1 1. ANALYSIS OF FINANCIAL PERFORMANCE In 2018, East Water Group had total consolidated sales and services income of 4,220.99 million Baht, decreased by 87.05 million Baht or 2.02% compared to 2017

-4124 MMS-AC62/004 February 22, 2019 Subject Management discussion on 2018 operating results To The President of Stock Exchange of Thailand For 2018 operating performance, which was audited by the

-TRANSLATION- 25 February 2019 Subject : Management Discussion and Analysis for 2018 Attention : President The Stock Exchange of Thailand An overview of the results in the passing The performance in

305 135 - 50 100 150 200 250 300 350 400 450 500 Y2017 Y2018 440 23.9% 21.3% GP 2017 GP TKS GP TBSP % GP Business Overview Year 2018 Performance T.K.S. Technologies Public Company Limited (“Company

). This was mainly contributed by the performance of “Fit Fast Firm” project, which drove down raw material and packaging costs (sugar, cullet, and other packaging materials), optimized product formulation

September 30, 2019 as follows: Performance Overview For the first nine months of 2019, the Company and its subsidiaries had profit attributable to equity holders of the Company amounting to Baht 1,521.73

February 26, 2020 Subject : Management Discussion and Analysis for year and 4th quarter ended December 31, 2019 Attention : President The Stock Exchange of Thailand 1. Operating Performance 1.1

loss from investments (25.58) - Net loss (31.32) (43.05) The performance of Absolute Yoga Co., Ltd., the associated company, has improved from the full operation of new studios opened in 2018 along with

-TRANSLATION- 25 February 2020 Subject : Management Discussion and Analysis for 2019 Attention : President The Stock Exchange of Thailand An overview of the results in the passing The performance in

31, 2019. The details are as follows; Operating Performance 1. Revenue Unit: Million Baht The overview of revenue for 12-month period ended December 31, 2019 by comparing to the last year, the revenue