., BANGKAE, BANGKAE, BANGKOK, THAILAND. 10160 Tel: 02-455-2888 Fax: 02-455-2763 (“TRANSLATION”) TG 145/2562 November 11, 2019 Subject: Clarification of the Operating Result for the significant change Attention

ดิง ชัน 20 ซอยสุขุมวิท 55 ถนนสุขุมวิท แขวงคลองตนัเหนือ เขตวฒันา กรุงเทพมหานคร 10110 Expenses Selling expenses Selling expenses was 290.4 MB, an increased by 82.8 MB or 39.9% y-o-y, significant increase

1,375 million Baht. The significant increase was mainly due to the ability to continually transfer of The Ritz-Carlton Residences, Bangkok at MahaNakhon totaling of 94 residences, and to recognize revenue

addition, the said transaction is considered as a disposal of asset, notwithstanding, does not belong to a disposal of significant asset of listed company. 7. Rationale and necessity of the transaction

total revenue. The net profit increased by 318.11 million Baht or 239.32% from the same period last year. The significant increase in revenue is the result of ownership transfer. Please be informed

to the net profit of Baht 21.99 million in the Quarter 3/2018. Our book value per share as at 30 September 2019 stood at 60.01 Baht. (as at 30 September 2018 : at 32.80 Baht) Significant changing is as

4.93 percent from year end 2018. Significant changes was included Cash and cash equivalents was decreased in an amounting of Baht 7.89 million, which was a significant decrease from purchase property

, mainly due to a decrease in Brokerage fees, The significant revenues are as follows: 1.1 Brokerage fees The Company’s brokerage fees in 2019 was Baht 689 million, a decrease of 23% from the previous year

2018. Our book value per share as at 31 December 2019 stood at 59.74 Baht Significant changing is as follows: 1) Revenue from sale in Baht 754.72 million decreased by Baht 19.80 million or 2.56% (2018

and listed securities. While in 2018 the Company recorded a significant amount of unrealized loss from mark-to-market price of investment in listed equity securities, coupled with the loss on sale of