, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business

ratio was also close to the target, at 43.96 percent. At the same time, our robust capital position was sufficient to cushion against risk, and greater than the Bank of Thailand’s requirement. As

backlog was THB 16,745mn, decreasing by 6.9% as compared to the end of 2018 of THB 17,981mn. Although the JVs had sturdy sales in The Line Wongsawang, The Line Ratchathewi and The Line Phahonyothin Park

percent on the back of strong exports and tourism as well as the acceleration in public and private investment. Exports and tourism are expected to remain robust given the continuing recovery of major

of subsidiaries which classify as assets held for sale MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 14 AUGUST 2019 U CITY PCL 2Q 2019 - MD&A (for three-month period ended 30 June 2019) 8 U CITY PCL

change target. In classifying economic activities, ASEAN Taxonomy uses Traffic Light System similar to Thailand Taxonomy, which will classify economic activities into three tiers: (1) Green tier

functional drinks (+26.2 YoY). Domestic beverage continued showing strong growth at 4.6% YoY from both energy drinks and functional drinks. Speed-up health and hygiene innovations made a turnaround of domestic

revenue of Bt33,293mn, improving 2.9% YoY and 1.6% QoQ, driven by strong growth in fixed broadband and non- mobile enterprise business together with a recovery of mobile business. Mobile business improved

-up 5G perception. Restrictions in the quarter also supported demand for Fixed broadband (FBB) which delivered strong growth of 23% YoY and 7.4% QoQ as well as non-mobile enterprise business growing 23

strong network quality. The full-year guidance and outlook for 2018 was maintained as presented on page 6. Significant Events 1. AIS, via AWN, currently holds 81.47% of total CSL’s outstanding share and is