Public Company Limited Management’s Discussion and Analysis (MD&A) Page 8 of 15 In 3Q18, total costs stood at THB 4,539 mn, a 24. 0% increase YoY. Total Costs In 3Q18, CPN reported total costs of THB 4,539

% YoY and in line with the increase in total asset value of CPNREIT. Total costs stood at THB 3,852 mn, a 11.3% increase YoY. Total Costs In 1Q18, CPN reported total costs of THB 3,852 mn, an increase of

company's true earnings from its normal operations. To exclude the assessment of the fair value of net assets and allocation of business acquisition costs as well as the effects of accounting standards, in

minimum requirement, reflecting the system’s ability to support ongoing loan expansion. Commercial banks’ liquidity management is expected to focus on readjusting deposit structures and managing costs in an

accounts (359,205) (359,205) (131,940,434) Loss on provisions on litigations - - (97,064,000) Loss on reclassification of investments - - (23,702,689) Finance costs (13,512,426) (13,512,426) (18,704,146

128.91 22.69 71.37 55.31 Administrative expenses 51.79 3.90 40.34 7.10 50.9@ 3.80 40.05 7.05 11.45 28.38 Profit before financing costs and income tax expense 203.93 15.37 39.82 7.01 225.2+ 16.79 40.24 7.08

, respectively when compared to the same period of the year 2018. Most costs are fees for letter of guarantee issuance. The Company still has been unable to obtain the financial support from financial institutions

commission on the sale. 2.3 Administrative Expenses of Baht 53.89 Million. The items are usually staff salaries and fees related to the operation of industrial estate projects. 2.4 Extra expenses incurred in

., Ltd. (“KT ZMICO”) of Baht 10.01 million (The Company holds 49.71%). Total revenue of KT ZMICO increased by Baht 55.63 million from brokerage fees and fee and services income. Its total expenses also

/2023, mainly due to the increase in the revenue, as well as the Company's ability to manage costs effectively. G R O S S P R O F I T a n d G R O S S P R O F I T M A R G I N : • The Company’s EBITDA in Q1