Page 1 of 11 - Translation - Ref. WINNER 0029/2019 November 14, 2019 Re Management Discussion and Analysis (MD & A) for Q3/2019 period and for the nine-month ended September 30, 2019 To The President

Management Discussion and Analysis, Q1/2020 Page 1/ 7 Jaymart Public Company Limited - Translation - Ref: IR63/007 15 May 2020 Subject: Management Discussion and Analysis Quarter 1/2020 ended 31

, Tambol Ban Lane, Amphur Bangpa-in, Ayuthaya Province 13160, Thailand Tel (035) 350 880 Fax (035) 350 881 Website: www.aapico.com บริษัท อาปิโก ไฮเทค จ ากดั (มหาชน) AAPICO HITECH PUBLIC COMPANY LIMITED Ref

0.1 percent, but this was better than the first quarter of this year which showed negative growth at -7.2 percent when compared to the first quarter last year. Moving to domestic market, the growth in

improved by 2% QoQ. Meanwhile, Moving Annual Total (MAT) Jun 2018 of domestic RTD fruit juice market was Baht 12,119 million, a decrease of 9% YoY resulted from relatively stable purchasing power, while

, or an increase of 313.50 percent. The reason from the year 2018, the allowance for diminution in value of deteriorated and slow moving goods increased to 26.80 million baht. Higher cost than normal

past, so it can not sell the products according to the sales plan. From such factors. As a result, the Company has set aside allowance for diminution in value of defective and slow moving goods to Baht

and product oil price hedging contract 140 6 N/A (138) N/A 147 (442) N/A Gain (loss) from foreign currency forward contracts 2 (4) N/A 95 N/A 13 162 N/A Gain on foreign exchange 274 115 N/A 52 N/A 614

Ref. WINNER 0009/20108 Page 1 of 10 Disclosures on the asset acquisition of Winner Group Enterprise Public Company Limited on share purchase of Aesthetic Zecret (At-Ze) Company Limited (Schedule 1

, private consumption growth turned out to be stronger than expected, boosted by car sales which had accelerated since late 2017 after demand for car purchases was brought forward in response to the 2012-2013