operating result for year ended December 31, 2017 The Company and its subsidiary had net income of Baht 9.87 million comparing to the same period of the previous year with net income of Baht 227.02 million

and Service 474.93 539.16 -64.23 -11.91% Total Revenue 476.04 548.48 -72.44 -13.21% Net Profit for the Period 30.63 105.84 -75.22 -71.06% Net Profit for Shareholders of the Company 21.94 86.79 -64.86

- 2.19 -100% Adj. Previous Year SW Income 0.43 20.31 -98% EBITDA * 102.39 109.40 -6% % EBITDA * 26.1% 25.9% 0% Other Income 4.62 5.56 -17% Financing Cost 0.03 1.22 -98% Corporate Tax 16.11 12.28 31% Net

Osotspa Public Company Limited Q1’19 Management Discussion & Analysis 14 May 2019 Q1’19 Management Discussion & Analysis Page 1/6 Financial Highlights - Q1’19 Net profit* was at THB 888 million

Microsoft Word - MD^0A_FY2019_EN_Final 1 Forth Smart Service Public Company Limited (FSMART) FY2019 Management Discussion and Analysis Operational Summary in FY2019  Net profit was Bt584mn

93.39 Distribution costs 18.78 16.31 2.47 15.14 Administrative expenses 19.34 13.25 6.09 45.96 Tax expense 5.90 10.43 (4.53) (43.43) Profit for the period 24.26 41.84 (17.58) (42.02) Net Profit

follows. Performance Analysis For the Quarter 2-2018, the Company and its subsidiaries had total revenue of 373.61 million baht, an increase of 69.16 million baht or 2.75 percent, with the total net loss of

17.27 18.78 (1.51) (8.04) Administrative expenses 18.79 19.34 (0.55) (2.84) Finance costs 0.41 0.00 0.41 100.00 Tax expense 3.50 5.90 (2.40) (40.68) Profit for the period 14.56 24.26 (9.70) (39.98) Net

) (20.56) Distribution costs 19.69 17.69 2.00 11.31 Administrative expenses 15.10 21.03 (5.93) (28.20) Tax expense 5.92 7.74 (1.82) (23.51) Profit for the period 24.15 30.57 (6.42) (21.00) Net Profit

statements for the year ended February 28, 2018 which were audited by Deloitte Touche Tohmatsu Jaiyos Audit Company Limited. The Company has net profit attributed to owners of the parent of 2,966 million baht