MANAGEMENT DISCUSSION & ANALYSIS 2019 14 FEBRUARY 2020 U CITY PCL 2019 - MD&A (for the year ended 31 December 2019) 1 U CITY PCL 2019 KEY FINANCIAL HIGHLIGHTS • Total revenue increased by 53.4% YoY

future. The second quarter of 2017/18 (ended 30 September 2017) 4 VGi GLOBAL MEDIA PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2017/18 30 OCT 2017 Meanwhile, our Office Building and Other media segment revenue

total revenue or THB 80mn, decreasing by 17.2% YoY or THB 17mn, mainly due to a decrease in project management fees. Revenue growth was also accompanied by an increase in cost of sales which came to THB

revenue from construction. As specified in the contract, the subsidiary shall transfer assets when the contract ends. The Group’s management assessed the agreement in accordance with TFRIC 12 ‘Service

million baht or 23.1 % which is a result of the revenue from the NPL management business that is continuously growing. 3. Rental income is equal to 93.7 million baht decreasing 30.5 million baht or 24.6

operations 3. Revenue from Logistics Management for the three-month periods ended March 31 , 2020 and March 31 , 2019 equals 90.10 million baht and 86.94 million baht, respectively, an increase of 3.16 million

about Baht 755.63 million, revenue from rendering services and sales management amount Baht 73.32 million, revenue from sales and network services about Baht 97.14 million and revenue from the sale of

million 3. Management Discussion and Analysis 3.1 Revenue from construction for the second quarter of 2019, has decreased when compared to the same quarter of 2018, by Baht 846.73 million or 38.49%. The

(loss) for the year (from the separate financial statements) Baht (380.99) million Baht 470.09 million 3. Management Discussion and Analysis 3.1 Revenue from construction in 2019, has decreased by Baht

342.26 million 3. Management Discussion and Analysis 3.1 Revenue from construction for the third quarter of 2019, has decreased when compared to the same quarter of 2018, by Baht 732.44 million or 30.51