quarter of 2017. A summary of the Company’s operating performance in the second quarter of 2018 and 2017 is shown in the following table: 2Q18 1Q18 % Change 2Q17 % Change [Amount in Baht Million] Q-o-Q Y-o

ที่ FPI Ref. FPI.024/2018 12 November 2018 Subject : Management Discussion & Analysis of Performance Results of Quarter 3/2018 To : Board of Directors and President of The Stock Exchange of Thailand

Cost and Expenses Unit: Million Baht Q1/19 Q4/19 Q1/20 Consolidated Statement Revenue 194.29 222.62 167.85 Cost of goods sold 163.05 174.92 137.64 83.92% 78.57% 82.00% Selling Expenses 11.26 13.57 9.13

30, 2020 as follows: Performance Overview For the first six months of 2020, the Company and its subsidiaries had net loss attributable to equity holders of the Company amounting to Baht 49.83 million

annual maintenance cost of service stations, which has caused EBITDA to decline from the previous quarter. Marketing Business performance in 2019 recorded EBITDA of THB 2,279 million, an increment of THB

branches are closed resulting in lower fixed cost, negative margin is lower than last year. The proportion of revenues beauty service business per total revenues was 9%. 2. Key Highlights for performance for

resolution to certify the financial statements and performance of the Company and the Company’s subsidiaries for the third quarter ending 30 September 2018, which has already been examined by the Company’s

) Better cost control, productivity improvement and volume increase leading to higher gross profit margin. 2) Better performance from Portugal and China operations. Portugal and China operations generated

of Denatured Ethanol increased at a slower pace than the price increment of its raw material cost, affecting gross profit per unit of cassava-based Denatured Ethanol to decline. Q1/2018 performance

(Decrease) Million Baht % Total Revenues 1,997.19 1,570.92 426.27 27.14 Sell and Services 1,980.67 1,562.80 417.87 26.74 Other Income 16.52 8.12 8.40 103.45 Cost of Goods Sold and Services (2,046.23