Glass Public Company Limited Page 2/2 Management Discussion and Analysis Total Expenses (Million Baht) Quarterly Change Six-month End June 30, Change 2/2018 2/2017 % 2018 2017 % Cost of goods sold 367.3

Baht, increasing 50.81% compared to the same period last year due to the adjustment of decremented provision and doubtful accounting policy to reflect the current assets value. 2. Cost of sales and

) (1,351.49) (3,837.04) (3,773.22) Cost of sales and services (1,123.90) (1,148.18) (3,369.21) (3,321.51) Cost of sales electricity (44.38) (14.82) (130.12) (36.59) Selling expenses (4.60) (12.82) (21.12

Baht 280.42 million, which decreased by 35% compared to the same period of last year. The advertising revenue from TV business decreased 21% and New Media decreased 79%. 2. Cost and expenses for the nine

13,657 % Change 34.15 43.11 22.22 2.49 71.58 controlled the volatility of raw material prices. In addition, the production and sales in this quarter decreased the cost per unit. • Sales Expenses Q3/2018

products of the subsidiaries. - Net Loss was 3.62 million Baht decreased from the previous year by 13.71 million Baht or 135.82%. Majority cost increasing was caused from the company has recorded to the

costs of sales and services was ฿ 457.41 million, ฿ 21.55 million decreasing or 4.50 %. It is noticeable that the revenue from sales and services of the company has been decreasing as well as the cost of

children books decreased by 33%. 2. Costs and expenses for the first quarter 2018 decreased by 36% compared to the same period of 2017. The main reasons were:  Cost of goods sold and rendering of services

57% Dividends 185 169 16 9% 370 335 35 11% Total expenses 499 379 120 32% 1,613 1,140 473 41% Cost of sales 385 295 90 30% 1,277 879 398 45% Cost of services 16 3 13 401% 25 13 12 87% Selling expenses

1 57 .3 5 million or increased 13.12 when compare to the same period of 2017, due to the increasing of the quantity of Sales. 2. Cost of goods sold was Baht 1 ,2 8 0 .9 7 million, the gross profit