litigation (15.86 ) (15.86 ) #DIV/0! (5.36%) 0.00% Reversal of doubtful accounts 0.40 62.94 62.54 99.36% 0.14% 8.88% Finance costs (62.30 ) (36.13 ) 26.17 (72.43%) (21.06%) (5.10%) Tax income (expense) (0.26

(15.86 ) (15.86 ) #N/A (5.36%) 0.00% Reversal of doubtful accounts 0.40 62.94 62.54 99.36% 0.14% 8.88% Finance costs (62.30 ) (36.13 ) 26.17 (72.43%) (21.06%) (5.10%) Tax income (expense) (0.26 ) (9.44

46.8% 79.2 73.4%   Management Discussion and Analysis, Q1/2018 Page 2/4 JMT Network Services Public Company Limited Finance Cost 16.3 6.0% 27.8 6.9% 11.5 70.6% Tax Income 18.3 6.7% 43.2 10.8% 24.9 136.1

of raw materials and packaging, which partly offset the increased of excise tax. Food business Food cost of sales was maintained due to improve efficiency in restaurant operation. Selling Expenses

to pay special business tax and local tax, when transferred the right of ownership to the purchasers, more in the first quarter of 2018. 3.4 Administrative expenses for the first quarter of 2018

% Finance costs (33,716) (43,074) -22% (19,474) (21,032) -7% Profit (loss) before income tax 200,062 (88,482) 326% (7,853) 40,006 -120% Income tax (6,125) (9,765) -37% (4,171) (8,300) -50% Profit (loss) for

35.11 81.96% Selling expenses 9.20 4.08 5.12 125.49% Administrative expenses 14.60 15.81 (1.21) (7.65%) Finance cost 1.02 0.88 0.14 15.91% Profit before income tax expenses 111.79 33.39 78.40 234.80

) -15.07% 3.33% (0.99) (1.22) 23.23% Profit before income tax expense 18.37 49.27 46.58 153.57% -5.46% 35.00 95.85 173.86% Income tax expense (2.77) (3.24) (3.44) 24.19% 6.17% (4.96) (6.68) 34.68% Profit for

99.93% Selling expenses 12.23 4.58 7.65 167.03% Administrative expenses 19.75 14.31 5.44 38.02% Finance cost 0.53 0.89 (0.36) (40.45%) Profit before income tax expenses 113.42 55.02 58.40 106.14% Income

the tax exemption for corporate income from BOI, therefore, the dividend is free for income tax. 2. The Board of Directors had approved the related transactions as following detail; 2.1 Disposal on