February caused by technical issue at our supplier’s site. Analysis of Cost and Expenses 1. In Q1 2020, Cost of sales was 3,255 MTHB, decreased by 445 MTHB comparing to Q1 2019 or 12% due the drastic decline

feeds business was higher than the previous year which increased by amount of Baht 40.32 million, mainly due to sales increase and the efficiency improvement of production cost management. 2. Other

outbreak of the Coronavirus Disease 2019 ("COVID-19"). The Company have been closing hotels since April 1, 2020. - Cost of sales in Q1/2020 amounted 1,108.50 million baht or 60.75% of sales decreased

20 million. It is included as part of the cost of sales, resulting in lower gross profit and gross profit margin than the gross profit and gross profit margin of the first quarter of 2020. Smart

2019. The main reasons were:  Cost of goods sold was Baht 23.47 million, increasing of 45.50 % due to lots of new book titles book published and increased in numbers of provision of obsolete stocks

margin in Q3/2020 was 14.13%, compared to gross profit margin of 35.50% in Q3/2019. It was due to lower sales revenue while the company having labor cost which is fixed cost. In addition, the company had

business and Cloud Computing business of Baht 13.09 million; - Other revenue of Baht 2.13 million. 2. Cost of Sales and Services, Selling and Servicing Expenses and Administrative Expenses The cost of sales

slowdown of investment environment throughout the country. Cost of goods sold and services decreased in portion of decreasing revenue but expenses were increase at the same level as last year and interest

.) 9M2020 9M2021 Inc./ (Dec.) % Inc./ (Dec.) Services income 80.79 124.30 43.51 53.86% 229.98 387.08 157.10 68.31% Cost of rendering of services (53.56) (86.64) (33.08) 61.77% (148.95) (266.34) (117.39) 78.81

(183.82) -35.69% Cost of rendering of services (355.37) (238.78) 116.59 -32.81% Gross profit 159.63 92.40 (67.23) -42.11% Other income 0.69 2.90 2.21 320.40% Services expenses (6.83) (5.10) 1.73 -25.35