increased by Baht 1,209 million from fully recognizing GLOW’s coal consumption for the first full quarter as in Q1/2019, the cost of sales and rendering service of GLOW was only recognized for 18 days. PAGE

of 2019. For the operating result of the first Quarter ended March 31, 2020 compared with the same period of 2019, the Company had the Revenue from Sale of THB 341. 59 Million which was increased by

increased THB 104.51 million, accounting for 89.71% of the total change. The Company had an increase in revenue of THB 57.55 million (related transactions eliminated), while the three subsidiaries in Thailand

of 2017 Second quarter of 2016 Increased (Decreased) Amount % 1.1 Revenues from construction Baht 2,032.79 million Baht 1,905.25 million Baht 127.54 million 6.69 1.2 Cost of construction 91.15 % 92.37

the 2nd quarterof Year 2018 and 2019 were in amounts of Baht 135.14 million and Baht 168.99 million, respectively, which increased by 25.1% compared to the total revenue. The increasing in revenue Baht

Company and subsidiaries in Thailand, which increased THB 29.16 million, accounting for 92.33% of the total change. The Company had an increase in revenue of THB 18.44 million (related transactions

has dropped slightly mainly due to the increase in cost from the Company, which started fully realizing the depreciation from the new factory building in Q1/2018. Depreciation increased THB 20.15

not yet fully recovered due to the concern over 2nd wave of COVID-19 pandemic, international travel restriction in many countries and slowdown of economic recovery as well as business cutting down

the year 2019. GFPT Group operates fully integrated poultry business involving the production and distribution of feeds, frozen chicken meat, processed chicken and its by- products under both the

increased as the target and the direction in the third and fourth quarters still support the growth of businesses Management Discussion and Analysis (MD&A) for Q2/2019 Page 2/7 Jaymart Public Company Limited