% Since the ownership transfer from most condominiums Less revenue recognition than 2019. Which is the main revenue from real estate sales Income from the sale of townhome amounts 15.55 Million Bath, which

901.89 98.75 (742.61) (82.34) Other income 13.67 7.90 7.88 0.87 16.73 9.51 11.39 1.25 5.79 73.48 Total income 172.95 100.00 909.77 100.00 176.01 100.00 913.28 100.00 (736.82) (80.99) Cost of real estate

= Translation = Management Discussion and Analysis for Interim Business Operations The Information of Share Capital Registration and Entire Business Transfer The Company registered the change of

351.68 99.00 902.24 98.75 351.68 97.43 550.56 156.55 Other income 7.88 0.87 3.55 1.00 11.38 1.25 9.29 2.57 4.33 121.97 Total income 910.12 100.00 355.23 100.00 913.62 100.00 360.97 100.00 554.89 156.21

% million baht % million baht % Revenue from sale of real estate 1,193.65 97.42 2,680.99 98.98 980.85 93.85 2,680.99 98.46 (1,487.34) (55.48) Other income 31.64 2.58 27.65 1.02 64.26 6.15 41.94 1.54 3.99

March 31st, 2018 and 2017 Unit: Million Baht Note: The ratio in the income statement is presented as a percentage of total income. The cost of sales of real estate is shown as a percentage of revenue from

Management Discussion and Analysis for Interim Business Operations Financial Performance for the year ended December 31 , 2018 (Unit : M ill ion Baht) 2018 2017 Inc./(Dec.) % Construction income

subsidiaries. 1. SUT Global Co., Ltd. In July, 2018, the Company had purchased and accepted a transfer of SUTG Holding Co.,Ltd’s entire business, which owns 132,000 shares in SUT Global Co.,Ltd as at the

) (75.17) Other income 6.52 2.57 4.61 0.46 15.04 5.74 8.10 0.81 1.91 41.43 Total income 253.31 100.00 998.59 100.00 261.83 100.00 1,002.08 100.00 (745.28) (74.63) Cost of real estate sales 149.05 60.40

on Sale (%) (excluding expenses on ownership transfer) 2.15% 2.26% (0.11%) 2.20% 3.16% (0.96%) 17. Expenses on Management (%) 9.06% 6.91% 2.15% 6.06% 4.39% 1.67% 18. Profit before interest and income