Q4/17 Q1/18 Sales Revenue Net Profit Unit: Million Baht Page 2 2. Overview of Domestic Economy and Ready-to-Drink Fruit Juice Market In Q1/2018, domestic RTD fruit juice market continued to decrease 10

prepare for the Company’s upcoming leaping growth in the future. 2. Overview of Domestic Economy and Ready-to-Drink Fruit Juice Market In Q2/2017, domestic RTD fruit juice market decreased 15% YoY due to

Q1-2017 (THB 18,695/ton) due to the decrease in HRC market price worldwide and a stagnant of Thai economy in the first half of 2017 causes a lower demand of steel consumption. Management’s Discussion

due to sales recovery in almost every segment, while cost per unit decreased QoQ due to higher capacity utilization and improved cost management. 2. Overview of Domestic Economy and Ready-to-Drink Fruit

MANAGEMENT DISCUSSION AND ANALYSIS FOR 2017 2 2. ECONOMIC SITUATION Thai economy continually expanded supported by every economic engine especially merchandise exports that were uplifted from global trade

economy are seeking for value- for- money service. Operators introduced smaller package with lower speed of unlimited data to capture low-budget segment amidst weak consumer spending. Competition in fixed

service concerning health and esthetics. 2. Overview of operating results in the Year 2018. Although in 2018, the global economy as risk from international of political tensions and economic. And the

E_1 Legal_FA_2015_12_29-c A HibrWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending September 30, 2018 The Thai economy in the third quarter of 2018 grew at a

market, where the oil business is in on a downward trajectory following slowing global economy due to the trade war between the US and China. The Dubai crude price in 2019 averaged at 63.51 $/BBL, a

167mn Impacts of Coronavirus Disease 2019 (COVID–19) COVID-19 is profoundly impacting the global economy, especially the hospitality sector which is the main business of the Company. Almost all of our