MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020 13 AUG 2020 U CITY PCL 2Q 2020 - MD&A (for three-month and six-month period ended 30 June 2020) 1 U CITY PCL 2Q 2020 KEY FINANCIAL HIGHLIGHTS • Total revenue

equipment and intangible assets because of the new investment in KURON Co., Ltd since 3 March 2020. Total Liabilities As of 31 March 2020, the Company held total liabilities of THB 521.27 million, increasing

- net 4,744.9 4,337.7 407.2 9.4 Total assets 240,713.1 240,084.8 628.3 0.3 Loans to Customers As of 31 March 2021, loans to customers net of deferred revenue and modification gain or loss from the new

the prior year are as follows; For the year 2019 the Group reported total revenues at THB 790.5 million, increased by THB 72.2 million or 10.1% when compared to the prior year. It mainly increased from

and Service 2,158.1 98.9 2,425.0 96.4 Franchise Fees Income 15.1 0.7 56.5 2.2 Other Income 8.7 0.4 33.7 1.3 Total Revenue 2,181.9 100.0 2,515.2 100.0 Remark: (1) Percentage of Total Revenue For the

total amount of Baht 849.75 million which increased from the previous year in amount of Baht 193.72 million or 29.53 percent, consisting of profit from the restructuring of the hotel business of Baht

%, therefore, the company has rights to purchase 125,000 ordinary shares at par value of 100 baht. In this regards, the company will increase its investment in total amount of 12.5 million baht, and the

increase of receivables and inventories related to new projects and the investment in the joint venture with VinFast. Total liabilities increased by Baht 704 million, due to the increase of payable and the

follows: Financial Analysis Revenues The company had the total revenue as 198.96 million baht which is decreased as 62.62 million baht or 23.94% compared to the total income of previous year amounted of

2019 was equal to 135.0 million baht lower than the third quarter of 2018 at 12.8 percent. For total revenues for the third quarter in 2019 was 158.0 million Baht a decline by 7.5percent from the same