Analysis (MD&A) 3 Q2/2020 Operating Results Overall operating results of the Company and its subsidiaries (unit: THB million) Q2/19 Q1/20 Q2/20 change +/(-) 6M/19 6M/20 Change +/(-) YoYYoY QoQ Operating

half of 2019. PAGE 7PAGE 7 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q2 2019 Operating Results Overall Operating Results of the Company and its Subsidiaries 1 Q2/18 Q1/19 Q2/19 Change +/(-) 1H/18 1H/19

% YoY and 8% QoQ, since fundamental factors supporting the overall purchasing power remained soft and did not cover all areas, especially in the low income consumers, although overall private consumption

statement ended 30th Sept ended 30th Sept July - Sept 2020 July - Sept 2019 Change % Change Apr - Sept 2020 Apr - Sept 2019 Change % Change Revenue from sales & service 518.91 745.69 -226.78 -30.4% 930.49

have risen abruptly, especially the rapid evolution of digital technology, intensified effects of climate change, and regulatory changes in the financial business. To cope with these issues, most

1 Ref: AC.006/2019 25 February 2019 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

http://www.goldenlime.co.th/ mailto:glmis@goldenlime.co.th Golden Lime Public Company Limited Management Discussion and Analysis For the period ended 30 June 2017 1 SUTHA 1. Overall Operating Results In

Logistics Public Co., Ltd. (“NCL” or ("the Company") slightly gained less revenue than the previous year around 1.49% due to poor overall economic situation at the beginning of the year. NCL tried to follow

margin of 14.5% from the second quarter of 2018. The increase in the overall gross profit margin was mainly driven by the increase in the house brand revenue contribution that grew in conjunction with the

1 Ref: AC.017/2018 14 May 2018 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating