maintenance service to outside is decrease, because there is no maintenance service provided in the fourth quarter. On the other hand, sales of Biomass Power Plants increase totaling Baht 73.2 million from

from residential business. Compared to the preceding quarter, total revenues declined by 56% as there was the recognition of upfront lease payment of Singha Complex incorporated in 4Q17, as previously

274.14 134.56 43.14 177.70 (27.61) 58.36 10.47 2.44 8.62 1 for the Q3/20 Stock Exchan Public Co., L n for the sam ed of Septem ame period p and subsidiar Quarter 3 ember 30, Changes 162.99 (9.39) 153.60

Industry Public company Limited would like to explain the operating result for Quarter 2 ended June 30, 2019 compare with the same period of the previous year as follows For the past 3 months of Quarter 2

- 2018 Balance by Quarter Change Q2–18 Q1–18 Q2–17 Q1–18 VS Q1–18 Q2–18 VS Q2–17 (Million Baht: MB) (MB) % (MB) % Total Revenue 1,029.9 1,044.9 1,345.4 (15.0) (1.4) (315.5) (23.5) Total Operating Expenses

Page 1 of 4 No. RJH – SET 10/2018 12 November 2018 Subject : Management Discussion and Analysis for the 3rd quarter of 2018 ending September 30, 2018 To : The President The Stock Exchange of Thailand

Subsidiaries 2 ASIA’S BOUTIQUE AIRLINE Bangkok Airways Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the third quarter of 2018 ended 30 September 2018 Executive Summary

Balance by Quarter Balance by Quarter Topic Q1-24 Q4-23 Q1-23 Q1-24 VS Q4-23 Q1-24 VS Q1-23 (Million Baht: MB) (MB) % (MB) % Total revenue 1,684.4 1,815.8 1,296.7 (131.4) (7.2) 387.7 29.9 Total operating

in both domestic and international market, consequence to lower crude palm oil (CPO) and crude palm kernel oil (CPKO) prices than that of 2Q/2018. Under these circumstances, in this quarter the

GFPT Public Company Limited Interim Management Discussion and Analysis for the 2nd Quarter 2020 Page 1 of 14 Management Discussion and Analysis This interim MD&A report has been prepared based on the