all three outlets during February 2018. Kitchen Plus: sales was 10.4 Million THB, increased by 10.4 Million THB or 100% YoY, the company’s revenue recognition began in the fourth quarter of 2018

2017 Change % Change Revenue 849.62 707.22 142.40 20% Cost 721.26 596.69 Gross profit 128.36 110.53 17.83 16% Gross profit margin 15.11% 15.63% Other income 0.24 3.80 (3.56) -94% Selling expenses 1.89

revenue, an increase of 14.3 million baht, or 23.9% compared on the same period from last year. Due to increasing of interest expenses from debentures for business operation. V Income tax expenses In the

(coverage ratio) stood at 114.1% for 1Q19, increased from 110.9% as of end of 1Q18. Corporate Income Tax totaled Baht 266 million or 17.8% tax rate. Basic earnings per share at Baht 1.45 per share. 7

the same period of the previous year, as follows: The third quarter of 2019 Vs 2018 1. Revenues The Company’s revenue in the third quarter of 2019 was Baht 857 million, a decrease of 3 percent compared

% Revenue from sales of goods 55 2% 8 0% -85% Revenue 3,000 100% 2,186 100% -27% Gross profit 1,303 43% 905 41% -31% Other income 65 2% 654 30% 912% Selling expense -306 -10% -278 -13% -9% Administrative

Excessive Charge, Service Fees for Wastewater Management 3 Gross Profit from Operation excludes Other Revenue from Utilities Business. 4 Other Incomes mainly consists of Interest Income from Loans to GHECO

-27.27% Other Revenues 11.10 1.44 671.16% 30.08 9.34 222.01% Total Revenue 222.31 268.56 -17.22% 475.93 622.35 -23.53% Cost of goods sold and cost of services 198.98 272.34 -26.94% 416.74 702.12 -40.65

cart rent fee and food and beverage income. In addition to increase golf revenue, this will help to improve the Company’ s image and surrounding housing projects. The new club house already started

THAILAND. Tel: 02-0195000 Performance Revenues Revenues 2nd Quarter % Change 2019 2020 THB Mn % (1) THB Mn % (1) Revenue from Sales of Food & Beverages 739.4 96.6% 314.0 92.8% -57.5% Franchise Fee Income