1 Forth Smart Service Public Company Limited (FSMART) 1Q19 Management Discussion and Analysis Operational Summary in 1Q19  Net profit was Bt150mn, increasing 3.1% YoY  Total revenue from core

specific 5G industrial use cases. Manage cost amidst pandemic to sustain profit In 2Q20, core service revenue was Bt32,285mn, -6.4%YoY and -2.4%QoQ mainly from COVID-19. Total cost amounted to Bt32,831mn

, in order to disclose as the information to the investor and public. Consolidated Operating Results for Quarter 2/2017, the company reported a net profit of Baht 14.82 million, compared to the same

Company’s auditor. The conclusion was detailed as follows: The Company's operating results and its subsidiaries for the third quarter of 2019, the consolidated financial statements showed the net profit of

debt was stable at 3.1% per year. Profit In 2Q19, EBITDA was Bt19,117mn increasing 0.6% YoY and 1. 1% QoQ following growth in core service revenue offset by higher network OPEX and SG&A. Excluding the

-on-year, driven by improved performance of core businesses and the profit from sales of tooling to VinFast. These increases were however offset by higher interest and tax expenses, primarily due to

and flat QoQ. For 9M20, core service revenue declined - 4. 4% YoY, EBITDA contracted - 3%YoY and net profit declined -13%YoY. FY20 guidance is revisited, core service revenue is expected to contract low

% 18.6% For 6M19, Company showed %GP at 22.1%, while 6M18 represented at 22.8%. Excluding TBSP of 15.6% GP, Company’s core %GP achieved at 27.2%, %, primary by higher Gross Profit of High-Valued Document

184.1million, a decrease of Baht 8.21million or equal to approx. 4.27% yoy; whereas, core revenue fromFerry service was Baht 161.35 million, 87% of total revenue which decrease of Baht 6.61 million, or equal to

Management Discussion and Analysis for the year 2021 4 Core Operating Profit (defined as Earnings before Interests and Taxes exclude interest income, gain (loss) on exchange rate and other irregular items) for