Price (THB./ton) 20,942 18,695 HRC Cash Margin (THB./Ton) 1,937 3,327 Unit: million Baht 31 March 2018 31 December 2017 Fin an cia l St at us Total Liabilities 5,789 5,492 Total Asset 20,209 19,546 Total

decrease of Baht 71.52 million from the end of prior year. Cash Flow In the first six months of 2018, the Company and its subsidiaries had net cash from operating activities of Baht 2,062.11 million due to

million from the end of prior year. Cash Flow In the first nine months of 2018, the Company and its subsidiaries had net cash from operating activities of Baht 4,531.45 million due to the Company and its

net of cash and cash equivalents Management Discussion and Analysis ( - translation - ) For operating result of 3Q19, ended 30 September 2019 Raimon Land Plc. | 14 November 2019 3 / 7 Operating result

assets and the adoption of TFRS 16  Net profit from operation was THB 51mn, an increase of 25.0%  Cash flow for the quarter from operating activities remains positive at THB 65mn KEY BUSINESS AND

amounted to Baht 27,812.52 million, an increase of Baht 1,983.80 million from the end of prior year. Cash Flow The Company and its subsidiaries had net cash from operating activities of Baht 3,427.69 million

% up from December 31, 2019 from an increase in cash and cash equivalent of THB 777.02 million and an increase in PP&E of THB 419.61 million. GFPT Public Company Limited Interim Management Discussion and

Statement Cash Flows Statement Accounting Financial Ratios Business Performance Executive Summary Statement of Income 19 of Financial Position Environment Management 3 3 | Management Discussion and Analysis

to a 20% reduction in IVL’s core EBITDA. Operating cash flow through this period increased by 33% to $1.3B, as a result of lower prices and operational excellence. IVL has proposed a dividend of

2016 % Change Cash and cash equivalents 100 92 +9% Trade receivables 781 731 +7% Inventories 1,044 812 +29% Other current assets 179 96 +86% Total current assets 2,105 1,731 +22% Property, plant and