loan and the impact of the THB appreciation to foreign currency translation of financial statements despite higher interest rates. Earnings before interest, tax, depreciation and amortization (EBITDA

Owner of the Company before exchange rate 1,660.42 1,097.85 562.57 51.2 Gain (loss) on exchange rate 200.65 (256.34) 456.99 178.3 Profit Attributable to Owner of the Company 1,861.07 841.51 1,019.56 121.2

(Thailand) Co., Ltd. as follow; Items Before changing par value After changing par value 1. Registered Capital 100,000,000.00 Baht 100,000,000.00 Baht 2. Paid up Capital 100,000,000.00 Baht 100,000,000.00

(Annualised) / Average Total Shareholders’ equity (average of outstanding at end of the previous year and at end of this year) 4 Earnings before interest and tax (Annualised) / Average Total Assets (average of

of real estate development costs 0 15,704 -100.00 -Finance Costs 7,144 13,108 -45.50 Total Expenses 348,002 408,433 -14.80 Gain (loss) before loss on investments in associates and income tax expenses

- N/A Profit before finance costs and income tax expense 1,578 1,244 2,244 42% 80% 6,902 7,898 14% Finance costs (415) (379) (380) -9% 0.1% (1,484) (1,452) -2% Profit/(loss) before income tax expense

the day before or of 1 hour before the occurrence of emergency incidents, as the case may be. In addition, there should be provided an approach on provision or preparation of substitute data in

case of emergency incidents happened. However, the latest data recoverable may be a data recovery as of the end of day of the day before or of 1 hour before the occurrence of emergency incidents, as the

6.8% -8.7% 73,792 78,463 6.3% Withholding tax - - - NA NA 134 - NA Legal severance provision (before tax) - - - NA NA - 636 NA TOT Partnership (before tax) - -479 - NA NA - -479 NA Normalized EBITDA

Company Limited Interim Management Discussion and Analysis for the 1st Quarter 2019 Page 5 of 11 Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) Unit: Million Baht 1Q 2019 1Q 2018