accordingly, the Company has accordingly restated the consolidated statements of financial position as at 31 December 2025, and the related consolidated statements of comprehensive income, changes in shareholders' equity and cash flows for the three-month period ended 31 March 2025 for comparative purposes. The amounts of restatement affecting the consolidated statements of financial position as at 31 December 2025 were summarised below. (Unit: Million Baht) Consolidated financial statements Increase from restatement Assets Cash and cash equivalents 40.2 Trade and other current receivables 29.7 Short-term loans to related party 7.0 Other current assets 0.4 Other non-current assets 0.8 Liabilities Trade and other current payables 1.9 Other current liabilities 0.2 Non-current provision for employee benefits 2.8 Shareholders' equity Equity attributable to shareholders of subsidiary before business combination under common control 73.2 The amounts of restatement affecting the consolidated statements of comprehensive income for the three-month period ended 31 March 2025 were summarised below. (Unit: Million Baht) Consolidated financial statements Increase (decrease) from restatement Profit or loss: Sales 14.4 Cost of sales (9.6) Gross profit 4.8 Selling and distribution expenses (2.7) Administrative expenses (0.7) Income tax 0.4 Profit for the period 1.8 Other comprehensive income: Other comprehensive income for the period - Total comprehensive income for the period 1.8 Profit attributable to: Shareholders of subsidiary before business combination under common control 1.8 Total comprehensive income attributable to: Shareholders of subsidiary before business combination under common control 1.8 The amounts of restatement affecting the consolidated statements of cash flows for the three-month period ended 31 March 2025 were summarised below. (Unit: Million Baht) Consolidated financial statements Increase (decrease) from restatement Net cash flows from operating activities 17.7 Net cash flows used in investing activities (0.9) Subsidiaries indirectly owned by the Company Dissolution of a subsidiary companies Delta Energy Systems (India) Pvt. Ltd., a subsidiary indirectly held 100% by the Company, has registered its dissolution and completed the liquidation process. It is currently undergoing the final legal formalities required under Indian regulations. Delta Electronics (Hungary) Kft., a subsidiary 100% indirectly held by the Company, registered its dissolution and completed the liquidation process in the current quarter. Additional investment in subsidiary company On 13 February 2026, a meeting of the Company's Board of Directors approved an additional investment by Delta Energy Systems (Germany) GmbH, a subsidiary indirectly held by the Company, in Delta Energy Systems Mobility (Germany) GmbH by EUR 15.5 million, or approximately Baht 583 million, for the purpose of supporting capital expenditures and providing working capital for business operations. The company made this additional investment during the current quarter. The above additional investment had no impact on the investment structure of the Group. 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 2026 45,688 31,742 Acquisitions during period - cost 4,545 4,014 Transfers from investment properties - net book value 6 - Disposals/write-off during period - net book value at disposal/write-off date (7) - Depreciation for the period (2,274) (1,901) Impairment loss during the period (245) (245) Translation adjustment 1 - Net book value as at 31 March 2026 47,714 33,610 ‌Trade and other current payables (Unit: Million Baht) Consolidated financial statements Separate financial statements 31 March 2026 31 December 2025 31 March 2026 31 December 2025 (Audited) (Audited) (Restated) Trade payables - related parties (Note 2) 4,481 3,800 3,004 2,324 Trade payables - unrelated parties 33,509 27,916 31,188 25,600 Other current payables - related parties (Note 2) 4,188 3,000 4,584 3,433 Other current payables - unrelated parties 3,430 3,282 3,123 2,467 Accrued expenses - related parties (Note 2) 854 526 848 520 Accrued expenses - unrelated parties 4,900 4,231 3,961 3,084 Advance received - unrelated parties 2,123 2,475 1,094 1,204 Total trade and other current payables 53,485 45,230 47,802 38,632 ‌Other current liabilities (Unit: Million Baht) Consolidated financial statements Separate financial statements 31 March 2026 31 December 2025 31 March 2026 31 December 2025 (Audited) (Audited) (Restated) Withholding tax payable 245 493 138 432 Value added tax payable 289 186 69 30 Advance received from compensation for contract decommitment 241 339 241 339 Construction retention 834 794 834 794 Others 220 317 74 55 Total other current liabilities 1,829 2,129 1,356 1,650 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 2026 - as restated (1,667) (871) Recognition during the period (76) (27) Paid during the period 27 11 Translation adjustment 12 - Balance as at 31 March 2026 (1,704) (887) Provisions (Unit: Million Baht) Consolidated financial statements Separate financial statements Other Warranty provisions Total Warranty Total Balance as at 1 January 2026 1,991 9 2,000 1,737 1,737 Recognition during the period 203 14 217 144 144 Paid during the period (36) (17) (53) (3) (3) Reversal during the period (65) (7) (72) (7) (7) Translation adjustment/unrealised loss on exchange rate 53 4 57 12 12 Balance as at 31 March 2026 2,146 3 2,149 1,883 1,883 Other current provisions 489 9 498 488 488 Other non-current provisions 1,502 - 1,502 1,249 1,249 Balance as at 31 December 2025 (Audited) 1,991 9 2,000 1,737 1,737 Other current provisions 471 3 474 471 471 Other non-current provisions 1,675 - 1,675 1,412 1,412 Balance as at 31 March 2026 2,146 3 2,149 1,883 1,883 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. 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 periods ended 31 March 2026 and 2025 are made up as follows: (Unit: Million Baht) For the three-month periods ended 31 March Consolidated financial statements Separate financial statements 2026 2025 2026 2025 (Restated) Current income tax: Interim corporate income tax charge (121) (164) (102) (77) Adjustment in respect of income tax of previous year 39 108 - - Top-up tax (1,283) (785) (1,283) (785) Deferred tax: Relating to origination and reversal of temporary differences 3 54 - - Translation adjustment (1) 3 - - Income tax expense reported in profit or loss (1,363) (784) (1,385) (862) 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 currently effective. The estimated top-up tax expense related to Pillar Two income taxes arises from the operation in Thailand. 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. (Unaudited but reviewed) 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 periods ended 31 March 2026 and 2025. (Unit: Million Baht) For the three-month periods ended 31 March 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 (Restated) (Restated) Revenue Sales from external customers 43,843 24,877 5,593 9,798 9,746 6,154 1,261 1,069 16 3 60,459 41,901 Service income from external customers 99 23 119 14 260 729 117 52 333 31 928 849 Total revenue 43,942 24,900 5,712 9,812 10,006 6,883 1,378 1,121 349 34 61,387 42,750 Segment profit (loss) 9,570 5,772 (484) 32 927 209 15 44 (338) (356) 9,690 5,701 Unallocated income (expenses): Gain on exchange rate 318 438 Compensation for contract decommitment 379 65 Royalty income 261 - Other income 163 173 Impairment loss on assets (245) - Impairment loss on goodwill (207) - Other expenses (11) (149) Share of profit from investments in associates 1 - Finance income 104 64 Finance cost (9) (18) Profit before income tax expenses 10,444 6,274 Income tax expenses (1,363) (784) Profit for the period 9,081 5,490 Power electronics segment Mobility segment Infrastructure segment Automation segment Others Consolidated financial statements Commitments and contingent liabilities Significant capital commitments As at 31 March 2026, the Group had significant capital commitments amounting to Baht 20,930 million, EUR 11 million or approximately Baht 396 million, and INR 3,135 million or approximately Baht 1,092 million in respect of the building construction, purchase of machinery and equipment (the Company only: Baht 20,930 million). Significant long-term service commitments 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. 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. ‌Guarantee obligations As at 31 March 2026, the Group had the following significant outstanding letters of guarantee required in the ordinary course of its businesses: Outstanding letters of guarantee totaling approximately Baht 69 million have been issued by banks to meet requirements of the Company. Outstanding letters of guarantee for totals of approximately Baht 87 million, INR 1,302 million or approximately Baht 453 million, EUR 1 million or approximately Baht 21 million and AUD 2 million or approximately Baht 56 million have been issued by banks to meet requirements of the subsidiaries. Tax assessment The Indian tax authorities assessed corporate income tax of approximately INR 232 million or approximately Baht 81 million, covering the years 2007 - 2016, and sales tax and excise duties of approximately INR 171 million or approximately Baht 60 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. Financial instruments 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. Fair value hierarchy As at 31 March 2026 , 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 - 26 - 26 Liabilities measured at fair value Derivatives Foreign currency forward contracts - 914 - 914 (Unit: Million Baht) Separate financial statements Level 1 Level 2 Level 3 Total Assets measured at fair value Derivatives Foreign currency forward contracts - 18 - 18 Liabilities measured at fair value Derivatives Foreign currency forward contracts - 914 - 914 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. Foreign currency risk and financial derivatives As at 31 March 2026, 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 2,043 1,346 1,928 1,161 Euro 19 21 10 20 Japanese yen 208 847 208 603 (Unit: Baht per 1 foreign currency unit) Foreign currency Average exchange rate as at 31 March 2026 US dollar 32.8376 Euro 37.6431 Japanese yen 0.2055 The Group manages its exposure to foreign currency risk by using derivatives when considered appropriate. As at 31 March 2026 , 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 839 million 30.7550 - 32.6950 THB/USD April - August 2026 EUR/USD EUR 7 million 1.1783 USD/EUR April 2026 Forward contracts to "Buy" USD/INR USD 3 million 94.1375 - 94.3750 INR/USD April 2026 JPY/THB JPY 100 million 0.2071 THB/JPY April 2026 Separate financial statements Amount Forward rate Maturity date Forward contracts to "Sell" USD/THB USD 839 million 30.7550 - 32.6950 THB/USD April - August 2026 Forward contracts to "Buy" JPY/THB JPY 100 million 0.2071 THB/JPY April 2026 Events after the reporting period On 8 April 2026, at the 2026 Annual General Meeting of the Company's shareholders, the following resolutions were approved: Approved a dividend payment of Baht 0.60 per share for 2025, totaling Baht 7,484 million. Approve the Group's restructuring plan under which the Company will acquire Delta Green Industrial (Thailand) Company Limited, a wholly owned subsidiary. The consideration for the business transfer will be determined based on fair value, as assessed by an independent valuer. The business transfer is expected to be completed by 2026. Approval of interim financial statements These interim financial statements were authorised for issue by the Company's Board of Directors on 27 April 2026.

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