2Q 2019 - MD&A (for three-month period ended 30 June 2019) 3 U CITY PCL SEGMENTAL PERFORMANCE 2Q 2019 REVENUE CONTRIBUTION BY SEGMENT 2Q 2019 REVENUE GROWTH CONTRIBUTION This quarter, the hospitality

customers, additional contribution from Demineralized Water. 2 Gross Profit and Gross Profit from Operation In 2019, Gross Profit was Baht 692.8 million, a 17.8% increase from Baht 588.3 million in 2018, and

Page 1 of 6 Performance Overview In 3Q17 Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reported a total revenue growth of 82% YoY, mainly from higher contribution from

;  Type 3 telecommunication business annual license fee  Spectrum administrative fee  Telecommunication numbering fee  Revenue contribution to Broadcasting and Telecommunication Research and Development

management company exceed 5 percent of total shares sold of management company 2. Person who hold shares or be a partner of person in 1. exceed 30 percent of the total shares sold or amount of contribution of

shares sold or amount of contribution of such person. Except that such person in 1. is a company established in the foreign country; (c). Juristic person which management company hold shares or be a

percent of the total shares sold or amount of contribution of such person. Except that such person in 1. is a company established in the foreign country; (c). Juristic person which management company hold

because more contribution from subsidiary’s profit as the Company’s stake has increased to 98.31% from 53.93% in 1Q’18. Page 3 of 4 The consolidated profit before non-controlling interest in year 2018

of investments Total revenue grew by 8.83% year-on-year, driven by higher sales from the automotive parts segment and sale contribution of AAPICO Maia which the company acquired in Q4 2019. Interest

lower Share of Profit of associates contribution. Mil THB 12 19 63 45 9 10 189 91 Q2 18 Q2 19 165 -39.5% Profit sharingTKS One-time gain(loss) 273 Gain on sale asset TBSP 84 74 -11.0% 46.5% 27.9% % NP