administrative expenses for this quarter in the amount of Baht 67.50 million or 14.87 percent of its revenue from sales and services. Increased compared to same period which selling and administrative expenses in

Ref. POL. 083/2563 May 15th 2020 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P Syndicate Public Company

quarter of last year which presented in the amount of Baht 419.89 million or 80.61 percent. Due to the provision for reserve for retirement staff expenses. 3. The company’s selling and administrative

% for year 2020, 2021, and 2022 respectively. In the year 2022, The company has closed the forward contract as a result in lower administrative expenses. Net Profit (Loss) for the Period (Attributable to

% -22% 11% Total Revenues 5,820 12% 15,597 16,780 8% 14,872 15,945 7% Operating and administrative expenses Expected credit loss Finance costs Other expenses 2,039 1,884 475 0 5% 6% 12% 0% 5,846 5,011

70.33 109.73 Total Revenues 9,131.98 9,444.46 Selling and Administrative Expense 692.28 605.22 Finance Costs 85.90 78.95 Net Profit (loss) 23.72 417.46 Net Profit (loss) attributable to the parent company

Baht 392.62 million Baht 526.45 million 134.09 1.4 Cost of sales and service 85.01% 93.26% - (8.85) 1.5 Selling expenses Baht 103.61 million Baht 56.97 million Baht 46.64 million 81.86 1.6 Administrative

.  Cost of rendering of services decreased 21% in line with service revenue.  Selling and administrative expenses decreased 8% due to the decreased in sale promotion and marketing expenses.  Loss on

Company’s sales and services revenue but sales and administrative expenses was fix. Please be informed accordingly Yours sincerely, K.C. Metalsheet Public Company Limited (Mr.Niphon Charoenkit) Managing

revenues from operations by business segment. Page 3 of 4 IV Expense First quarter (Unit: Million Baht) 2018 2017 Change Change (%) Selling expenses 189 228 (39) (17) Administrative expenses 370 435 (65) (15