4.3% YoY to THB 1,462mn mainly due to the expansion of hotel business through new hotels launch, through new acquisitions and the contribution from acquired assets under the Entire Business Transfer of

2Q 2019 - MD&A (for three-month period ended 30 June 2019) 3 U CITY PCL SEGMENTAL PERFORMANCE 2Q 2019 REVENUE CONTRIBUTION BY SEGMENT 2Q 2019 REVENUE GROWTH CONTRIBUTION This quarter, the hospitality

of income generating assets from the EBT of UE since 16 March 2018, whose revenue contribution this quarter amounted to THB 119mn, being partially offset by (iii) a decrease of 25.8% YoY or THB 29mn of

customers, additional contribution from Demineralized Water. 2 Gross Profit and Gross Profit from Operation In 2019, Gross Profit was Baht 692.8 million, a 17.8% increase from Baht 588.3 million in 2018, and

Page 1 of 6 Performance Overview In 3Q17 Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reported a total revenue growth of 82% YoY, mainly from higher contribution from

;  Type 3 telecommunication business annual license fee  Spectrum administrative fee  Telecommunication numbering fee  Revenue contribution to Broadcasting and Telecommunication Research and Development

contribution for the year amounted to THB 437mn and (iii) an increase of 36.7% YoY or THB 156mn of other revenue to THB 580mn. Total consolidated expenses amounted to THB 6,683mn in 2018, an increase of 40.3

of investments Total revenue grew by 8.83% year-on-year, driven by higher sales from the automotive parts segment and sale contribution of AAPICO Maia which the company acquired in Q4 2019. Interest

lower Share of Profit of associates contribution. Mil THB 12 19 63 45 9 10 189 91 Q2 18 Q2 19 165 -39.5% Profit sharingTKS One-time gain(loss) 273 Gain on sale asset TBSP 84 74 -11.0% 46.5% 27.9% % NP

margin of 14.5% from the second quarter of 2018. The increase in the overall gross profit margin was mainly driven by the increase in the house brand revenue contribution that grew in conjunction with the