subsidiary, please kindly find the following attachment. Please kindly be informed accordingly. Yours faithfully, Mr. Geza Emil Perlaki Managing Director For period ended 31 March 2020 MANAGEMENT DISCUSSION

Million Baht Million Baht Percentage Total Revenues 4,574.73 4,235.78 338.95 8.00 Cost of Sales and Services 4,293.84 3,841.22 452.62 11.78 Expenses 156.08 162.44 (6.36) (3.92) Net Profit (Loss) 90.67

, with 0.18 million baht decrease with no significantly transaction changes. 2. Cost of sale , Profit margin For Quarter 1 of the year 2020, the company had cost of sale of 98.36 million bath compare to

responsible for the safe keeping of the trust’s assets and supervising the trust manager and other delegates (if any) to act in accordance with any such agreements and the laws; If the investment will be made

Mrs.Kanchana Saisiriporn Chairman 200,000 200,000 - 0.33% Spouse and Minor Children - - - - Mrs.Teerada Ambhanwong Managing Director & CEO 1,831,325 1,831,325 - 3.05% Spouse and Minor Children - - - - Mr.Manu

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

profit 37.66 20.62 (17.04) -45.24% 120.73 77.04 (43.69) -36.19% Other income 0.06 0.31 0.24 370.85% 0.21 1.60 1.38 655.19% Services expenses (1.25) (1.31) (0.06) 4.62% (5.59) (3.84) 1.75 -31.38

improvement of customer services were well implemented. The Company’s gross profit in the first quarter of 2018 was Baht 163.66 million, increased from Baht 139.31 million in the first of quarter of 2017 or

that of Baht 29.48 million in the third quarter of the year 2016. 3. Operating Profit The operating profit of the Company and its subsidiary for the third quarter of the year 2017 was Baht 0.88 million

3,419 771 23% Cost of Sales and Service -3,537 -2,766 771 28% -3,170 -2,618 552 21% Gross Profit 1,194 947 247 26% 1,020 801 219 27% Other Income 65 26 39 153% 92 53 39 72% Selling Expense -328 -297 31 11