the two languages, the Thai version shall prevail. The objective of this MD&A is to present the information and the explanation of financial status and operating results as of the date hereof. However

กองทุนตามท่ีประกาศก าหนดได้ ส านักงานพิจารณาแล้วเห็นควรทบทวนหลักเกณฑ์ดังกล่าวให้มีความเหมาะสมมากขึ้น โดยค านึงถึงความเสี่ยงหลักของการประกอบธุรกิจ กล่าวคือความเสี่ยงด้านปฏิบัติการ (operational risk) ซึ่ง

shareholders. (Translation) 6 7. Source of Fund: Cash flows from the Company’s operating activities 8. Opinions of the Board of Directors on Agreement for Execution of the Transaction The Board of Directors

having the voting rights, excluding the votes of interested shareholders. 7. Source of Fund: Cash flows from the Company’s operating activities 8. Opinions of the Board of Directors on Agreement for

votes of interested shareholders. 7. Source of Fund: Cash flows from the Company’s operating activities 8. Opinions of the Board of Directors on Agreement for Execution of the Transaction The Board of

Quarter Ended on June 30, 2020 2 Overview Operational Results Between the second quarter and the six-month period of the year 2020 and 2019 (Unit: Million Baht) Description 2nd Quarter Changes For the six

1 Forth Smart Service Public Company Limited (FSMART) 1Q18 Management Discussion and Analysis Operational Summary in 1Q18  Total revenue from core business was Bt842.14mn, an increase of 17.8 % YoY

1 Forth Smart Service Public Company Limited (FSMART) 4Q17 Management Discussion and Analysis Operational Summary in 4Q17  Total revenue from core business was Bt3,105mn, an increase of 38.3 % YoY

1 Forth Smart Service Public Company Limited (FSMART) 1Q19 Management Discussion and Analysis Operational Summary in 1Q19  Net profit was Bt150mn, increasing 3.1% YoY  Total revenue from core

1 Forth Smart Service Public Company Limited (FSMART) 2Q18 Management Discussion and Analysis Operational Summary in 2Q18  Total revenue from core business was Bt848.81mn, an increase of 10.4% YoY