Jarutrakulchai) Senior Executive Vice President Finance and Accounting Department Tel 0-2677-7000 Fax 0-2677-7011-2

Expenses Q3/2018, the Company and its subsidiaries had the expenses of 18.5 MB decreased from Q3/2017 at 0.5 MB by 2.5 percent (18.1 MB in Q3/2017) mainly increased from travelling expenses etc. • Finance

25.81 81.63% Selling expenses 5.99 3.95 2.04 51.65% Administrative expenses 18.80 14.07 4.73 33.62% Finance cost 2.13 0.88 1.25 142.05% Profit before income tax expenses 73.02 27.11 45.91 169.35% Income

18.94 14.96 26.60 Finance cost 10.12 7.04 43.75 Profit (loss) before income tax income (expenses) (0.23) 23.20 (100.95) Income tax income (expenses) 1.35 (2.60) (151.92) Profit for the period 1.13 20.60

664.86 18.45 641.55 17.77 Fees and service expenses 131.59 21.50 131.54 21.50 Finance costs 24.49 1.31 24.49 1.31 Bad debt and doubtful accounts (reversal) (0.10) (5.83) (0.10) (5.83) Loss from impairment

September 30, 2018, there was about 1,162.17 million baht of signed contracts not yet recognized as income(Backlog) in MARQUE Sukhumvit project. - Finance cost in Q3/2018 amounted 115.11 million baht slightly

in the previous year and a decrease in EBITDA from Hotel Business. Dusit Thani PLC Management Discussion and Analysis 3Q18 and 9M18 P a g e | 4 Finance Cost In 3Q18, Finance Cost was THB 15million

22.60 158.87 22.60 Finance costs 22.16 (2.32) 22.16 (2.32) Bad debt and doubtful accounts (reversal) (0.05) 0.05 (0.05) 0.05 Other expenses 308.85 (4.31) 341.00 (2.26) Total expenses 1,060.78 (77.94

%) Administrative expenses (23.09 ) (22.26 ) 0.83 (3.73%) (34.22%) (39.43%) Other Expenses Doubtful accounts (0.57 ) (0.66 ) 0.09 13.64% (0.84%) (1.17%) Finance costs (13.07 ) (17.95 ) (4.88 ) 27.19% (19.37%) (31.79

%) (1.14%) Loss from litigation (0.61 ) 0.61 N/A 0.00% (0.56%) Finance costs (26.13 ) (36.12 ) (9.99 ) 27.66% (21.50%) (32.87%) Tax income (expense) (3.16 ) 0.00 3.16 N/A (2.60%) 0.00% Profit (loss) for the