JAS Asset Public Company Limited Q1/2017 Q1/2018 Change MB. % MB. % MB. % Tax -0.1 -0.1% 3 1.7% 3.1 -3,100.0% Net Profit attribute to Shareholders (Loss) -4.0 -2.2% 0.4 0.2% 4.4 -8.1% Rental and Service

the operation (32.7) (203.8) 171.1 84.0% Gain (Loss) from temporary investment (15.7) (75.2) 59.5 79.1% Profit (Loss) for the year (48.4) (279.0) 230.6 82.6% Net Profit/(Loss) from the year attribute to

3.0 1.7% 3.3 1.9% 0.3 10.0% Net Profit attribute to Shareholders (Loss) 0.4 0.2% 0.5 0.3% 0.1 25.0% Management Discussion and Analysis Q1/2019 Page 2/4 JAS Asset Public Company Limited Rental and

% (82.5) (86.8) (4.3) 5.2% Net Profit attribute to Equity Holder of the Company 119.9 148.5 28.6 23.9% 236.0 293.0 57.0 24.2% Total Revenues The Company’s total income for the second quarter of 2019 equaled

(35.9) (39.3) 9.6% (54.2) (82.5) 52.2% Net Profit attribute to Equity Holder of the Company 124.8 119.9 -3.9% 198.0 236.0 19.2% Total Revenues The Company’s total income for the second quarter of 2018

239.3 -319 -57.1% Finance Cost 71.2 111.9 40.7 57.1% 134.7 210.9 76 56.6% Tax Expenses 59.5 19.4 -40.1 -67.4% 62.4 36.6 -26 -41.3% Net Profit attribute to Equity’s Shareholders. 148.1 44.5 -103.6 -69.9

our food retailing in Vietnam category. We attribute growth in SSSG in our food retailing in Vietnam category to our ongoing turnaround efforts with respect to Big C, which have resulted in improved

UNOFFICIAL TRANSLATION Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. Notification of the Office of the Securities and Exchange Commission No. Sor Nor. 87/2558 Re: Rules, Conditions, and Procedures for Management of Retail Funds, Mutual Funds for Accredited Investors, Mutual Funds for Institutional Funds, and Private Funds ______________________ By virtue of Clause 6, Clause 8, and Clause 9 of the Notification...

merged structure and details for the Company subsidiary’s merger project in Philippines which approved by EGM dated August 10, 2017 in consider to minimize potential tax risks derives in Philippines

982.3 169.9 21.5% (21.8) (2.2)% Profit Attribute to Equity Holders of the Company 133.3 110.9 108.0 22.4 20.2% 25.3 23.4% In the first quarter of 2017, the Company's total revenue increased from Q4-2016