1 Forth Smart Service Public Company Limited (FSMART) 3Q18 Management Discussion and Analysis Operational Summary 9M18 Operational Summary  Total revenue from core business was Bt2,523mn, increasing

Company’s direct subsidiary, holds 40 percent stake), the operator of a small power producer in Nava Nakorn Industrial Promotion Zone, invested in an expansion for an addition of 60 megawatts of electricity

interest in four equal installments. This also includes approving the cancellation of the immediate repayment requirement and the cancellation of default interest, as specified in the notice from the

March 2025, and approving the payment of the outstanding interest in four equal installments, as well as approving the cancellation of the immediate repayment requirement and the cancellation of default

owners of the Company of THB 4,824 million, increasing by THB 235 million or 5.1%, and (2) non- controlling interest amounted to THB 1,057 million, increasing by THB 292 million or 38.2%. Unit: THB mn 31

271.42 million or increased 29.27% when compare to the same period of 2016, due to the increasing of the quantity of Sales. 2. Cost of goods sold was Baht 1,021.58 million, and the gross profit margin was

Baht. Mainly by the increasing of Revenue from sales 17% with the increasing from domestic sales and expansion oversea market. There are gross margin rate for the period is 21%, and 14 % in 2018. As the

Baht 20.16 Million or 1.38% when compare to the same period of 2019, due to the increasing of the quantity of Sales. 2. Cost of Sales was Baht 1,284.25 million, decreased 4.66% when compare to the same

increasing of Revenue from sales 14% with the increasing from selling price and sale volume. In the first quarter of year 2018 gross profit rate 15 %, increased 7% compared with the last year. The first

order to increase the frequency of use from the regular customers. As a result, FSMART has total revenue from core business which is Bt769mn in 2Q17 increasing 48.0% YOY and has net profit was Bt144mn