page1 from 5 9 May 2019 Subject : Management Discussion and Analysis For the first quarter of 2019 ended March 31, 2019 To : The President The Stock Exchange of Thailand WICE Logistics Public Company

%. 4. Finance cost was Baht 98.21 million, a decrease of Baht 26.26 million or down by 21.10%, due to the lower cost of debt from refinancing bond issued in the second quarter of year 2017 and first

Baht 142.40 million or increased 20%, from Baht 707.22 million in the first half of 2017 to Baht 849.62 million compared with the same period of 2018. The main reasons for the increase were derived from

with the Q2–2017, the total revenue decreased significantly by 315.5 MB or representing a decreased of 23.5% because in the first half of 2018, the Company received a few government projects and those

measuring consumers’ confidence on current economic situation and the next 6 months. The number of foreign tourist arrivals in second quarter and first-half registered an 9.1% and 12.5% growth respectively

recovery, the Company arranged more promotion and marketing events to increase sales amounts in the first six-months periods such as “FN Fair” at head office and branches. This attributes to the increase in

Pattanakarn Rd. Suanluang, Bkk 10250 Thailand E-mail : ir@afteryou.co.th www.afteryoudessertcafe.com Page 2 of 4 For the first half (1H) of 2018, sales increased to THB 399.8 million from THB 325.45 million in

objective of operating a telecommunications business. By having the first type of internet service license (Providing internet services without its own network) from the National Broadcasting and

1 Ref FN. 023/2020 Management Discussion and Analysis For operation of the first quarter of year 2020 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

) Paid up capital as at the Commercial Operation Date of the first phase of the project. (Million baht) U-Tapao International Aviation Company Limited (“UTA”) 4,500 9,000 Percentage of shares in U-Tapao