Piyarom Tendo, Baan Pha Piyarom Townee Don Wai and Baan Pha Greenery Pinklao-Sai5. 2 Rental Income and Service Revenue The Company and its subsidiaries’ rental income and service revenue earned increase of

12.3 3.2 Total revenue 358.9 100.0 386.6 100.0 Notes: /1 Other income comprises mainly of interest income and services revenue Sales by geography Consolidated financial statements For the three months

Liabilities Bank overdrafts and short-term loans from financial institutions decrease by Baht (27.03) million Trade and other payable increase by Baht 5.83 million Deferred income tax liabilities increase by

PAGE 1 OF 3 GEL.CS.001/2564 1 March 2021 Subject: Management Discussion and Financial Analysis for the operating results of the year 2020 December 31, 2020 To: Director and Manager The Stock Exchange

11 August 2017 approving the reviewed consolidated financial statements for Quarter 2 of 2016 ending on 30 June 2017, the Company would like to report factors that affect the financial performance for

38.79 2.81 7.24% Administrative expenses 40.40 36.16 4.25 11.74% Financial costs 26.48 23.42 3.06 13.07% Income tax expense 3.96 3.81 0.15 3.88% Total cost of goods sold and expenses 360.43 341.40 19.03

submitted the Company’s financial statement for the year ending 31 December 2018, In order to provide investors and other interested parties to better understand the Company’s operating results and financial

adopting the Financial Reporting Standard No. 16: Leases, whereas the interest expense has decreased from the bond repayment in the fourth quarter of 2019 and second quarter of 2020. 6. Income tax expenses

heightened competition from other financial institutions and non-bank players, KBank has focused on strengthening customer engagement through digital channels so as to reinforce our digital banking leadership

a rebound in December. Consequently, the current account surplus came in at USD 37.7 billion in 2018, narrowing from USD 50.2 billion in 2017. Global financial markets continued to experience