and esthetics. 2. Overview of operating results for Quarter 1’ 2020. Thai’s economy has trend to growing lower continuously, Especially Service & Travel business which loss a lot of travellers in this

Public Company Limited (“the Company”) would like to submit the management discussion and analysis of the operating results for the nine months of 2020 ended September 30, 2020 as follows: Overall Group

operating performance of Hospitality business Hotel 1Q18 4Q18 1Q19 Santiburi Beach Resort & Spa No. of room 77 96 96 Occupancy rate (%) 81% 45% 67% Rev Par (THB) 12,996 4,975 9,548 Phi Phi Island Village No

to welcome its first guests in September and no revenue from operation has been realized in 2Q19 performance. Page 4 of 7 Management Discussion and Analysis 2Q2019 2Q19 operating performance of

% Administrative expenses (9.68) (8.59) 1.09 -11.28% (30.12) (25.84) 4.28 -14.21% Profit from operating activities 26.79 11.03 (15.76) -58.83% 85.23 48.96 (36.27) -42.56% Share of gain(loss) on investments in

to owner of the Company 5,587.60 6,038.55 (450.95) (7.5) Earnings per share (Baht) 3.85 4.16 Fuel Cost 30,302.81 31,344.26 * Restated Increase (Decrease) % 2018 2017 * The operating result according to

profit 27.70 55.84 53.53 Operating expenses 13.98 27.19 44.21 EBIT 13.72 28.64 9.32 Other revenue 0.68 1.30 0.28 Finance cost 0.00 0.96 1.38 Income tax expense 2.98 8.04 2.66 Net profit(loss) 11.42 20.94

. Miss Nilrat Jarumanopas 1 0.00 4. Mr. Chatchaphol Prasopchoke 1 0.00 Total 1,800,000 100.00 Summary of financial position and operating results  Table summarizing operational performance and financial

operational results, as well as other information relating to the condition of such funds at each particular period, such as, details of investment, financial position, expenses and opinions of the fund

regularly evaluate the performance of the respective funds and disclose the operational results, as well as other information relating to the condition of such funds at each particular period, such as