RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q2/2017 EASTERN WATER RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND

of the Board of Directors The Board of Directors deems it appropriate to approve the entry into by the Company of the Transaction and has the opinion that the entry into the Transaction is reasonable

Share Sale and Purchase Agreement. 11. Opinion of the Board of Directors The Board of Directors deems it appropriate to approve the entry into by the Company of the Transaction and has the opinion that

the entry into such supporting normal business transaction is justified and will benefit the Company. Such Connected Transaction is considered at arm’s length basis. This transaction was considered and

. For the year 2018, there was the reversed entry of the allowance for doubtful accounts greater than this year for 2.43 Million Baht. 4. There is an increase in administrative costs due to the increase

Human Resources and Payroll Outsourcing-services 60.16 45.77 56.21 47.26 1.2 Income from software and Human Resources System 45.58 34.67 34.40 28.92 Revenues from HR Solutions 105.74 80.44 90.61 76.18 2

Translation Subject: Disclosure of Financial Assistance to Affiliated Company To: President The Stock Exchange of Thailand The Board of Directors of Eastern Water Resources Development and Management

(67.55) (10.61%) 1,283.52 1,146.76 (136.76) (10.65%) EASTERN WATER RESOURCES DEVELOPMENT AND MANAGEMENT PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR Q2/2018 EASTERN WATER RESOURCES

performance Revenues Type of Revenue Jan-June 2018 Jan-June 2017 THB (m) % THB (m) % 1. HR Solutions 1.1 Human Resources and Payroll Outsourcing-services 119.48 46.98 109.78 46.89 1.2 Income from software and

, 2018 Operating performance Revenues Type of Revenue Jan-Sep 2018 Jan-Sep 2017 THB (m) % THB (m) % 1. HR Solutions 1.1 Human Resources and Payroll Outsourcing-services 177.54 46.66 163.66 46.87 1.2 Income