in available-for-sale of THB 402.4 mm, mainly from decrease in market capitalization of property funds and REITs after the market price decreased during this quarter. 4. Increase in investments in

from the previous year of Baht 113.11 Million for use during the period of projects on hand. Non-current assets; comprising of o Net total of Property, plant and equipment, including intangible assets

decelerated of marketing activities as well as a decrease in space of property expenses. However, the Company still maintained effective operating cost control with cost to income ratio at 38% of total revenues

from (used in) operating activities 46 107 -57% Cash paid from business combination - - - Cash paid for increased investments in joint ventures 0 (10) +100% Acquisition of property, plant and equipment

staff, utility expenses, and depreciation of property, plant, and equipment in the back office. 43 33 Q1/20 Q1/21 19.5% 18.2% • Administrative expenses in Q1/2021 was THB 33 million, decreased by THB 10

joint ventures 0 0 - Acquisition of property, plant and equipment (30) (36) +16% Net Cash flows from other investing activities (2) 23 -107% Net Cash flows from (used in) investing activities (32) (13

range of property development services with the focus on the quality of life of the residents. The emphasis is put on “Vibrant Community” strategy, social and environmental responsibility and sustainable

revenue Cost of sales Cost of goods sold consists of raw material and packaging, salary and wage of production staff, depreciation of property, plant and equipment, transportation and logistics and other

property development services with the focus on the quality of life of the residents managed with “Vibrant Community” concept and develop a home for lower-middle to upper-middle income earners at the

Debt = Interest bearing liabilities – cash and cash equivalent 2) Leverage Q1 uses annualized EBITDA 3) ROFA = (Net profit + Depreciation)/ Average (Q1 2018 and Q4 2017) of property, plant and equipment