THB 167.09 million, dividend received from subsidiary were THB 19.48 million. Profit attributable to equity holders of the Company of THB 24.94 million compared to the same period of the previous year

: /1Other income includes dividend income, interest income, gain from exchange rate, and other income. 2 Revenue from Sale of Goods The table below presents the Company’s revenue from sale of goods breakdown

Proportion of assets acquired x 100 NTA of the Company = 12,203,461,532 x 4.17% x100 6,382,711,494 = 7.97% 3.2 Net Profit = % Net Profit of RAM x Proportion of assets acquired x 100 Net Profit of the Company

to an increase of net profit and a decrease of shareholders’ equity from interim dividend payment and treasury stock. 6 Forth Smart Service Public Company Limited (FSMART) 3Q18 Management Discussion

288,339 264,233 276,560 (16,294) (5.7) Gross profit 83,901 99,845 81,524 83,842 (15,944) (16.0) Other income 3,618 3,248 4,410 4,122 370 11.4 Profit before expenses 87,519 103,093 85,934 87,964 (15,574

Expenses (9,529) (10,050) (143) (174) (9,672) (10,224) (552) (5%) Share of Profit (Loss) 1,549 1,652 4 (9) 1,553 1,643 (90) (5%) Operating profit (loss)* 2,466 2,619 (21) (25) 2,445 2,594 (149) (6%) Impact

Revenues and Net Profit Consolidated FS Q1/2019 Q1/2020 Change MB. % MB. % MB. % Revenue from contracts with customers 89.9 16.3% 97.1 12.7% 7.1 7.9% Interest income and dividend income 336.4 60.9% 362.8

Gross profit 163.53 244.53 (81.00) -33% Gross profit margin 9.78% 15.47% Other income 1.73 5.33 (3.60) -67% Selling expenses 3.68 3.36 0.32 10% Administrative expenses 116.87 111.43 5.44 5% Allowance for

12.6 million, initial public offering THB 225 million and net profit THB 48.6 million, deducted by THB 37.5 million dividend payment and share issue cost THB 8.2 million. Yours sincerely, (Mr. Tanat

year were as highlighted below ; (Unit : Million Baht) Q2/2017 Q2/2016 % Change Sales 521 501 4 Gross Profit Margin 24% 29% -5 Selling and Administrative Expenses 53 55 -4 Financial Cost 8 9 -11 Net