Page | 1 Management Discussion and Analysis Q2/2020 JMART Management Discussion and Analysis Q2/2020 Synergy Digital Transformation eX Growth Business Model Page | 2 Management Discussion and

& Calpis grew 2.7% YoY. Total Personal care continued its momentum with 11.5% growth YoY, with 42.8% growth in CLM markets. International business grew 1.5% at constant FX rate, driven by Myanmar growth

decline in mobile revenue. Fixed broadband business grew robustly from work- from-home trend amidst intense price competition. With solid subscriber growth offsetting ARPU decline from low price plan and

operation efficiency increase, kiosk location management, new service adding, and m oney transfer transaction growth. The Company focuses on vending machine & distribution business to strengthen its business

, medical device business is expected to be growth at an average rate of 8.5-10.0% per year. This growth will be supported by: (i) government policy, focused on promoting investment in the sector through the

Property Business 2. To enable continuous growth in the Company’s assets, profits, and cash flows. 6. Sources of Funding Internal Working Capital 7. The Board of Directors regarding the transaction. The

the enhancement of our business capabilities to achieve sustainable growth and maintain our market leadership over the long term through collaboration and synergy with other companies within

revenue of Bt33,293mn, improving 2.9% YoY and 1.6% QoQ, driven by strong growth in fixed broadband and non- mobile enterprise business together with a recovery of mobile business. Mobile business improved

7,698 mn, up by 5.2% YoY with a 6% YoY growth in net profit to THB 2,483 mn. Establishment of a Joint Venture to support business expansion plan On 5 September 2017, the Company established a new joint

are as follows; Operating Performance 1. Revenues Unit: Million Baht In general of the year 2017, the Company could generate total revenue with growth rate 6 percent that came from the growth of