0.9% q-on-q (3.28 Baht/KWh in 9M’2018 / 3.30 Baht/KWh in Q3’2018) which is in line with the change in Ft – the tariff announced by ERC. FINANCIAL PERFORMANCE REVENUE STRUCTURE ABBREVIATION & OUR

loans target. The net profit in the fourth quarter of 2018 was 454.91 million baht. An increase of 134.90 million baht or 42.15% from the same period of the prior year. The total revenue was 1,010.39

Increase (Decrease) % Change Revenues from sales and services 344.69 178.62 166.07 92.97 Other revenues 3.05 1.09 1.96 179.82 Total revenues 347.74 179.71 168.03 93.50 Costs of sales and services 245.56

achieved expansion loans target. The net profit in the fourth quarter of 2017 was 320.01 million baht. An increase of 83.19 million baht or 35.13% from the same period of the prior year. The total revenue

loans target. The net profit in the fourth quarter of 2017 was 320.01 million baht. An increase of 83.19 million baht or 35.13% from the same period of the prior year. The total revenue was 868.78 million

achieved expansion loans target. The net profit in the fourth quarter of 2018 was 454.91 million baht. An increase of 134.90 million baht or 42.15% from the same period of the prior year. The total revenue

REVENUE STRUCTURE FINANCIAL PERFORMANCE 5 Table 2) Revenue Drivers: Price per Unit Price per unit Units Q1’19 Q4’19 Q1’20 change change y-on-y q-on-q Electricity to EGAT Baht/kWh 3.25 3.07 3.13 (3.7%) 2.0

”) reported 2019 total revenue of THB 12,275m, increased by 63% YoY. Major drivers of such growth were 104% increase in revenue from sales of house and condominium together with 27% increase in revenue from

clarifies the changes in the performance over 20% as follows: FINANCIAL PERFORMANCE Consolidated Financial Statements Q1 2018 Q1 2019 Increase/(Decrease) THB mm THB mm THB mm % Total Revenue/1 3,447.1 3,803.0

Page 1 of 7 Management Discussion and Analysis 1Q2019 Executive Summary Singha Estate Public Company Limited (“the Company”) reported 1Q19 Total revenue of THB 3,000m, increased by 167% YoY. The