GLOW’s Shares PAGE 4 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1 2019 Executive Summary On 1 March 2019, the company was selected by the International Business Magazine, which is a leading business and

already been approved: 8 (1) there is a clear fact leading to the consideration that the rules or conditions to be exempted are insignificant to the case and the costs outweigh the benefits derived from

(“the Group”) as follow: Q3-2019 Q2-2020 Q3-2020 9M-2019 9M-2020 Change THB Mn THB Mn THB Mn %QoQ %YoY THB Mn THB Mn %YoY Sales of goods and services 1,142.7 1,139.5 1,182.8 3.8% 3.5% 3,399.0 3,438.0 1.1

-2021 6M-2020 6M-2021 Change THB Mn THB Mn THB Mn %QoQ %YoY THB Mn THB Mn %YoY Sales of goods and services 1,139.5 1,214.9 1,284.4 5.7% 12.7% 2,255.2 2,499.3 10.8% Revenue from finance lease under power

(“the Group”) as follow: Q3-2020 Q2-2021 Q3-2021 9M-2020 9M-2021 Change THB Mn THB Mn THB Mn %QoQ %YoY THB Mn THB Mn %YoY Sales of goods and services 1,182.8 1,284.4 1,362.8 6.1% 15.2% 3,438.0 3,862.1

, consists of unrealised gain on exchange rate of receivable under finance lease agreement, gain on forward contracts and insurance claim. Change QoQ Consolidated financial statements Change YOY Financial

period ended Change Note: 1/ Energy Drinks and Sport Drinks 2/ Drinking Water, 3-in-1 Coffee and RTD Coffee Domestic sales were THB 1,984 million, up by THB 10 million or 0.5% due to an increase in sales

% -0.4% 12.8% 12.6% 0.2% Net profit margin attributable to the owners of the parent 12.4% 12.5% -0.1% 12.7% 12.4% 0.3% Key Change in Segment Grouping In 2019, the Company has changed reportable segments

example, AEON Gift 2020 campaign and AEON shop plus 2019 campaign to redeem the premiums and vouchers, AEON Shop Smart campaign and other privileges with leading shopping malls. For subsidiary in overseas

competitive areas, existing customers were attracted to change an operator by an offering of up to 50% discount for a few months, which caused industry’s ARPU to be pressured. Convergence packages combining