MANAGEMENT DISCUSSION & ANALYSIS 3Q 2018 14 NOV 2018 U CITY PCL 3Q 2018 MD&A (for the quarter ended 30 September 2018) 1 U CITY PCL 15 MAY 2018 3Q 2018 KEY FINANCIAL HIGHLIGHTS  Total revenue rose

% 1.1.2. ALP POLYMER PARK PRIVATE LIMITED 13,241,649 Shares 41.94 % Total 17,366,649 Shares 55.00 % 1.1.3 The agreed trading price is 8.6369 INR. for a total of 149,994,100 INR. 1.2. Parties who offer to

Percent 1.1.2. ALP POLYMER PARK PRIVATE LIMITED 13,241,649 Shares 41.94 Percent Total 17,366,649 Shares 55.00 Percent 1.1.3 The agreed trading price is 8.6369 Indian Rupees for a total of 149,994,100 Indian

(6.46) (57.73) 3. Revenue from TV content business 11.03 10.66 0.37 3.47 4. Revenue from post production business - 3.74 (3.74) (100.00) 5. Revenue from product sales 0.83 1.40 (0.57) (40.71) Total 101.33

Corporation Public Company Limited (BCP), PTT Public Company Limited (PTT), and Thai Oil Public Company Limited (TOP).Furthermore, Thai listed companies in aggregate are the leader in the overall average

13% from 1H/2020 due to the decrease in selling expenses from the Company's overall expenses control during COVID-19 outbreak. • Selling Expenses to Total Revenue in 1H/2021 was 34.8%, improved by 0.3

-Translation- Ref. WINNER 006/2020 February 27, 2020 Subject: Management Discussion and Analysis (MD & A) for the year 2019 To: The President The Stock Exchange of Thailand 1. Analysis of Overall

Overall Operating Results for the Company and its subsidiary 1.1 Analysis of Operating Results for the Company and its subsidiary Table 1: Overall operating results for the year 2019 (Unit: Thousand Baht

on January 28, 2019 with the Department of Business Development. Outline of 2018 Business operation The outline of the Company’s business operation in the year of 2018 is as follows; 1. Total incomes

Expenses For the second quarter of year 2019, the Company’s SG&A expenses was USD 35.65 million (or equivalent to Baht 1,122.18 million) or 4.31% of the total sales revenue which increased from 4.02 % during