) (453%) (Gain) loss on exchange rate on debt to equity Conversion - (79) (100%) (Gain) loss on adjustment in value of securities (1) (1) (38%) Bad and doubtful debts expense (Reversal of) 63 (145) 329

Baht. The key reason was from the result of the transfer of 58 residences of MahaNakhon project in Q2 2018 which significantly increased as compared to the same period last year. The Company had total

amortisation 461 474 (3%) Interest income (0) (0) 96% Finance costs 267 237 11% Unrealized loss (gain) on exchange rate (531) (437) 18% Gain on adjustment in value of securities 1 - 100% Bad and doubtful debts

full-year 2019 was THB  3,624.2mn. Of which, THB  499.0mn and THB 3,055.6mn, respectively, were from sales of real estate (transfer ownership to buyers) • Gross profit from sales of real estate in 4Q

of 9M19 was THB 3,066.8mn. Of which, THB  484.6mn and THB 2,556.6mn, respectively, were from sales of real estate (transfer ownership to buyers) • Gross profit from sales of real estate in 3Q19 was THB

benefit plan - Unrealized gain (loss) on change Value of investments in available-for-sale securities -Adjustment for loss on changes in fair value Available-for- sale securities are impairment losses

4.3% YoY to THB 1,462mn mainly due to the expansion of hotel business through new hotels launch, through new acquisitions and the contribution from acquired assets under the Entire Business Transfer of

the amount of EUR 15,684,924 to arcona Management GmbH, and in return received the transfer of ordinary shares in 12 German and Swiss companies as well as the operating lease of 15 existing hotels

contributed of THB 990 million and partial offset with the adjustment in other comprehensive income for actuarial of employee benefit obligations increased by THB 16 million. Management’s Discussion and

adjustment in other comprehensive income for actuarial of employee benefit obligations increased by THB 16 million. Management’s Discussion and Analysis (MD&A) for year 2017 (Revised) 14 Appendix Unit