Company and subsidiaries established the cost efficiency projects to optimize the production cost, waste management and tighter control of purchasing raw material to in- line with reduction in sales and

DISCUSSION AND ANALYSIS FOR Q1-2020 • Inventories decreased from THB 238.24 million as at December 31, 2019 to THB 212.99 million as at Q1-2020 due to usage of raw material in stock and impairment of raw

was mainly from the Company managing to reduce raw material costs due to cheaper sources of raw materials imported and the reduced energy. For the three-month period ended 30 September 2019, the selling

raw materials on 29 Jun 2018 and 31 Jul 2018, the company recorded expenses from raw materials derogation amounting to THB 2,004 million and tax income from deferred tax assets from such provision

especially in raw material procurement procedures. The Company attempt to maintain a faster inventory turnover, where raw material (CPO) and product (Biodiesel) were stocked between 20-30 days in 2020. Also

decreased by 1.8% from 1H/2020 due to the reduction in the proportion of in-store sales and sales of raw materials to Mikka franchisee which has lower margin than normal product sales • The Company’s EBITDA

dine-in areas resulting in higher proportion of take-home products and orders via food delivery services, which have lower margins than dine-in products, as well as the sales of raw material to Mikka

, the Company achieved higher sales of raw material to Mikka Café franchise, which have relatively lower margins. • The Company’s EBITDA in Q4/2021 and 2021 were THB 58 million and THB 172 million

, the Company had loss from real estate rental and services related of ABC World Project of Baht 79 million, the gross loss for last year were offset against gross profit generated from the disposition of

บริษัท ซาฟารีเวิลด์ จำกัด (มหาชน) 1 TRANSLATION Safari World Public Company Limited Registration Bor Mor Jor 0107537000351 Ref. No. 012 /2018 February 26, 2018 Re: Notification of the Resolutions of