% 677.43 28.68% SHAREHOLDERS’ EQUITY Shareholder equity 383.00 383.00 Registered capital Issued and Paid up capital 383.00 16.37% 383.00 16.22% Premium on stock 519.67 22.21% 519.67 22.00% Retained earnings

of the assets x 100 / No. of issued and paid-up shares of the Buyer By applying each basis, the calculations of the transaction value are as follows: Calculation Bases Calculation Formula Transaction

and paid-up ordinary shares deducted by the number of treasury share GP = Gross Profit, EBITDA = Earnings before Interest, Tax, Depreciation & Amortization, EBIT = Earnings before Interest & Tax, NP

Page 2 Management Discussion and Analysis 1. Significant events in the third Quarter of 2018  The progress in construction projects - Xayaburi Project, a project of the Xayaburi Power Company Limited

with the purchase asset agreement of Baht 66.17 million and construction in progress amounted to Baht 36.05 million. And non-current assets increased amount Baht 11.32 million consisting of deposits for

shares issued in consideration of the assets x 100 / No. of issued and paid-up shares of the Buyer By applying each basis, the calculations of the transaction value are as follows: Calculation Bases

shares in the amount of 1,257,999 shares, which is equivalent to 74% of the paid-up capital, disposed to The Brooker Group Public Company Limited 2. the common shares in the amount of 441,999 shares, which

its plan for the project at soi Sukhumvit 19 from developing a condominium to develop a 4 stars hotel. The current progress is on design stage and choosing hotel brand operator. The Company targets to

1.76% Total non-current liabilities 53.30 2.50% 41.37 1.76% TOTAL LIABILITIES 537.46 25.24% 679.12 28.95% SHAREHOLDERS’ EQUITY Shareholder equity 383.00 383.00 Registered capital Issued and Paid up

, increased by THB 5. 93 million or 1. 11% up from 1Q2019 from lower price of major raw material which are corn and soybean meal. The consolidated gross profit margin contributed of 14.66% in 1Q2020, increased