sales revenue [-2%], stronger THB/USD exchange rate [-2%], change in product mix [-1%] and higher labour and salaries expenses [-1%] . Page 1 of 3 Operating Profit Analysis Year-on-year operating profits

FX fluctuation normally causes no material impact on overall performance of the company. B.Grimm always has well-planned strategies to manage the FX risk as follows; 1) Natural hedging where the ratio

Position 1. Total asset, the company had total asset as at December 31, 2017 amount of Baht 758.84 million decrease from December 31, 2016 by Baht 10.63 or 1.38% , the details of the change are as follow

production line of flexible packaging and the machine setup process is not complete and new employee lack of expert skill and the use of raw material is inefficient, cause a high production cost. 3. Selling

% of NNP respectively. ABBREVIATION & OUR PROJECTSFINANCIAL PERFORMANCE FINANCIAL POSITION PROGRESS OF PROJECTS UNDER CONSTRUCTION EXECUTIVE SUMMARY EXECUTIVE SUMMARY 2 9M’2017 9M’2018 % change Q2’2018

due to THB 531 million positive change in foreign exchange gain (loss) and higher operating profits. Past Performance Analysis Revenue Analysis Group Sales increased 5% in 2017 at THB 21,551 million

First Name Last name Former First name / Last name (if any) (in Thai) Title First Name Last name Date of Change Former First name / Last name (if any) (in English) Title First Name Last name Date of

) (50.42) 2) A change of main raw materials price The effect from copper usage was about 1.2 % on product sales price in 1Q19. Table 2: Raw material prices and purchased volume 1Q 2019 4Q 2018 Q-o-Q Effect

) Separate financial statements 2020 2019 % Change Sales and Service Income 1,806.35 2,055.48 (12) Other income 51.75 17.71 192 Less Cost of Sales and Services 1,496.81 1,647.83 (9) Selling and Administrative

Million for Last Year Quarter mainly due to increase in loss on devaluation of Finished Goods and Raw Material by THB 158 Million and lower Foreign Exchange Gain by THB 95 Million compared to Last Year