Translation Management Discussion and Analysis for Interim Business Operations Financial Performance for the period ended M arch 31 , 2020 (Unit : M ill ion Baht) 2020 2019 Inc. / (Dec.) % (Re st at

the six-month ended June 30 Change Unit: Million Baht 2020 2019 Amount % Revenues from construction contracts and sales of construction materials 9,342.55 12,969.98 (3,627.43) (27.97) Other income

Q1/2020 ended March 31, 2020 of the Company and its subsidiaries, as shown below: (Unit : Thousand Baht) Q1/2020 Q1/2019 Change %Change Revenue 212,967 236,732 (23,765) (10.04%) Gross profit margin

delivery and production order. As a result, the cost of sales per unit increased together with the subsidiaries could not utilize full capacity. (4) Dividend income The Company received dividend from Millcon

the same period of the year over year. Revenue from network marketing business was THB 71.63 Million having growth by 1,080.07% The revenue of each business unit which were shown above, didn’t eliminate

Management Discussion and Analysis of the Company's operation for the three-month period ended 30 September, 2019 with details as follows: Unit: Million Baht (Unit: Million Baht) Consolidated financial

10500 Tel.0-2660-6688 Fax.0-2660-6687 32 PHILLIP SECURITIES (THAILAND) PUBLIC CO.,LTD. 11ST FL., UNIT 1102, 14TH FL., UNIT 1404 AND 15TH FL., VORAWAT BLDG., 849 SILOM RD. SI LOM, BANG RAK, Bangkok 10500

SECURITIES PUBLIC CO.,LTD. 2/F CHARN ISSARA TOWER 1 , 942/81 RAMA IV ROAD SURIYAWONG, BANG RAK, Bangkok 10500 Tel.0-2660-6688 Fax.0-2660-6687 28 PHILLIP SECURITIES (THAILAND) PUBLIC CO.,LTD. 11ST FL., UNIT

or 12.2% from planned shutdown and decrease in unit rate which is adjusted in line with the decline in average natural gas price. Sales and service income for Q4/2020 compared to Q3/2020 decrease by

Q4/17 Q1/18 Sales Revenue Net Profit Unit: Million Baht Page 2 2. Overview of Domestic Economy and Ready-to-Drink Fruit Juice Market In Q1/2018, domestic RTD fruit juice market continued to decrease 10