party products. Note: 1/ Energy Drinks and Sport Drinks 2/ Drinking Water, 3-in-1 Coffee and RTD Coffee Sales of branded products by own manufacture were THB 3,371 million, up by THB 176 million or 5.5

same periods of last year because of operation management and maintenance is performed effectively in accordance with maintenance plan. Solar Energy Power Plants are in the start-up phase with only 3 COD

(up 272.7% YoY) largely as a result of the increase in total revenue and the EBITDA margin rose to 31.5% (2018; 13.0%) • Reported net profit of THB 1,867mn (up 394.9% YoY), from aforementioned higher

, the SSO adjusted the budgeting rate of High Cost Care up by 16.56 percent from 640 baht/person/year to 746 baht/person/year). Other revenue such as rental income and interest income for the quarter

, resulting into delay of planned volume ramp-up and normalized share of loss of Baht 29.1 million for the quarter. As a result, Normalized Share of Profit from Investments in Associates is Baht 221.4 million

provide up-to-date information to employees, suppliers and customers Effect to the Group's Financial Statements This situation significantly affects the Group’s business activities and is significantly

Asawachatroj) Chief Financial Officer FINANCIAL PERFORMANCE

31 MARCH 2020 Not yet due 322 176 Up to 3 months 223 182 3 - 6 months 50 76 6 - 12 months 33 12 Over 12 months 33 13 Total 661 459 Allowance for doubtful debt 9 31 MANAGEMENT DISCUSSION & ANALYSIS FOR

%) Interest-bearing debt to equity (times) 0.44 0.46 0.02 3.9% Yours faithfully, S Hotels and Resorts Public Company Limited - // - (Mr. Chairath Sivapornpan) Chief Financial Officer / Company Secretary

strategy is in place to provide up-to-date information to employees, suppliers, and customers Effect to the Group's Financial Statements This situation significantly affects the Group’s business activities