expenses 1,557.6 1,199.2 1,901.2 358.4 29.9 (343.6) (18.1) Profit for the period 121.6 166.2 136.9 (44.6) (26.8) (15.3) (11.2) In Q2-2022, The Thai Economy improved from the previous quarter and the number

Page 1 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Executive Summary Bank of Thailand, in late March 2020, slashed its forecast for Thai economy from the

Company has recorded an allowance for expected credit losses (Allowance for doubtful accounts) for receivables overdue in accordance with the Thai Financial Reporting Standards No. 9 “Financial Instruments

and Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between the two languages, the Thai

/ Impact from the adoption of Thai Financial Reporting Standards 16 Leases (TFRS 16) since 1 January 2020 which caused higher depreciation and interest expenses (net after tax). Operating Highlights Q1/2019

Thai language version is the definitive and official document of the Tender Offeror and shall prevail in all respects in the event of any inconsistency with this English language translation.” Amendment

6M’2019 to Baht 51 million, primarily due to 1) change in accounting method for BGYSP earnings contribution from equity method to consolidation method after raising stake from 49% to 100% in Q3’2018, 2

extend tenors. Most Innovative Bond Deal Award from The Thai Bond Market Association In 21 February 2019, BGRIM was awarded the Most Innovative Bond Deal from The Thai Bond Market Association. This is the

quarters (equity only) 4/ Calculated from the total consideration value and other expenses e.g. tax and stamp duty The maximum size of this Transaction is 11.74% calculated on the basis of NTA as indicated

Fax. 0 2204 2616 Statement of Financial Position (Baht) Liabilities and shareholders’ equity Liabilities Trade and other current payables 65,975.77 Total current liabilities 65,975.77 Long-term