Management Discussion and Analysis 1 Ref: AC.017/2020 18 May 2020 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange

OISHI MD&A Q3-2020_EN 1/5 No: SN. 117/2020 11 August 2020 Subject: Management Discussions and Analysis for the three-month and nine-month periods and Financial Position ended June 30, 2020 Attention

lease liabilities, interest expense and dividend payment during the period. 21 ASIA’S BOUTIQUE AIRLINE Summary Consolidated Financial and Ratio As at 30 June 2020 2019 Liquidity Ratio Current Ratio (Time

credit losses from long outstanding receivables in the amount of 1 .3 million baht and no need to record in losses from fair value adjustments of investments -3- Financial Analysis of the Company As of

Financial Statements for the Year Ended December 31, 2017 which have been audited by the auditor and reviewed by the audit committee. Agenda 3 To consider and approve the allocation of profit for dividend

Nexif Ratch Energy Rayong Company Limited (NRER). On April 21, 2020, NRER was successful in making the first drawdown with financial institutions under its project financial agreement. The project is a

130,357 130,274 2 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis Financial Statement Summary in 2Q2020 Statement of Comprehensive Income Total Revenue Total

issuance of debenture and the withdrawal of loan in the net amount of Baht 3,237 Million, dividend payment in the amount of Baht 1,376 Million, interest payment an financial cost in the amount of Baht 1,251

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE For

, dividend paid of THB 531mn3 and cash paid to settle payable from purchase of investment in Multi Sign of THB 220mn FINANCIAL RATIOS Profitability Ratios 2016/17 (Restated) 2017/18 Liquidity Ratios 31-Mar-17