% 47.1% 1.0% Room revenue 897,063 876,337 2.4% Food and beverage revenue 959,886 892,851 7.5% Other revenues 348,398 359,884 (3.2%) Hotel income 2,205,346 2,129,072 3.6% Cost of sales and services

May 8, 2019 Re : Management Discussion and Analysis for Q1/2019 To : Director and Manager of the Stock Exchange of Thailand Revenue from sales and rendering of services L&E’s consolidated revenue

%. The Company would like to clarify significant changes in the Group’s operating results as follows: 1. Revenues from sales and services for the three-month period of 2018 decreased 39.56% compared to the

of sales and services 283,641 318,018 (10.8%) Operating expenses 250,591 181,112 38.4% Finance costs - Interest expense 3,105 1,356 129.0% Net profit 10,948 165,285 (93.4%) Revenue from the hotel

increased from 158.61 million baht to 1,206.45 million baht or 660.63 percent consisting of - Faucet business : Revenue from sales and services increased from 158.61 million baht to 176.56 million baht In the

decrease Baht 8.97 Million or 3.26%. - Cost of the sales and services from Q2/2018 was 89.50% increased to 91.75% on Q2/2019 or increased 2.25% from sales due to recorded the effect of the change severance

Thailand Pursuant to JMT Network Services PCL. (“the Company”) No. 3/2019 on 9 August 2019, the resolution to certify the financial statements and performance of the Company and the Company’s subsidiaries

sales and services for the six-month period of 2019 decreased 35.67% compared to the same period of 2018. The main reasons were: • Revenues from circulation decreased 8.54% with circulation revenues of

Consolidated ∆% Separate ∆% Q1/2018 Q1/2017 Q1/2018 Q1/2017 Revenues from sales and services 529,514 669,009 -21% 320,648 445,078 -28% Interest income 121 363 -67% 121 8,930 -99% Gain on disposal of assets

2017, the loss was Baht 0.53 million, a decline of 15,684%. The Company would like to clarify significant changes in the Group’s operating results are as follows: 1. Revenues from sales and services for