14, 2020, Trinity Securities exercised its rights in purchasing common shares for capital increase from the company in the amount of 217,042,300 shares at Baht 17. 50 per share, in order to return all

mentioned. Excluding such non- recurring income, 1Q18 revenues would have grown 9% QoQ, mainly from stronger performance of hotel business. Management Discussion and Analysis 1Q18 Consolidated Financial

like to report the operating results of the Company and its subsidiaries for the first quarter of 2020, ended March 31, 2020 as follows: Statement of comprehensive income Statement of comprehensive

2,872.8 2,064.3 255.3 Share of loss from investments in joint ventures - (218.4) (218.4) 100.0 Gross profit before financial expense and income tax expense 808.5 2,654.4 1,845.9 228.3 Financial Expenses 6.8

374 -100 -26.68% Share of profit (loss) from Investment in Associates and Joint Venture 64 49 15 30.75% EBIT 339 423 -85 -20.02% Interest Income 1 9 -8 -86.38% Finance cost -87 -93 6 -6.86% Income tax

exchange rate (6.14) - - - (6.14) - Finance costs (17.10) (20.16) - - (17.10) (20.16) SHARE OF LOSS OF INVESTMENT IN JOINT VENTURES ON EQUITY METHOD (1.47) (2.79) - - (1.47) (2.79) INCOME (LOSS) BEFORE TAX

Profit 59.13 44.6% 85.50 47.7% 26.37 44.6% SG&A (20.92) (15.8%) (28.47) (15.9%) (7.55) 36.1% EBIT 38.21 28.8% 57.03 31.8% 18.82 49.3% Share of Gain (Loss) in Associates (0.40) (0.3%) 0.43 0.2% 0.83 (207.5

31.1 34.1 Total Expenses 1,595.3 64.5 2,436.2 70.5 840.9 52.7 Profit before share of loss from investments in joint ventures, finance cost and income tax expenses 878.4 35.5 1,017.1 29.5 138.7 15.8 Share

from investments in joint ventures, finance cost and income tax expenses 1,444.8 34.5 1,075.6 32.2 (369.3) (25.6) Share of loss from investments in joint ventures 86.6 2.1 69.1 2.1 (17.5) (20.2) Profit

was 0.96 times which reflect a capability for the Company to acquire more bad debt in the future. Summary of Revenues and Net Profit Q1/2017 Q1/2018 Change MB. % MB. % MB. % Services income from debts