Management Discussion and Analysis Q3/2019 Financial Result Summary Q3/ 2019 Q3/19 Q3/18 Change +/(-) 9M/19 9M/18 Change +/(-) (in THB mm) YoY 9M Revenue from Sales and Services 57.4 54.3 6% 146.9

. This was an objective of the business to expand revenues base in future. Moreover, the Company has more short-term investment and goodwill.   Management Discussion and Analysis, Q3/2018 Page5/5 JMT

decreased of sale volumes of products and services  Decline in inventory of 88.44 Million Baht due to tightened in term of delivery and management  More other current financial assets of 100.08 Million Baht

14,376.4mn as of 31 December 2018. The decrease was primarily attributed to the reduction of cash and short-term investment for Management Discussion & Analysis ( - translation - ) For operating result of 1Q

management” shall refer to the term of “executive” in the Notification of the Securities and Exchange Commission No. KorChor. 5/2552 Re: Definitions used in the SEC’s Notifications Relating to Issuance and

following funds: (a) a fund which clearly states that it shall hold the assets in which it has invested until its maturity or throughout each investment period or the term of private fund management contract

which it has invested until its maturity or throughout each investment period or the term of private fund management contract; (b) a specified property fund; (2) the advertisement must be made in print or

) a fund which clearly states that it shall hold the assets in which it has invested until its maturity or throughout each investment period or the term of private fund management contract; (b) a

which clearly states that it shall hold the assets in which it has invested until its maturity or throughout each investment period or the term of private fund management contract; (b) a specified

invested until its maturity or throughout each investment period or the term of private fund management contract; (b) a specified property fund; (2) the advertisement shall be made in print or electronic