debt net of cash and cash equivalents Management Discussion and Analysis ( - translation - ) For operating result of 2Q19, ended 30 June 2019 Raimon Land Public Company Limited | 14 August 2019 3 / 8

sale revenue was not sufficient to support the Company’s expenses which effect to the company’s net loss for this period amount of 137.51 million Baht that represented decrease loss 2.83 million Baht or

been all paid up in this quarter. Net Profit   In 2019, the Company had consolidated net profit of THB 59.9mn, an increase of THB 56.9mn, or 1,896.6% YoY, from the net profit of THB 3.0mn in 2018. Net

million and Thai Baht depreciated by 9% from 30.11 THB/USD in the beginning of 1Q2020 to 32.67 THB/USD at the end of this quarter. As aforementioned, the Company posted the net profit of THB 239 million, an

sale revenue was not sufficient to support the Company’s expenses which effect to the company’s net loss for this period amount of 65.92 million Baht that represented decrease loss 566.45 million Baht or

Profit 202 124 (39%) 592 340 (43%) EBITDA 98 65 (34%) 284 150 (47%) Net Profit for the Company 65 28 (57%) 187 38 (80%) Gross profit margin (%) 64.7% 62.6% (2.1%) 65.0% 60.6% (4.4%) EBITDA margin* (%) 31.2

127 (30%) 773 468 (39%) EBITDA 75 60 (20%) 359 210 (42%) Net Profit for the Company 50 17 (66%) 237 55 (77%) Gross profit margin (%) 64.0% 61.3% (2.7%) 64.7% 60.9% (3.8%) EBITDA margin1 (%) 26.5% 28.7

(UNOFFICIAL TRANSLATION) Factsheet Form: Structured Notes and Explanation Factsheet Information as of [day/month/year] 1 * II means institutional investors. HNW means high net worth investors. 1

ed  challenging  by natural  tre pricing was  intr bscribers where es continued to ators  continued ology. Although ctive discount  packages has b ent at affordabl uiring  quality  s net addition  im

glycerine price driven by glycerine supply glut since biodiesel blending rate has been increased by leading biodiesel producers in global market. As aforementioned, the company posted net loss of THB 97