MANAGEMENT DISCUSSION & ANALYSIS 2019 14 FEBRUARY 2020 U CITY PCL 2019 - MD&A (for the year ended 31 December 2019) 1 U CITY PCL 2019 KEY FINANCIAL HIGHLIGHTS • Total revenue increased by 53.4% YoY

respectively, with the amount was recorded at the same level.  Financial costs The Company had the financial costs for the year 2018 and 2017 amounted to THB 475 million and THB 271 million in respectively. The

% Finance costs 475 271 75% Total expenses 31,016 15,275 103% Profit (loss) for the year (836) 990 (184%) Basic profit (loss) per share (in Baht) (0.060) 0.086 (170%) Table 4: Summary of Financial Results 14

คำอธิบายและการวิเคราะห์ของฝ่ายจัดการ 8 August 2019 Re: To clarify the financial statements as of 30 June 2019 To: President The Stock Exchange of Thailand WHA Corporation Public Company Limited (the

Osotspa Public Company Limited Q2’19 and 1H’19 Management Discussion & Analysis 14 August 2019 Q2’19 and 1H’19 Management Discussion & Analysis Page 1/6 Financial Highlights - Q2’19 Net profit* was

19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Management Discussion and Analysis of Business Operation for Q1/2019

administrative expenses totaling Bt2,530. 6 million, an increase of Bt259. 9 million or 11. 4%(y-o-y) and operating profit before financial costs, EBIT amounted to Bt1,424.5 million, a decrease of Bt114.4 million

Limited and its subsidiaries would like to notify the operating results stated in consolidated financial statements for the year 2019. The details as follows: The Structure of Revenues R&B Food Supply

before financial expense and income tax expense 200.2 704.4 504.2 251.85 407.2 1,230.1 822.9 202.09 Financial Expenses 2.4 1.9 ( 0.5 ) (20.83) 5.1 3.2 ( 1.9 ) (37.25) Profit before income tax expense 197.8

equivalent to 13.54% as per the method of total value of consideration; which is calculated based on the information from the reviewed 9-month period financial statements of the Company ended September 30