Discussion and Analysis and operating results for the Quarter 1’ 2018 Page 3 / 6 Revenue by Business Segments for the Quarter 1 Ending 31 Mar Growth Rate 2018 2017 MB Portion (%) MB Portion (%) 1. Industrial

level as previous quarter. This is a result of the increase in short-term portion. 4 Net Profit For the first half of 2018, consolidated operating income was reported at 2,259 million baht, showing an

(409.20) (78.22%) Current portion of debentures 599.04 208.74 (390.30) (65.15%) Other current liabilities 173.49 197.52 24.03 13.85% Debentures - net of current portion - 393.00 393.00 100.00% Other non

institutions of 3,062 million Baht, current portion of long-term loans from financial institutions of 4,618 million Baht, the remaining amount of debenture is 1,812 million Baht, long-term loans from financial

122.03 46.13 60.78% Total assets 3,251.20 3,741.70 490.50 15.09% Liabilities Short-term loan from financial institutions 93.95 80.00 (13.95) (14.85%) Current portion of debentures - 396.53 396.53 100.00

million or 123 million baht, resulting in the Company's investment portion of the subsidiary from 70% to 100%. Capital increase of a subsidiary On June 2 3 , 2 0 2 0 , an extraordinary meeting of the

Veranda Resort Public Company Limited Management Discussion & Analysis Q2/2020 Management Discussion & Analysis Q2/2020 The company has main revenue portion from the property development business

-current assets 75.90 122.87 46.97 61.88% Total assets 3,251.20 4,005.66 754.46 23.21% Liabilities Short-term loan from financial institutions 93.95 300.00 206.05 219.32% Current portion of debentures

400.0 550.0 137.5% Trade and Other Payables 1,163.6 738.5 425.1 57.6% Unbilled payables 628.4 713.5 (85.1) (11.9%) Other current liabilities 81.2 95.0 (13.8) (14.5%) Current portion of liabilities under

reservoir than that in Q2/2019. Gross profit of Sriracha Power Plant increased as a portion of the Availability Payment (AP) that is linked to USD increased due to THB depreciation. Additionally, revenue from