Management Discussion and Analysis For the third quarter and nine-month period ended September 30, 2018 (Unreviewed) Kiatnakin Bank Public Company Limited Investor Relations Email: investor_relations

Management Discussion and Analysis For the third quarter and nine-month period ended September 30, 2018 Kiatnakin Bank Public Company Limited Investor Relations Email: investor_relations

warehouse leasing, the contract period is subjected to 3 months. Since Firstwood Co., Ltd. (the lessor) plans to develop the land and to renovate buildings of the rental warehouse, the leasing contract can be

%) (0.81%) Finance costs (50.61 ) (62.30 ) (11.69 ) 18.76% (28.81%) (21.06%) Tax income (expense) (2.69 ) (0.26 ) 2.43 (934.62%) (1.53%) (0.09%) Profit (loss) for the period (88.43 ) (259.81 ) 171.38 65.96

%) 0.18% Finance costs (37.20 ) (42.77 ) (5.57 ) 13.02% (26.47%) (19.55%) Tax income (expense) - - N/A N/A 0.00% N/A Profit (loss) for the period (59.89 ) (169.04 ) 109.15 64.57% (42.62%) (77.27%) Profit

expenditures of state enterprises. Exports during the first 8 months of 2019 contracted 2.2% from the same period last year with contractions across all categories. Excluding exports of gold, value of exports

enterprises. Exports during the first 9 months of 2019 contracted 2.1% from the same period last year with contractions across all categories. Excluding exports of gold, value of exports contracted 4.0% as a

(%) Return on Assets * 22.4% 16.4% Return on Equity * 27.1% 24.2% Working Capital Management (Days) Trade Receivable Period 75 68 Inventory Period ** 31 38 Trade Payable Period 50 49 Leverage Ratios (x

for potential future funding methods in overseas capital market whether privately and publicly. Estimated completion period FY2020/Q1 Acquisition and Disposition on Fixed Asset 2.86% of total asset in

) (37.20 ) (0.71 ) 1.91% (23.73%) (26.47%) Tax income (expense) (3.15 ) 0.00 (3.15 ) N/A (1.97%) 0.00% Profit (loss) for the period (84.18 ) (59.89 ) (24.29 ) (40.56%) (52.68%) (42.62%) Basic earnings per