with cash outflow for expenses and income tax payment. • THB 42 million cash inflow from financing activities, due primarily to additional short-term loans. Uses of Funds The company reported net cash

of 31 December 2016 Airbus A320 9 9 Airbus A319 14 12 ATR72-500 6 6 ATR72-600 9 7 Total 38 34 Two additional Airbus A319s under operating lease were delivered in July 2017. 3. The Company received

additional investments in machinery to improve production efficiency and reduce production cost, in order to prepare for an increased level of production in the future. In addition, the Company has gradually

1 บริษัท เอ็นซีแอล อินเตอรเ์นช่ันแนล โลจิสติกส ์จ ำกัด (มหำชน) NCL INTERNATIONAL LOGISTICS PUBLIC COMPANY LIMITED No.NCL-M 15/19 August 13, 2019 Subject: The clarification and analysis of the

63.45% Other income 41,223 31,132 10,091 32.41% 10,646 11,601 -955 -8.23% Total Revenue 2,375,733 1,571,210 804,523 51.20% 617,919 383,133 234,786 61.28% Company total revenue on year and 4th quarter of

President The Stock Exchange of Thailand The Company wishes to present the Management Discussion & Analysis (MD&A) on the operating and financial status for the 3rd quarter of 2017. The MD&A would enable the

31,132 19,457 11,675 60.00% 11,365 6,968 4,397 63.10% Total Revenue 1,571,210 1,585,604 -14,394 -0.91% 382,897 444,474 -61,577 -13.85% Company total revenue on year 2018 slightly decreased 0.91 percent

(reversal) (5) 9.96 7.48 2.48 33.16 Finance costs (6) 0.03 0.05 (0.02) (40.00) Profit Owners of the Company 53.99 121.68 (67.69) (55.63) Additional changes (reduction)June 30,2019 June 30,2018 1. Revenues

support the purchase of products and expand the market in the Asian region, which will enable the Company to compete with other manufacturers. The Company therefore has to order additional machinery

Company Limited (“the Company”) would like to submit this Management Discussion and Analysis for the three - month period ended 31 March 2020 with details as follows: ( Since the consolidated financial