, when including comprehensive loss, had total gain of Baht 99 million. The consolidated net profit for the year 2018 totaled Baht 6,042 million, an increase of 5.3% from Baht 5,737 million in 2017. The

previous quarter of 1Q19. When comparing yoy, the net income for 2Q19 declined by 5.2% comparing to net profit of Baht 1,551 million during 2Q18. The consolidated comprehensive income for 2Q19 totaled Baht

consolidated comprehensive income for 2Q19 totaled Baht 1,126 million, a decline of 17.7% comparing to Baht 1,369 million in 1Q19. When comparing yoy, the comprehensive income increased by 0.1% comparing to Baht

from Asset Management business totaled Baht 801 million. Meanwhile, the Investment business recorded revenue, when including comprehensive loss, had total gain of Baht 99 million. The consolidated net

3.8% comparing to net profit of Baht 1,551 million during 3Q18. The consolidated comprehensive income for 3Q19 totaled Baht 1,766 million, an increase of 56.8% comparing to Baht 1,126 million in 2Q19

profit of Baht 1,551 million during 3Q18. The consolidated comprehensive income for 3Q19 totaled Baht 1,766 million, an increase of 56.8% comparing to Baht 1,126 million in 2Q19. When comparing yoy, the

(Translation) February 27, 2019 Ref: SET-2019-003 Re: Management's Discussion and Analysis and operating results for the Year 2018 Attn. to: President The Stock Exchange of Thailand Filter Vision

of THB 754 mn and net profit at THB 85 mn). The difference versus GLAND’s reported statement of comprehensive income mainly comes from the investment properties that the Company recorded at the time of

of THB 754 mn and net profit at THB 85 mn). The difference versus GLAND’s reported statement of comprehensive income mainly comes from the investment properties that the Company recorded at the time of

already registered the changes to the Department of Business Development, Ministry of Commerce on April 17, 2019. In this regard, the Company still uses the same stock symbol “RATCH”. Management Discussion