143 4 0 161 4,025 Net Financial Costs (5) (0) (12) (0) 7 (58) (8) (0) 3 (38) FX Gain/Loss(1) (10) (0) (22) (0) 12 (55) 44 1 (54) (123) Share of Profit/(Loss) from investment 46 1 15 0 31 207 27 1 19 70

(69.35) (1.51) (64.17) (1.47) (87.32) (2.11) Loss on impairment of investment (75.42) (1.64) (8.07) (0.18) (4.69) (0.11) Gain (loss) on sale of investment 90.49 1.96 (5.19) (0.12) - - Profit before

) (3) 8 (6) (139) (3) 6 (4) EBIT 4 0 87 2 (83) (95) 72 2 (68) (94) Net Financial Costs (8) (0) (15) (0) 7 (47) (5) (0) (3) 60 FX Gain/Loss(1) 44 1 (26) (1) 70 (269) (27) (1) 71 (263) Share of Profit

million comparing to the net profit of Baht 1 million and Baht 50 million, respectively, in the same period last year. During this pandemic period, the Company has carefully managed the situation in all

reported its 2017 consolidated net profit at THB 13,568 mn, an increase of 46.8% from the same period in the previous year (YoY). Total revenues stood at THB 34,594 mn, an increase of 18.3% YoY. Excluding

abovementioned, the net profit has changed by more than 20%, comparing to the same period of 2018 which is clarified as below Income : (Unit: Million Baht) Consolidated Separate Y2019 + Increased Y2019 + Increased

Dusit Thani PLC Management Discussion and Analysis For 3Q19 and 9M19 P a g e | 1 Executive Summary In 9M19, Dusit Thani PLC (“The Company”) reported the net profit including attributable to non

profit including attributable to non- controlling interest of Baht 339 million, increased by 60.7% from 9M2018. The net profit attributable to owners of the parent was Baht 51 million, decreased by 70.0

) 47.78 (229.65) (480.64) Expense tax (0.94) (13.42) 12.48 (93.00) Net profit (loss) (182.81) 34.36 (217.17) (632.04) Gross Profit Margin 14.62% 49.40% Earnings before interest and taxes -46.48% 18.06

801 106 13% Cost of sales and services -789 -621 168 27% -682 -608 74 12% Gross Profit 248 235 13 5% 225 193 32 16% Other Income 5 0 5 1,701% 14 7 7 117% Selling expense -81 -70 11 16% -71 -61 10 17