337.04 308.78 9.16 Cost from sale and installation of the pipeline 240.49 236.17 1.83 Cost from the water management business 54.20 14.51 273.54 Selling expenses 13.52 12.90 4.81 Administrative expenses

102.59 million for 3Q18, or 14.23% increase year-over-year from Baht 89.82 million in 3Q17. This represents an increase in Revenues from hospital operations. Administrative expenses (including Depreciation

Baht 133.0 million or 10.2% which was in line with the increased revenue. Distribution cost and selling & administrative expenses increased in the amount of Baht 74.2 million or 32.8% from the use of

. - Administrative Expenses in Q3/2018 amounted 166.69 million baht increased by 17.66 million baht or 11.85 % compared to 149.03 million baht in Q3/2017 mainly from the increase of employee expenses. - Share of gain

amount of Baht 164.52 million. This cost of the construction project is still in line with the Company's estimation. For other projects are still normal. 3. The total administrative expense decreases in

last year. Caused by the sale of long outstanding products. The company must bring the product (Rework) to get the product ready to sell. 3. The increase in selling and administrative expenses was 37.65

increase in cost of hospital operations in the amount of Baht 133.0 million or 10.2% which was in line with the increased revenue. Distribution cost and selling & administrative expenses increased in the

drop to 19.1%, compare to 24.5% in the same quarter of last year and 19.9% in last quarter. Selling and administrative expenses (including research and development – R&D) in Q3’19 went up 5.7% from Q3’18

Acc. 006/2019 November 11, 2019 To: The President The Stock Exchange of Thailand Subject: Management discussion and analysis (MD&A) for Quarter 3/2019 Dear Sir, S. Khonkaen Foods Public Company

amount of Baht 157.6 million or increased 11.0 percent, and distribution costs and administrative expenses increased in the 44 หมู่ 4 ถ.แจง้วฒันะ ต.ปากเกร็ด อ.ปากเกร็ด จ.นนทบุรี 11120 โทร +66 2836 9990