expenses 197 193 4 2.1% Interest and Tax expenses 28 36 (8) -22.2% Share of profit from associate and JV 109 31 78 251.6% Net Profit attributable to equity holders 224 146 78 53.4% Total Revenues Total

) 0.48 14.U Profit beiore share loes tom investnent in ioint verifure, financial ccts ard income tax expense 4.98 5.10 2.8 2.22 76.72 Share of loss fom investment in joint venture (1.71) 0.00 0.00 0.00 N/A

349 SJ Infinite I Business Complex, Unit 1507, 15th Floor, Vibhavadi-Rangsit Road, Chompol, Chatuchak, Bangkok, 10900 Tel. 02 075 5667-8 Fax. 02 075 5669 Website: www.eicasia.net Ref. EIC-AD005/2018

Mall in Pattaya, which has been opened since November 2018. 5. In the first quarter of 2019, details of share of profit from investment in associates compared to 2018 are as follows: (million baht) Name

Management Discussion and Analysis for Interim Business Operations 2019 % 2018 % Inc./(Dec.) % Construction Income 150.24 92.91 21.63 87.82 128.61 594.59 Service Income 9.70 6.00 0.41 1.66 9.29

5.52 14.57 Profit before share loss from investment in joint venture and income tax 2.90 2.83 2.87 2.60 0.27 10.54 Share of loss from investment in joint venture - (1.53) - - - - Profit before income tax

3.11 8.87 Profit before share loss from investment in joint venture and income tax 1.48 2.17 1.29 2.34 (1.05) (44.87) Share of loss from investment in joint venture 0.00 (0.52) 0.00 0.00 0.00 N/A Profit

Management Discussion and Analysis for Interim Business Operations 2019 % 2018 % Inc./(Dec.) % Construction Income 44.36 86.52 35.57 96.14 8.79 24.71 Service Income 5.94 11.59 0.00 0.00 5.94 #DIV/0

Company’s business in Quarter 2 is traditionally softer compared to Quarter 1 and 4 due to low tourist arrivals in Phuket during this time of the year. Total revenue for the three-month period increased by

and service income in the first quarter of 2020 decreased by 3.46%. 5. In the first quarter of 2020, details of share of profit from investment in associates compared to 2019 are as follows: (million