% Gross Profit / Cost of Sales Analysis and Sales and Administration Analysis The Gross Profit margin was 5 percentage points lower at 11% in Q118 down from Q117 at 16% due to stronger THB/USD exchange rate

% HMT (Ohio, USA) 4% 4% 5% 4% 5% 100% 100% 100% 100% 100% Gross Profit / Cost of Sales Analysis and Sales and Administration Analysis The Gross Profit margin was 1 percentage points lower at 14% in Q218

Profit / Cost of Sales Analysis and Sales and Administration Analysis The Gross Profit margin was 6 percentage points lower at 12% in Q319 down from Q318 at 18% due to reduced economies of scale from lower

% 4% 100% 100% 100% 100% 100% Gross Profit / Cost of Sales Analysis and Sales and Administration Analysis The Gross Profit margin was 7 percentage points higher at 15% in Q120 up from Q119 at 8% due to

to IU - Thailand Baht/Ton 1,161.88 1,035.55 12.2% 1,185.75 -2.0% Effective gas cost Baht/mmBtu 281.52 237.21 18.7% 278.60 1.0% B.GRIMM POWER PUBLIC COMPANY LIMITED Management’s Discussion and Analysis

(Chachoengsao) Co. ,Ltd. also increased its production capacity. In addition to the improvement of raw material cost management - leading to increase 5 Management Discussion and Analysis of Business Operation for

28 February 2020 Subject Management Discussion and Analysis for the years ended December 31, 2019 To The President The Stock Exchange of Thailand Do Day Dream Public Company Limited (the “Company” or

-month period ended 30 September 2017 and 2016 were 17.87% and 17.00% respectively, equaling to an increase of 0.87%, which was mainly due to the increase in sale and the better cost management. Analysis

14 August 2019 Subject Management Discussion and Analysis for the six months period ended Jun 30, 2019 To The President The Stock Exchange of Thailand Day Dream Public Company Limited (the “Company

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Fourth Quarter and the Year Ended 31 December 2017 1. Q4/2017 Highlights Figure 1: Quarterly results