Amortization allocated to Costs of Sales Overview of operating performance results for Q3/2017 The Central Plaza Hotel Public Company Limited and its Subsidiary Companies (“The Company”) achieved, for the Q3

Limited 4 MANAGEMENT DISCUSSION AND ANALYSIS FOR PERIOD ENDED 31 MARCH 2020 3. Financial highlights (based on Thai FRS) Q1 2020 Financial Position Summary as of 31 March 2020 compared to Q1 2019: Note

UNOFFICIAL TRANSLATION Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. Notification of the Office of the Securities and Exchange Commission No. Sor Nor. 87/2558 Re: Rules, Conditions, and Procedures for Management of Retail Funds, Mutual Funds for Accredited Investors, Mutual Funds for Institutional Funds, and Private Funds ______________________ By virtue of Clause 6, Clause 8, and Clause 9 of the Notification...

-month of the year 2016 ended June 30, 2016. The Company’s overall performance can be summarized as follows. DCORP would like to summarize the overview of the consolidated company’s performance for the

| www.shotelsresorts.com Page 1 of 7 Management’s Discussion and Analysis for the performance of the six months ended of the year 2019 Business Overview In the six months ended, S Hotels and Resorts Public Company Limited

Discussion and Analysis for the performance of the nine months ended of the year 2019 Business Overview In the nine months ended of the year 2019, S Hotels and Resorts Public Company Limited (“the Company

0.34 1.70 504.45% 0.69% 0.11% Financial cost 31.66 28.15 3.51 12.46% Corporate income tax 1.82 3.25 -1.42 -43.79% Total cost and expenses 298.98 293.80 5.18 1.76% For the overview of cost and expenses

tax 2.33 3.71 -1.38 -37.14% Total cost and expenses 396.48 313.43 83.04 26.49% For the overview of cost and expenses that happened in the 3rd quarter of 2020, the Company had the cost of goods sold

. Overview Operational Results Between the third quarter of the year 2019 and 2018 (Unit: Million Baht) Description 3rd Quarter Changes 2019 2018 Amount % Revenue from expressway business 2,608 2,561 47 1.8

accounts. The Company’s Board of Directors has considered and resolved that the price of the investment disposition was appropriate. Summary of SBITO’s financial statements as of September 30, 2017 are as