Granary Public Company Limited and its subsidiaries, would like to present the Management Discussion and Analysis (MD&A) of Q1/2019 as follows: Management Discussion and Analysis (MD&A) Patum Rice Mill and

million Baht or increased by 4.05% as the Company launched new projects resulting in higher selling and administrative expenses. The main reason for the increase was the significant increase in transfer

capital. The Company expects the following benefits: 1. To use for the investment in other main business expansion of the group of the company to the Organic and Sustained growth. 2. Could get a better

decrease 8.18% , the main reasons are as follows 1. Revenue from sale , Other income The company had revenue from sale ended September 30, 2018 of Baht 283.73 million, compare with the same period of

Smart service business and the increase in administrative expenses. Analysis of revenues Q1’ 2020 Q1’ 2019 Increase (decrease) Million Baht % Million Baht % Million Baht % Revenues from main business EMS

Company had total assets of THB 80,637.2 mm, decreasing by THB 1,626.6 mm from THB 82,263.8 mm as of 31 December 2019. The main reasons are as follows: 1. Decrease in Investments in available-for-sale of

% Million Baht % Million Baht % Revenues from main business EMS business 476 24% 524 33% (48) (9%) Telecommunication business 396 20% 58 4% 338 583% Related technology business 166 9% 191 12% (25) (13

OCEAN COMMERCE PUBLIC COMPANY LIMITED 99/290 Floor 1, Soi Sukhumvit 43, Sukhumvit Road, Khlong Tan Nuea Sub-district, Watthana District, Bangkok Tel: 0-2258-5565 Page 1 of 3 No. OCMSET-6302-001 26

the financial statements in 2019 of the Company and subsidiary companies as well as the performance report as follows: L.P.N. Development Public Co., Ltd. and subsidiary companies provide a complete

Ref. No. 1805/025EN May 14, 2018 Subject Management Discussion and Analysis for Q1/2018 (Ending March 31, 2018) To Director and Manager of the Stock Exchange of Thailand Ubis (Asia) Public Company