1 Forth Smart Service Public Company Limited (FSMART) 1Q2020 Management Discussion and Analysis Operational Summary in 2Q20 (affected by Covid-19 pandemic and measurements from government) • Net

net profit were Baht 45,740.09 million and Baht 3,609.72 million, down by 9.41% and 18.49% respectively. The declining of operating result over last year mainly due to the store closure in both Thailand

that will support continuous growth momentum in demand for medical devices in Thailand. In 2019, the Company has improved and increased the sales team to increase sales efficiency in distributor of

% 29.99 14.16 111.79% Net income 77.91 21.14 268.54% 201.68 34.31 487.82% Profit sharing Attributed to the shareholders of the company 56.16 27.54 103.92% 141.69 48.62 191.42% Attributed to the stakeholders

THB 172,138 million, an increase of 19% YoY, recorded EBITDA of THB 13,663 million, an increase of 20% YoY, with net profit of THB 6,405 million, an increase of 35% YoY, with net profit attributable to

three months from the date on which the Board of Directors of the Company has the resolution. A purpose is to support the Company’s financial liquidity to be sufficient for business operation and to

98% 626 624 0.3% Natural Resource Business Group 5/ (101) 145 -170% (81) -26% 21 24 -11% Others 6/ (75) (94) 20% (61) -24% (245) (190) -29% Net profit attributable to owners of the parent 370 528 -30

%) (18.34) 991.35% Financial Cost and Income tax expenses 4.54 0.07% (6.76) (0.12%) 11.30 167.16% Net Profit (Loss) 423.62 6.59% 488.52 8.86% (64.90) (13.29%) Earnings per share (Baht per share) 0.3239 0.3735

comprises of key expenses as follows: (1) staff cost amounted to THB 136 million, up by THB 20 million or 17.5% in correlation to the rising full-time employment to support ACM’s operation and in the increase

ICUK aligning to the spending control scheme in order to achieve an acceptable return on sales, and a reduction in sponsorship fees to support an international football club in parallel to the terms and