income 219 146 50.2% 127 72.5% Gross profit 2,367 2,214 6.9% 2,320 2.0% SG&A 1,538 1,322 16.3% 1,446 6.3% Selling and distribution expenses 1,050 884 18.8% 1,002 4.7% Administrative expenses 488 438 11.2

, who paid lower tariffs than other customer groups. Raw Water Volume (Million Cu.M) Quarter 1 2019 2018 YOY % Total distribution volume 77.35 61.93 15.42 24.90% Internal usage for tap water 7.89 7.72

% Total other income 205 99 106.5% 424 245 73.0% Gross profit 1,983 2,221 -10.7% 4,350 4,435 -1.9% SG&A 1,340 1,459 -8.2% 2,878 2,781 3.4% Selling and distribution expenses 930 989 -6.0% 1,980 1,873 5.7

distribution volume decreased by 25.69 or -16.34% (excluding internal usage for tap water production of 15.20 million Cu.M.), due to East Water group compliance to the Royal Irrigation Department’s policy for

(Million Cu.M) Q1/2017 Q1/2018 YoY % Total distribution volume 69.98 61.93 (8.05) (11.50%) Internal usage for tap water 7.96 7.72 (0.24) (3.01%) Net Raw Water Sales Volume 62.01 54.21 (7.81) (12.59%) Raw

DISCUSSION AND ANALYSIS FOR Q2/2017 3 Raw Water Volume (Million Cu.M) 1H/2016 1H/2017 Increased (Decreased) % Total distribution volume 148.70 136.99 (11.71) (7.87%) Internal usage for tap water 15.40 15.94

/2017 1H/2018 YoY % Total distribution volume 67.02 61.64 (5.38) (8.02%) 136.99 123.57 (13.43) (9.80%) Internal usage for tap water 7.98 7.20 (0.78) (9.75%) 15.94 14.92 (1.02) (6.39%) Net Raw Water Sales

customer groups. Raw Water Volume (Million Cu.M) For the three-month period For the nine-month period Q3/2017 Q3/2018 YoY % 9M/2017 9M/2018 YoY % Total distribution volume 59.67 64.56 4.89 8.19% 196.67

19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Management Discussion and Analysis of Business Operation for Q1/2019

than other customer groups and the discount for such group. Raw Water Volume (Million Cu.M) For the three-month period Year 2019 Year 2018 YoY % Q4/2019 Q4/2018 YoY % Total distribution volume 78.09