1 GLOCON.018/2020 May 15th, 2020 Subject Management’s discussion and analysis for 1st quarter of 2020 Attn. The President The Stock Exchange of Thailand Management’s analysis Consolidated Financial

subsidiaries financial statement for the fiscal year 2014, ended as of December 31, 2014 (Revised Version) which details are as following; Result 2014 (Revised Version) 2013 Increase (Decrease) Million Baht

services income. However, the Company still receives good financial support from various financial institutions and able to pay interest and repay principal on time. In addition, the Company will try to

policy focus on cost management and internal resource management to maximize efficiency, including managing cash flow to be sufficient for business operations. The financial results of the company and its

and efficient management of selling and administrative expenses. The Group’s has shown revenue from sales and services amounted to THB 1,891.6 million, a decrease of THB 605.3 million or 24.2% from last

Baht) Separate financial statements 2018 2017 % Change Sales and Service Income 1,940.22 1,979.16 (1.97) Cost of Sales and Services 1,572.51 1,525.25 3.10 Selling and Administrative Expenses 218.91

Syndicate Public Company Limited (the “Company”) and its subsidiaries hereby submit the Financial Statements for the 3 months period and 6 months period, ending June 30, 2017 and 2016, together with the

Service Income 1,496.43 1,433.31 +4.40 Cost of sales and Services 1,130.39 1,029.60 +9.79 Selling and Administrative Expenses 196.36 155.42 +26.30 Financial Cost 22.71 25.70 -15.53 Net Profit 147.76 197.19

would like to clarify the change in operating results the year ended December 31, 2018 with details as follows: Unit : million baht Statement of financial position For the year ended 31 December 2018

: Million Baht) Consolidated financial statements Q2’ 2020 Q2’ 2019 % Change Sales and Service Income 333 511 -35 Other Revenue 8 4 100 Less Cost of Sales and Services 276 412 -33 Selling and Administrative