translation adjustment and cash & cash equivalents of subsidiaries which classify as assets held for sale MANAGEMENT DISCUSSION & ANALYSIS 1Q 2019 15 MAY 2019 U CITY PCL 1Q 2019 - MD&A (for three-month period

amortisation 461 474 (3%) Interest income (0) (0) 96% Finance costs 267 237 11% Unrealized loss (gain) on exchange rate (531) (437) 18% Gain on adjustment in value of securities 1 - 100% Bad and doubtful debts

) (453%) (Gain) loss on exchange rate on debt to equity Conversion - (79) (100%) (Gain) loss on adjustment in value of securities (1) (1) (38%) Bad and doubtful debts expense (Reversal of) 63 (145) 329

. Prepaid segment saw a net loss of 276k mainly from seasonal churns of one-time segmented SIMs. However, prepaid ARPU improved 4.6% QoQ to stand at Bt182 due to the price adjustment. Despite heightened price

and at end of this year) / Operating Revenue (Annualised) 643 141 (369) 407* 822 Beginning cash (31-Dec-18) CFO CFI CFF Ending cash (30-Jun-19) *Included translation adjustment of THB 2mn (THB mn

(628,140) 238,487 (363%) Loss (gain) on adjustment in value of securities 4,634 2,188.00 112% Gain from compromise debt (84,615) - - Bad and doubtful debts expense (Reversal of) 11,691.00- 1,620 (822%) Loss

) **Included translation adjustment of (THB -1.6mn) For the twelve months ended 31 March 2018, cash and cash equivalents was THB 757mn, a decrease of 5.3% or THB 42mn. Cash from operating activities was THB

adjustment of (THB 0.1mn) For the three months ended 30 June 2018, cash and cash equivalents was THB 727mn, a decrease of 3.9% or THB 30mn. Cash from operating activities was THB 403mn, increasing by 51.2% or

more than 3,000 million Baht. Accordingly, the Company decided to dispose its assets in order to use that cash flow to solve its debt. Consequently, the Company recognized the adjustment between the fair

. LIQUIDITY AND CASH FLOW (THB mn) *After tax and net tax refund (THB -153mn) and interest expense (THB -33mn) **Included translation adjustment of (THB 2.3mn) For the six months ended 30 September 2018, cash