* Note Please find further information in the consolidated financial statements. 1 August 11th, 2020 Subject: Management Discussion & Analysis (MD&A) for the 2nd quarter of 2020 Attention: The

Management Discussion & Analysis Page 6/7 Financial Ratio Analysis 4Q18 4Q17 2018 2017 Profitability Ratios Operating gross profit margin (%) 34.5 32.7 32.4 33.0 Operating EBITDA margin (%) 20.6 11.5 19.5 18.9

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หน้า 1 จาก 1 Translation February 22, 2019 Subject: Management explanation and analysis for Year ended 31 December 2018 Attn: The Managing Director, the Stock Exchange of Thailand Pacific Pipe Public

Translation August 9, 2017 Subject: Management explanation and analysis for Quarter ended 30 June 2017 Attn: The Managing Director, the Stock Exchange of Thailand Pacific Pipe Public Company Limited

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) million or (2%) from Baht 383 million in Q2/2019 to Baht 374 million in Q2/2020. The main decrease was derived from the engineering service. • Overall gross profit margin increased from 9.1% to 15.0% or

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