EBITDA 612 1,062 Net Profit (Loss) (836) 990 HR C HRC Sales (k tons) 1,447 812 HRC Production Volume (k tons) 1,436 876 HRC Average Selling Price (THB./ton) 20,663 18,690 HRC Cash Margin (THB./Ton) 854

812 EBITDA 612 1,062 Net Profit (Loss) (836) 990 HR C HRC Sales (k tons) 1,447 812 HRC Production Volume (k tons) 1,436 876 HRC Average Selling Price (THB./ton) 20,663 18,690 HRC Cash Margin (THB./Ton

debt net of cash and cash equivalents Management Discussion and Analysis ( - translation - ) For operating result of 2Q19, ended 30 June 2019 Raimon Land Public Company Limited | 14 August 2019 3 / 8

increase of 23.5% YoY.  Revenue from Out-of-Home business increased 2.0% YoY to THB 909mn.  Revenue from Digital services business increased 243.6% YoY to THB 299mn.  Net profit was THB 260mn, an increase

492.6 (199.1) (28.8%) 2,459.3 2,880.8 421.5 17.1% Gross Profit/2 1,457.8 1,264.3 (193.5) (13.3%) 4,463.0 4,346.6 (116.4) (2.6%) Net Profit 505.8 363.0 (142.8) (28.2%) 1,559.0 1,446.0 (113.0) (7.2

Microsoft Word - MDA_3Q18_DTC_ENG_V1.3_1-nw_1 Dusit Thani PLC Management Discussion and Analysis 3Q18 and 9M18 P a g e | 1 Executive Summary The Company reported net loss of THB 60 million in 3Q18

sale revenue was not sufficient to support the Company’s expenses which effect to the company’s net loss for this period amount of 137.51 million Baht that represented decrease loss 2.83 million Baht or

been all paid up in this quarter. Net Profit   In 2019, the Company had consolidated net profit of THB 59.9mn, an increase of THB 56.9mn, or 1,896.6% YoY, from the net profit of THB 3.0mn in 2018. Net

million and Thai Baht depreciated by 9% from 30.11 THB/USD in the beginning of 1Q2020 to 32.67 THB/USD at the end of this quarter. As aforementioned, the Company posted the net profit of THB 239 million, an

margin fell to 1.7% (1Q 2019; 9.0%) • Reported net loss of THB 807mn (down 238% YoY), from the aforementioned lower EBITDA as well as higher share of loss from joint ventures and higher depreciation and