Page 2 Management Discussion and Analysis 1. Significant events in the third Quarter of 2018  The progress in construction projects - Xayaburi Project, a project of the Xayaburi Power Company Limited

LOGISTICS COMPANY LIMITED ACOMMERCE PTE. LTD. ACOMMERCE SDN. BHD. ACTS STUDIO COMPANY LIMITED ADDTECH HUB PUBLIC COMPANY LIMITED ADVANCE AGRO ASIA COMPANY LIMITED ADVANCE AGRO POWER PLANT COMPANY LIMITED

Revenue2 26.8 1.4 1,883.2% - Power Business 1.4 0.0 N/A Costs of Sales and Services (276.0) (273.0) 1.1% Gross Profit 183.4 149.0 23.1% Gross Profit from Operation3 156.6 147.6 6.1% Other Income4 19.4 16.8

-Wallet usages, and the increase in number of competitors’ kiosks, as well as a decrease of the middle-to-low income population’s purchasing power. The details of total revenue are as follows: 1) Income

Lime made a number of advances including launching dolomitic lime, starting the construction of a solar project, which will reduce the total power consumption by 15% from H2 2020 and expansion on the

% shares in Raimon Land Nineteen Co., Ltd. from KPN Land Co., Ltd. (“KPNL”), who is the Company’s connected party, to own and have the absolute controlling power in the project SHAA Asoke. 3) approved

) enhancing the variety of our media portfolio and expand our media coverage and 3) supporting the business operation of MACO in Malaysia, and 4) strengthening overall bargaining power from increased economies

power of those consumers relying on agricultural income have been affected by the drought and low commodity prices. However, the impact on private consumption is expected to be eased to some extent by

income. The income base has been expanded to include rental property business as it is one way to efficiently manage the Company’s assets while purchasing power is decreasing as well as to reduce risks

the Expressway Authority of Thailand, and the construction project of three power stations according to the transmission and distribution system development project of the Provincial Electricity