- 1 - AIT (VP-SEC) 005E/2018 February 15, 2018 Subject: Management's Discussion and Analysis of Operating Results for the year 2017 and Q4-2017 To: The President The Stock Exchange of Thailand

Consolidated Financial Statements ended 31 December 2017, which have been audited by the Company’s authorized auditor. The company would like to clarify the operating results of the Company and its subsidiary

% ต่ำ สูง กลุ่มหุ้นที่เน้นลงทุน General Large Cap Mid/Small Sector ต่ำ สูง ความเสี่ยงจากการลงทุนกระจุกตัว (High concentration risk) การลงทุนกระจุกตัว ในผู้ออกตราสารรวม

ตราสารของผู้ออกตราสารรายใดรายหน่ึงมากกวา่ 10% ของ NAV รวมกนั ความเสี่ยงจากการลงทนุกระจุกตวัในหมวดอตุสาหกรรมใดอตุสาหกรรมหนึ่ง (High Sector Concentration Risk) การลงทนุกระจกุตวัในหมวดอตุสาหกรรม ต ่า สูง ≤ 20

%, compared to a growth of 1.5% in the previous quarter, according to data from Bank of Thailand and NESDB. This was mainly from contraction of export sector due to sluggish demand in the global market, oil

, medical device business is expected to be growth at an average rate of 8.5-10.0% per year. This growth will be supported by: (i) government policy, focused on promoting investment in the sector through the

esthetics. 2. Overview of operating results in the Quarter 1’2019. From 2018 to the first quarter of 2019, the global economy still has risk factors from international political and economic tensions

Limited (“the Company”) and its Subsidiary (“the Group”) would like to clarify the change in operating result for the second quarter ended 30 June 2019, which changed in revenue and net profit compared with

the reasons are summarized as follows. The result of 1st quarter of 2018 ( Unit: million baht) . Biodiesel Edible oil By-product Palm oil refining service Vessel operating Other income Total revenue

and its subsidiaries’ operating results for the quarter ended June 30th, 2018 Unit: THB Million Q2/2017 Q1/2018 Q2/2018 YoY QoQ 6M2017 6M2018 YoY Total Revenue 42,828 44,226 45,558 6% 3% 86,823 89,783 3