Management Discussion & Analysis (MD&A) Q3/2018 Executive Summary Executive Summary For Q3/2018, Global Power Synergy Public Company Limited (GPSC) (“the company”) earned a net profit of Baht 899 million

for 3rd quarter ended as of September 30, 2021, (1 July - 30 September), which details are as following; Net Profit (Loss) The Company and subsidiaries (Consolidated) realized net profit of 82.41

considered key performance indicators used by operators in the same industry, in the amount of Baht 19,732.20 million, increased by Baht 3,163.1 million or 16.03% from the previous year while the Net Profit

since real estate business is the significant driving force of the economy. The government has thus issued measures to boost the real estate market i.e. tax deduction of up to 200,000 THB for first time

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

1 Forth Smart Service Public Company Limited (FSMART) 3Q19 Management Discussion and Analysis Operational Summary in 3Q19  Net profit was Bt144mn, decreasing 1.1% YoY.  Total revenue from core

and subsidiaries reported Baht 9,744 million in net profit, decreasing Baht 1,173 million or 10.75 percent over-quarter. The decrease could be attributed to non-interest income, which dropped Baht 3,187

..) 3. Income (Loss) before income tax 4. Income tax expenses 5. Income (Loss) after income tax 6. Net profit (Loss) of minority interest 7. Profit (Loss) from ordinary activities 8. Extraordinary Items 9

of 8.96 percent of the net tangible asset value under the consolidated financial statements as at December 31, 2017. Upon combination with other connected transactions over the past six months prior to

136.51 17.06 12.50% EBITDA 352.66 361.11 (8.45) (2.34%) The operating results of the consolidated financial statement for the year period ended December 31, 2019, resulted in increase in net profit of Baht