sales and service, Administrative expenses (Unit: Million Baht) For the year Movement 2018 2017 Increase (decrease) % Cost of sales and service 670.71 491.21 179.50 36 Administrative expenses 60.27 52.20

| Padaeng Industry Public Company Limited and its subsidiaries For the years ended December 31, Continuing operations Discontinued operation Total 2019 2018 2019 2018 2019 2018 EXPENSES (549.15) (445.02

efficiency, thereby lowered expenses significantly. However, during the year Krungthai ZMICO recorded a share of loss and an impairment loss from its associates. Consequently, the net operating result for the

3.72 28.95 Administrative Expenses 26.12 17.28 17.22 15.01 2.21 14.72 Financial costs 0.54 0.21 0.43 0.21 0.22 104.76 Total Expenses 185.71 162.73 165.02 154.11 10.91 7.08 Profit before share loss from

higher cost of completed projects in 2019. - Selling expenses in 2019 amounted 872.15 million baht increased by 255.23 million baht or 41.37% compared to 616.92 million baht in 2018 due to the increase of

) Gross profit 471.90 38.51 934.84 34.51 432.97 41.43 949.13 34.86 (462.94) (49.52) Selling and Administrative expenses 270.99 22.12 357.50 13.20 235.50 22.53 351.13 12.90 (86.51) (24.20) Selling expenses

of 2015 and has more tenants gradually. - Selling expenses in Q2/2017 amounted 89.35 million baht decreased by 65.93 million baht or 42.46% compared to 155.28 million baht in Q2/2016 due to the

Baht) Q3/2017 Q3/2016 Change Revenue 186 227 (41) Gross profit margin 62 89 (27) Selling Expenses 17 28 (11) Administrative Expenses 18 19 (1) Finance cost 5 5 - Net profit 19 28 (9) In overall, the

jointly-controlled entity, which decreased by Baht 15.23 million or 43.74%. The Company wish to explain the main reasons change of Expenses as follows. Expenses: (Unit: Million Baht) Consolidated Separate

were 4%. 1.2 Cost of sales and service, Administrative expenses Unit: Million Baht) For the year Movement 2020 2019 Increase (decrease) % Cost of sales and service 1,835.84 1,010.75 825.09 81.63