the year, and corporate income tax payable, which rose from taxes on profits generated during the period. Page 9 of 10 Management Discussion & Analysis Q3/2024 A decrease in non- current liabilities of

130,357 130,274 2 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis Financial Statement Summary in 2Q2020 Statement of Comprehensive Income Total Revenue Total

51.0 Revenues from project management 418.1 16.9 142.7 4.1 (275.5) (65.9) Gain on disposals of investments in subsidiaries 213.3 6.2 213.3 100.0 Other income 68.9 2.8 96.9 2.8 28.0 40.7 Total Revenues

project management 195.2 4.7 280.0 8.4 84.8 43.4 Dividend income - - 0.3 - 0.3 100.0 Gain from transfer of right for land purchase and sale agreement 312.0 7.5 - - (312.0) (100.0) Gain on disposals of

from disposals of real estate 862.7 98.3 1,986.7 80.3 1,124.0 130.3 Revenues from project management - - 408.5 16.5 408.5 100.0 Other income 15.2 1.7 78.5 3.2 63.3 416.1 Total Revenues 877.9 100.0

84.3 3,588.4 177.3 Revenues from project management - - 603.7 9.1 603.7 100.0 Gain from transfer of right for land purchase and sale agreements - 312.0 4.7 312.0 100.0 Other Income 30.2 1.5 129.0 1.9

. The revenue of waste treatment has slightly changed while the revenue of real estate business has decreased. The company profits from sales of land held for future development. The company and its

performance of domestic subsidiaries to be considered, the effective corporate income tax rate was 15.6%, rose from 15.3% in the corresponding period last year. 6 Net profits and net profits margin Net profits

Baht was 9.03 Million Baht or 4.27% decrease from the same period last year. Reasons caused the customers order decreased. 2. Other income 2.77 million baht decrease from the same period last year and

10290, THAILAND TEL : (662) 815-7060 8163060-1 , 461-2100-1, FAX : (662) , 461-2102 . %&'. 188 REF.SET: 61-12 10 August 2018 Subject: the explanation of business profits for the quarter of 2/2018 To : the