” or “we” or “our” or “us”) would like to inform management discussion and analysis for its results of operations from the consolidated financial statements for the six months period ended Jun 30, 2019

(1H 2019: 267.79mb), an increase of 78.56mb or 29.3%. Revenue from HR Solutions contributed 87.66mb or 41.0% to our growth year-on-year, largely because we T.662 636 6999 F.662 646 4200

1 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis Operational Summary in 2Q20 (affected by Covid-19 pandemic and measurements from government) • Net

Page 1 from 5 Management Discussion and Analysis Performance for Quarter 3/2020 WICE Logistics Public Company Limited Performance Unit : million baht Statement of financial position Q3/2020 Q3/2019

expenses (7.95) (9.36) (1.42) 17.85% (15.79) (18.47) (2.68) 16.98% Other expenses (1.54) (1.10) 0.44 -28.39% (1.47) (2.25) (0.79) 53.66% Profit from operating activities 12.91 1.22 (11.70) -90.58% 37.93 3.84

(loss) from investment in associates and joint venture 375.4 604.1 -228.7 -37.9% Share of profit (loss) from investment in associates and joint venture 44.4 122.8 -78.5 -63.9% EBIT 419.8 726.9 -307.1

passenger, increasing by 6.6% from 25.7 million passenger in Q1/2017. For the total multi-products fuel transportation volume of FPT in Q1/2018 was increased by 3.0%(y-o-y) to 1,254 million liters from 1,217

1.54% from the same period of previous year. The total revenue of each operating segments for the nine-month period ended 30 September 2019 of the Company and its subsidiaries had changed from the

operating performance of the company more than 20% as follow: Revenue Total Revenue of the Company and subsidiaries for Year ended December 31, 2019 when comparing with the year 2018 increased from THB 333.40

Highlights - FY19 Net profit* was at THB 3,259 million (+8.4% YoY), with net profit* margin of 12.7% (+30 bps YoY), where the improvement mainly came from growth in revenues of core businesses and favorable