2017, the Company is continually developing its current real estate projects: MahaNakhon, MahaSamutr, and Nimit Langsuan projects. Despite of competitive in pricing action, the Company has handover 33

from real estate sales, which was the main source of income for 2019. In this regard, the analysis of the operating results of the Company could be explained as follows: Rental and Service Income and

criteria Security Type --- Not Specify --- Common share Warrant-Preferred share Real Estate Investment Trust (REIT) Infrastructure Fund Property Fund Debenture Note Derivative Warrants Securitization

criteria Security Type --- Not Specify --- Common share Warrant-Preferred share Real Estate Investment Trust (REIT) Infrastructure Fund Property Fund Debenture Note Derivative Warrants Securitization

criteria Security Type --- Not Specify --- Common share Warrant-Preferred share Real Estate Investment Trust (REIT) Infrastructure Fund Property Fund Debenture Note Derivative Warrants Securitization

criteria Security Type --- Not Specify --- Common share Warrant-Preferred share Real Estate Investment Trust (REIT) Infrastructure Fund Property Fund Debenture Note Derivative Warrants Securitization

criteria Security Type --- Not Specify --- Common share Warrant-Preferred share Real Estate Investment Trust (REIT) Infrastructure Fund Property Fund Debenture Note Derivative Warrants Securitization

criteria Security Type --- Not Specify --- Common share Warrant-Preferred share Real Estate Investment Trust (REIT) Infrastructure Fund Property Fund Debenture Note Derivative Warrants Securitization

criteria Security Type --- Not Specify --- Common share Warrant-Preferred share Real Estate Investment Trust (REIT) Infrastructure Fund Property Fund Debenture Note Derivative Warrants Securitization

229.91 242.67 3.10 1.3% 1.2 Real estate 8.64 27.28 18.17 (18.64) -68.3% 1.3 Total income 241.65 257.19 260.84 (15.54) -6.0% 2. Gross profit (% of sales) 2.1 Construction material 77.95 (33.5%) 83.77 (36.4