Microsoft Word - MDA 2017 EN SET Final.docx Page 1 of 5    L-WAVE ENT 28/2018 28 February 2018 Subject: Report on reasons of change to profit (loss) and analysis on operating results by the

Limited (“the Company”) and its Subsidiary (“the Group”) would like to clarify the change in operating result for the second quarter ended 30 June 2019, which changed in revenue and net profit compared with

., BANGKAE, BANGKAE, BANGKOK, THAILAND. 10160 Tel: 02-455-2888 Fax: 02-455-2763 (“TRANSLATION”) TG 052/2020 May 11, 2020 Subject: Clarification of the Operating Result for the significant change Attention: The

3 VIII. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 5 IX. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 6 X. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 7 XI. INTERESTS OF EXPERTS AND COUNSEL 8

means of subscription of newly issued shares of Hero Experience and acquisition of shares from the existing shareholder (the “Share Acquisition Transaction”. Details of the Share Acquisition Transaction

increased is mainly due to the operating profit for the period of Baht 127.25 million and share subscription as warrants exercised of Baht 353 million. However, there was dividend paid of Baht 113.98 million

are as follows; Operating Performance 1. Revenues Unit: Million Baht In the overview of the year 2018, the Company had growth rate 1.82 percent of total revenue from furniture business. The mainly

-60.9% Profit before expenses 154.5 56.8% 249.3 62.3% 94.8 61.4% Administrative expenses 46.6 17.1% 62.2 15.5% 15.6 33.5% Total Expenses 46.6 17.1% 62.2 15.5% 15.6 33.5% Operating Profit 107.9 39.7% 187.1

parent) of Baht (508) million and loss per share of Baht (0.25) for the first quarter of 2020, compared to a consolidated profit (attributable to equity holders of the parent) of Baht 310 million and

, 2019, passed a resolution to sell 666,332,580 newly issued shares, at a par value of Baht 1 per share, to existing shareholders through a rights offering process, at a price of Baht 1.20 per share