Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the year ended 31 March 2020 Executive Summary Thai Economy in the first quarter of 2020 happened into recession due to

government’s relaxation of COVID-19 prevention measures. Expand “After You Marketplace” Stores • In the first quarter of 2022, the Company opened the first After You Marketplace standalone store on Pradipat Road

Public Company Limited (“the Company”) would like to submit the Management Discussion and Analysis for the second quarter ended June 30, 2020 as follows: Revenue from Sales For the first 6 months of 2020

as follow: Revenue from Sales The Company has revenue from sales in the first quarter in the amount of 1,110.0 million Baht decreased by 13.3 percent compared to the same quarter of the previous year

%. Gross profit was down from 35.5% to 29.4% due to low margin sales to B2B and Thai Baht appreciation against US dollar in the first quarter. The Company reported total expenses of Baht 903.0 million

well, the Company also intends to expand our business to CLMV countries (Cambodia, Lao PDR, Myanmar, Vietnam), which obtain an interesting direction of business growth. In the first quarter of , the

Company and its subsidiaries for the first 9 months of 2018, ended 30 September 2018, was described in the financial statement showing net loss at the amount of Baht 120.06 million, comparing with the same

30, 2020 as follows: Performance Overview For the first six months of 2020, the Company and its subsidiaries had net loss attributable to equity holders of the Company amounting to Baht 49.83 million

Program Rights For the first quarter of 2018, the Company and its subsidiaries earned revenue from program rights totaled THB 327.23 million, an increase of THB 77.36 million or 30.96% from the same period

1,677 100% 1,977 100% (300) (15%) 2 EMS business The Company had revenue from EMS business for the first quarter of 2019 amounting to Baht 394 million, a decrease of Baht 82 million or a decrease of 17