., Km. 39.5 Bangpoomai, Amphur Muang Samutprakarn, Samutprakarn 10280, Thailand Tel. 66 2323 1085..96 Fax. 66 2323 9283 23 February 2018 Subject: Management Discussion and Analysis (MD&A) of the year 2017

1 Forth Smart Service Public Company Limited (FSMART) 2Q19 Management Discussion and Analysis Operational Summary in 2Q19  Net profit was Bt145mn, decreasing 3.4%YoY  Total revenue from core

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whether or not the analysis is fundamental or technical, in conjunction with such consultation, and shall mean an ASEAN investment analyst as well; “ ASEAN investment analyst ”9 means a person eligible to

investors and eligible to analyze investment related to the value or appropriateness for trading or investing in capital market products whether or not the analysis is fundamental or technical, in conjunction