1 Forth Smart Service Public Company Limited (FSMART) 2Q19 Management Discussion and Analysis Operational Summary in 2Q19  Net profit was Bt145mn, decreasing 3.4%YoY  Total revenue from core

18.3% QoQ.  Total revenue from core business was Bt735mn, increasing 10.2% QoQ.  Banking agent business (of which the Company is the agent for 6 commercial banks: KTB, KANK, BAY, GSB, BAAC, and SCB

growth and included the sales of tooling to VinFast in Q1 2019, and higher interest income from loan to SGAH. Cost of sales and services decreased year-on-year as a result of lower car sales. As a

%) (84.8) (1.8%) +8.4 +9.9% Less: (Profit)/Loss Net from Non-Controlling Interests (by equity method) (12.4) (0.3%) (1.6) (0.1%) +10.8 +677.9% Core Operating Profit 343.2 7.1% 296.6 6.3% +46.6 +15.7

พนัลา้นบาท) เพิ่มข้ึนร้อยละ 26 เม่ือเทียบปีต่อปี  Core EBITDA เท่ากบั 304 ลา้นเหรียญสหรัฐ (8.4 พนัลา้นบาท) ลดลงร้อยละ 7 เม่ือเทียบปีต่อปี, อตัรา ก าไร Core EBITDA ร้อยละ 10  ก าไรสุทธิหลกัหลงัหกัภาษีเงิน

(95.8 พนัลา้นบาท) เพิ่มข้ึนร้อยละ 26 เม่ือเทียบปีต่อปี  Core EBITDA เท่ากบั 304 ลา้นเหรียญสหรัฐ (9.6 พนัลา้นบาท) ลดลงร้อยละ 7 เม่ือเทียบปีต่อปี, อตัรา ก าไร Core EBITDA ร้อยละ 10  ก าไรสุทธิหลกัห

Q1'19 164 + 127.3% GP TBSPGP TKS 23.0% 25.0% 27.1% 22.2% %GP Business Overview Q1’2019 Performance T.K.S. Technologies Public Company Limited (“Company”) reported total revenues growth of 109.0% or THB

which Thailand has comparative advantage. Providing an enabling condition that encourages growth of the said businesses will certainly help them to play the key role in adding value to products and

& Calpis grew 2.7% YoY. Total Personal care continued its momentum with 11.5% growth YoY, with 42.8% growth in CLM markets. International business grew 1.5% at constant FX rate, driven by Myanmar growth

net profit* margin of 13.7%, +110 bps YoY. Our strategies are to focus on core products and defend profit through supply chain, operation costs and expenses control, such that A&P have been cut or