2.87 0.65% 2.90 0.74% 0.03 0.89% Revenue from rental incomes 2.44 0.55% 2.63 0.67% 0.19 7.26% Total revenues 393.34 100.00% 444.32 100.00% (50.98) -12.96% Gross Profit / Margin 121.70 27.39% 99.52 25.30

Income as of third quarter of 2019 per following table: (THB) Million 3Q19 3Q18 9M19 9M18 Total Revenues 130.55 124.06 392.30 392.98 Total Expenses (120.99) (120.70) (372.77) (365.21) Shares of Profit

Revenues from sales and services 258.16 164.67 93.49 56.77% 440.60 308.76 131.84 42.70% Gross profit from sales and services 47.38 22.37 25.01 111.80% 84.63 44.97 39.66 88.19% Other income 1.44 2.98 (1.54

Dusit Thani PLC Management Discussion and Analysis 4Q18 and FY2018 P a g e | 1 Executive Summary The Company reported net profit of THB 119 million in 4Q18, a decrease of 59.0% from the same period

increased flight frequencies in Bangkok-Phu Quoc route to 5 flights weekly, Bangkok- Vientiane route to 14 flights weekly. Additionally, new route service has been started from Chiang Mai – Hanoi with seven

route to 5 flights weekly, Bangkok- Vientiane route to 14 flights weekly. Additionally, new route service has been started from Chiang Mai – Hanoi with seven flights per week staring from March 2018. For

started in January in China and has since spread to several countries. Measures to contain the outbreak imposed by several countries have led to widespread slowdown in economic activities. Private

) (1,534.44) 511.79 33.35 Gross Profit (Loss) (65.56) 28.36 (93.92) (331.17) Sales & Administration Expenses and Financial Cost and Tax Expense (107.46) (108.80) (1.34) (1.23) Net Profit (Loss) (156.50) (72.32

2017 Pe rfo rm an ce Revenues 8,117 3,526 Sales Volume (k tons) 388 189 EBITDA 548 317 Net Profit (Loss) 366 967 HR C HRC Sales (k tons) 388 189 HRC Production Volume (k tons) 382 183 HRC Average Selling

Cost of project works and services 64.61 60.79 3.82 6.28 Total Costs of Sales and Services 182.83 173.78 9.05 5.21 Gross Profit 65.77 46.76 19.01 40.65 Other incomes 5.31 3.61 1.70 47.09 Distribution