Explanation and Analysis Report of the Financial Positions and Result of Business Operations To : President of The Stock Exchange of Thailand The Explanation and Analysis Report of the Financial Positions and

13.5% Net profit (loss) attributable to equity holders 402 411 -8 -2.0% Net profit (loss) attributable to equity holders Margin (%) 5.9% 7.2% -1.3% Net profit (loss) attributable to equity holders

(loss) from associates and JV (26) 159 (185) -116.4% Net profit attributable to equity holders 216 397 (181) -45.6% Total revenues in Q1 2019 were slightly lower than last year, primarily due to lower

conversion price is lower than 90 percent of the market price during the period of 7-15 business days prior to the date of the debt to equity conversion, ACO I will not sell the newly issued ordinary shares

% yoy. despite expanding business activities. This was the result of cost control measures particularly staff and supplies. In addition, during the same quarter of last year, there was non-recurring

to postpone such announcement to the next business day following the day on which the management company is able to determine the fair value of equity instruments issued by PTT Public Company Limited

share of net profit from investment by equity method and gain from currency exchange. The hotel business accounted for 86.5% of total revenue. Hotel management business accounted for 2.6%. Educational

-68 -22 -47 216.3% Net profit (loss) Attributable to Equity Holders 601 235 366 156.1% Net profit (loss) Attributable to Equity Holders Margin (%) 8.0% 5.3% 2.7% Net profit (loss) attributable to equity

records and its disclosure of liabilities in the financial statements as previously reported in the application for business rehabilitation. The results of the special audit must be disclosed within 30

since mid of the quarter)  Net profit was B127mn, decreasing 15.4% YoY – from Covid-19 pandemic and effect of new accounting standard adoption of Bt1.41mn.  Total revenue from core business was Bt729mn