) was low and could not cover cost and expense. 2. Business Outlook Total domestic Hot Rolled Steel consumption for Quarter 1, 2020 stood 1.51 million MT and decreased by 3.4% compared to same quarter

advance or installment loans (AEON Happy Pay). Thus, the Company provides more channels to facilitate financial services to customers and reduce Company’s operation cost. Moreover, loan income from AEON

measures to maintain profitability; namely controlling operational costs such as marketing expenses, utility expenses, over-time compensation, associate’s commission and outsourced labor cost. The

119.78 2.53 117.25 4,634.39 Cost of construction contracts (368.25) (333.53) 34.72 10.41 Gross profit 46.09 41.01 5.08 12.38 Other income 2.70 0.27 2.43 910.24 Administrative expenses (21.86) (16.63) 5.23

274.90 -0.10 549.51 529.72 3.74 Cost of goods sold 154.23 133.04 15.93 151.91 1.53 306.13 279.60 9.49 Selling expenses and administrative expenses 115.04 103.96 10.66 105.32 9.23 220.36 195.70 12.60

profit 1,485,253 1,058,006 427,247 40.38 Gross profit margin (%) 32.67 34.52 (1.86) (5.38) Total revenue 4,713,138 3,264,365 1,448,772 44.38 Total Cost & Expense 4,385,762 3,012,725 1,373,037 45.57 Selling

impairment - (21) - - - (21) 21 (100%) Profit (Loss) before the effects of foreign exchange, deferred income tax and lease income 16,043 1,707 95 49 16,138 1,756 14,382 100% Deferred income (expense) tax 65

(expense) tax 88 163 1 6 89 169 (80) (47%) Profit (Loss) before the effects of foreign exchange and lease income 2,987 2,782 (20) (19) 2,967 2,763 204 7% Profit (Loss) from foreign exchange 2,017 1,194 (1) 1

member cards increased 4% y-y. For branch development network, the Company has opened 2 new branch and closed down 6 branches to save operation cost. As a result, the Company has 107 branches, opened AEON

Analysis of the Company’s Performance for the year ended December 31, 2019 Baht Million 2018 2019 +/(-) +/(-) % Total revenues 1,422.61 1,710.75 288.14 20.25% EBIT 354.24 412.93 58.69 16.57% Finance cost