- Translation - No. LMJG/SET/2020/013 May 18th, 2020 Subject: Clarification for the change of Operating Results more than 20% Attention: The President The Stock Exchange of Thailand Impact from the

results based on its audited consolidated financial statements which ended 31 December 2019 as follows: Management’s Discussion and Analysis The following Management's Discussion and Analysis should be read

Page 1 of 6 Performance Overview In 2017 Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reported a consolidated net profit of Bt572mn, representing a growth of 236% YoY with

The Company performance and its subsidiaries for the second quarter of 2019 from the consolidated financial statements with the net profit of 137.0 million Baht, increased from the second quarter of

of the highest value when calculated from 12-month period net profit criteria consideration based on the latest reviewed consolidated financial statement ended March 31, 2020 which equals to 32.52% and

classification, measurement of financial assets and financial liabilities, impairment of financial assets and hedge accounting, KBank’s consolidated net profit for the first quarter of 2020 totaled Baht 6,581

% Others 1,778MB 15% (-12% YoY) (-3% YoY) (-7% YoY) (-11% YoY) (-7% YoY) Page 3 3. Results of Operations and Profitability Consolidated (Unit: Million Baht) Q2/2018 Q2/2017 %YoY 6M/2018 6M/2017 %YoY Sales

/02/62 14:27 น. 5 Overall Picture of the Bank and its Subsidiaries Million Baht Item Quarter Change (%) Year Change 4/2018 3/2018 4/2017 3/2018 4/2017 2018 2017 (%) Net profit * 8,101 9,030 8,496 (10.3

until the gross profit being reported differently from the previous periods Operating Highlights in Q4/2019 & 2019 Q4/18 Q3/19 Q4/19 Change +/(-) 2018 2019 Change+/(-) (Unit: Million Baht) QoQ YoY

OPERATION (Unit : Million Baht) Consolidated Financial Statements 2019 2018 % Change Total Revenue 1,857.2 1,708.3 8.7% - Utilities Business 1,847.1 1,705.1 8.3% - Operating Revenue1 1,734.3 1,679.7 3.3