appliances. Therefore, the Company has allocated resources and services to facilitate and support consumer’s needs and provide products promptly amid the uncertainty and constrained situation. Financially, the

situation. As a result, income from both domestic consumption and foreign tourists increased. • Gross Profit margin in Q1/2023 was 63.6%, increased from 60.6% in Q1/2022, mainly due to increase in the

objective, purpose, or strategy of operation or procurement of benefit of REIT for investor’s understanding and use it as guideline for monitoring REIT business operation direction in the future; 2.2

(Decreased) % Operating profit 993.74 954.83 (38.91) (3.92%) Depreciation 188.28 191.02 2.74 1.45% Amortization 130.47 137.67 7.20 5.52% EBITDA 1,312.49 1,283.52 (28.98) (2.21%) 2. Economic Situation Overall

2019 2018 YOY % Operating profit 457.27 403.89 53.38 13.22% Depreciation 124.10 100.14 23.96 23.92% Amortization 78.25 73.92 4.32 5.85% EBITDA 659.62 577.96 81.66 14.13% 2. ECONOMIC SITUATION Thai

LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q3/2018 2 2. ECONOMIC SITUATION Thai economy in Q3/2018 continuously grew. Export-oriented manufacturing businesses expanded for specific sector, automobile

traveling trips and revenue will return to normal after this situation is resolved and government relief more measures. 2. The postponement of the 2020 Annual General Meeting and interim dividend payment

COVID-19 pandemic Due to the outbreak situation of the COVID-19 virus as well as the government’s recent decision to activate the state of emergency by travel restrictions and the closure of venues

planting season has shifted to this quarter and the raining season has started so the water situation was getting better even though a severe drought is still causing extensive damage in some areas. Moreover

173,206 with representing 9% of total company customers. The Company and subsidiaries have managed liquidity risk of operating cash flow under the COVID-19 situation with soft loan facilities in the amount