cost control. Net profit ( pre- TFRS 16) declined - 23% YoY, - 6. 5% QoQ from unrealized foreign exchange loss and increasing D&A, while excluding foreign exchange effect net profit declined - 21% YoY

211.2 19.5% 131.0 11.3% Cost of Sales & Service 1,047.7 803.3 893.6 244.4 30.4% 154.1 17.2% Revenues and Costs of Sales and Services The results of operations of the Company in Q2-2017, with revenues from

[1Q19 VS. 4Q18] [1Q19 VS. 1Q18] FX: THB/USD 31.3204 32.5876 31.5288 Sales Revenue, THB 3,113.9 3,208.7 -3.0% 3,440.2 -9.5% [ Sales Revenue, USD $99.4 $98.5 +1.0% $109.1 -8.9% ] Cost of Sales 2,457.1

, it found that the decrease rate of profits was higher than the decrease rate of revenues due to some part of the selling and administrative expenses, which was a fixed cost that continues to occur even

[2Q20 VS. 1Q20] [2Q20 VS. 2Q 19] FX: THB/USD 31.6345 31.1053 31.3450 Sales Revenue, THB 2,127.5 3,259.7 -34.7% 2,992.8 -28.9% [ Sales Revenue, USD $67.2 $104.8 -35.8% $95.5 -29.6% ] Cost of Sales 1,740.9

insurance 45.1 66.4 47.2% 82.4 137.8 67.2% Total income 591.8 762.4 28.8% 1,144.3 1,526.8 33.4% Cost of service 229.2 209.8 -8.5% 426.4 426.4 0.0% Underwriting expenses 59.6 51.3 -13.9% 92.2 110.8 20.1% Gross

sales during the first 6-month period of 2020. Cost of Sales and Gross Profit For the 6-month period ending on 30 June of 2019 – 2020, the Company’s costs of sales were THB 2,270.98 million and THB

Service 202.07 100.78 101.29 100.51 - Fabrication and Other service 93.22 119.78 (26.56) (22.17) Cost of construction contracts (561.51) (368.25) 193.26 52.48 Gross profit 50.32 46.09 4.22 9.15 Other income

1: Overall Financial Performance Unit: million baht Jan-Mar 2019 % Jan-Mar 2020 % Change % YoY Revenue 132.54 100.0% 179.21 100.0% 46.67 35.2% Cost (73.41) (55.4%) (93.71) (52.3%) (20.30) 27.7% Gross

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE For