-like basis. THB (mn) 3M 2019 3M 2020 YoY (%) Operating revenue 710 612 -13.7% Cost of sales 466 465 0.0% Gross profit 244 147 -39.9% SG&A 152 431 184.0% SG&A (excl. non-recurring expenses) 152 209 38.0

MANAGEMENT DISCUSSION & ANALYSIS 1Q 2020 15 MAY 2020 U CITY PCL 1Q 2020 - MD&A (for three-month period ended 31 March 2020) 1 U CITY PCL 1Q 2020 KEY FINANCIAL HIGHLIGHTS • Total revenue increased by

YoY (%) (Restated) Operating revenue 624 852 36.5% Cost of sales 256 356 39.1% Gross profit 368 496 34.8% EBITDA 443 352 -20.7% Interest expenses 5 23 401.9% NPAT from operation (excl. NCI) 187 192 2.8

 Health and safety: There were three lost time injuries in Q2 2018. We are committed to our ultimate objective of zero accidents  Revenue: 296mTHB in Q2 2018 compared to 233mTHB in Q2 2017; 549mTHB in H1

the three-month per iod (July 1, 2018 – September 30, 2018) Unit : Million Baht 2018 2017 * Revenue from sales and rendering of services (excluding Fuel Cost) 1,719.03 1,768.59 (49.56) (2.8) Revenue

2019 2Q 2019 QoQ (%) YoY (%) Operating revenue 264 689 690 0.1% 161.5% Cost of sales 103 457 429 -6.2% 317.1% Gross profit 161 232 261 12.6% 62.2% Selling, general & administrative expenses 98 152 185

half Consolidated financial statement ended 30th Sept ended 30th Sept July - Sept 2017 July - Sept 2017 Change % Change Apr - Sept 2017 Apr - Sept 2017 Change % Change Revenue from sales & service 927.44

. 4. Insurance income in the first quarter of 2020 is equal to 71.4 million baht which is the revenue to increase business sales in the insurance business. Selling and Administrative Expenses and Profit

as well as investment in machinery and equipment as exhibited by the decreased in domestic equipment sales and decreased in number of registered vehicles for investment purposes, the decline is also

follows: THB’000 Consolidated F/S ∆% Separate F/S ∆% 2018 2017 2018 2017 Revenues from Sales and Services 2,060,114 2,473,795 -17% 1,640,996 1,631,566 1% Interest income 2,302 1,045 120% 679 36,148 -98