Page 1 of 4 No. RJH – SET 16/2019 11 November 2019 Subject : Management’s Discussion and Analysis for the 3rd Quarter of 2019 To : The President The Stock Exchange of Thailand Rajthanee Hospital

, offering and listing the ordinary shares from the exercise of CCET-WC on the SET. However, the Company shall not extend the tenor of Warrants nor change exercise price and exercise ratio; except any

million or decrease 22.57%, this is due to the company set measures to control appropriate spending. 4. Administrative expenses In Q2/2017, the administration expenses was Baht 12.88 million compare with

its subsidiary for the second quarter ended June 30, 2019 which the details are as follows: Unit: million Baht For 3-month period (Apr-Jun) 2019 2018 Change % Increase (Decrease) Revenue from sale of

and its subsidiary for the third quarter ended September 30, 2019 which the details are as follows: Unit: million Baht For 3-month period (July-Sep) 2019 2018 Change % Increase (Decrease) Revenue from

difference in the procedures to the extent that it will not materially change the work system and personnel provided in the application; (2) the rules and regulations of the derivatives exchange necessary for

from reversal of inventory reserve for year 2016 from the selling inventory which already recorded inventory reserve, personnel expense to support business expansion, expense related to SET compliance

milli Company’s the Comp has a good ht which in y’s net pro any group ca Change % 78.5% 50.8% -98.7% 15.8% ember 2017 r Ending 30 /2017 on 9 he Compan hich has alr ows: es for the 3r ion baht, w net

, increased from the same period of 2016. The increase was attributed to the personnel expenses to support business expansion, expenses related to the Company in SET. 96.84% 95.62% 3.16% 4.38% 9M16 9M17 Sales

million, respectively, as a result of marketing events couple with the increase in operating expense due to the expenses of new outlets. The company focuses on the sustainable growth, thus, set up a