(95) (3) 165 4 (260) (158) (43) (1) (52) 121 Net Financial Costs (4) (0) (5) (0) 1 (20) (4) (0) - - FX Gain/Loss(1) 3 0 (10) (0) 13 (130) (2) (0) 5 (250) Share of Profit/(Loss) from investment 4 0 46 1

selling expense to increase, 1Q2020 net profit reported at THB 335M or still increased by 14% YoY because of other income representing THB 423m recognized as a gain from selling share of SHR’s subsidiary

significantly, and net loss from exchange rate. Separate financial statement, the Company posted net loss Baht 1,056 million comparing with previous quarter which has net profit Baht 119 million. Total revenue

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

sales declined by 9.7% due to intense marketing competition led by strong Thai Baht. Domestic sales portion ended up at 24.9% and export sales at 75.1%. The Company reported gain from foreign exchange

of Thailand Major Development Public Company Limited (“The Company”) would like to inform total revenues 6,107.92 million baht and net profit 320.97 million baht in the consolidated financial statement

of Thailand Major Development Public Company Limited (“The Company”) would like to inform total revenues 5,679.74 million baht and net profit 733.14 million baht in the consolidated financial statement

6.1% 279.4 7.2% Gross Profit 68.0 56.6 20.1% 63.3 7.4% Profit (Loss) from the operation 3.3 (26.0) 112.7% (26.4) 112.5% Gain (Loss) from temporary investment (6.3) (21.7) 71.0% 1.5 (520%) Profit (Loss

profit obtained from the sale of the aforementioned additional OFCs, totaling 10,441 million Baht (Net of income tax), which was also realized under the consolidated financial statements at 7,233 million

% Sales Domestic Sales 71.0 88.4 (19.7) Export Sales 205.1 295.8 (30.7) Total Sales 276.1 384.2 (28.2) Foreign Exchange Gain - 3.3 (100.0) Other Income 1.0 1.8 (41.7) Total Revenues 277.1 389.3 (28.8) Ocean