(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

/FY2020 Q3/FY2019 change %YoY Total Revenues 739.20 1,317.88 (578.68) -43.91% Cost of Sales and Services 679.59 1,206.22 (526.63) -43.66% Selling and Administrative Expenses 87.34 114.92 (27.58) -24.00

a normal business support transaction for the company In this regard, With a value compared to last year's sales of not more than 49,000,000 baht and the total value not more than 3 % of the Net

previous year. 3. Selling and Administrative Expenses For the third quarter of year 2019, the Company’s SG&A expenses was USD 35.75 million (or equivalent to Baht 1,096.82 million), or 4.20% of the total