73 1 / 3 Pef. MD 004/2018 20th February 2018 Subj Management Discussion and Analysis (MD&A) of 2017 Dear Managing Director of Stock Exchange of Thailand We, Patum Rice Mill and Granary Public Company

(Translation) PRG.MD. 021/2019 February 26th, 2019 Subject: Management Discussion and Analysis (MD&A) of 2018 Attention: Managing Director of the Stock Exchange of Thailand We, Patum Rice Mill and

1 / 4 (Translation) PRG.MD. 040/2019 May 14th, 2019 Subject: Management Discussion and Analysis (MD&A) Q1/2019 Attention: Managing Director of the Stock Exchange of Thailand We, Patum Rice Mill and

73 1 / 4 Pef. MD 048/2019 13th August 2019. Subj Management Discussion and Analysis (MD&A) Q2/2019 Dear Managing Director of Stock Exchange of Thailand We, Patum Rice Mill and Granary Public Company

73 1 / 4 Ref. MD 016/2018 10th May 2018. Subj Management Discussion and Analysis (MD&A) Q1/2018 Dear Managing Director of Stock Exchange of Thailand We, Patum Rice Mill and Granary Public Company

73 1 / 4 Pef. MD 066/2019 8th November 2019. Subj Management Discussion and Analysis (MD&A) Q3/2019 Dear Managing Director of Stock Exchange of Thailand We, Patum Rice Mill and Granary Public Company

73 1 / 4 (Translation) Pef. MD 014/2020 14th May 2020. Subj Management Discussion and Analysis (MD&A) Q1/2020 Dear Managing Director of Stock Exchange of Thailand We, Patum Rice Mill and Granary

% 986.58 876.62 13% Gross margin 108.76 79.99 36% 417.39 332.84 25% % Gross margin 30% 25% 4% 30% 28% 2% Administrative expenses 40.51 38.10 6% 153.19 137.37 12% Earnings before interest, taxes and

of hospital operations 257.36 226.88 13% Gross margin 125.57 86.97 44% % Gross margin 33% 28% 5% Administrative expenses 47.84 35.48 35% Earnings before interest, taxes and depreciation 105.66 75.92 39

reasons for the decline of cost ratio not only stemmed from the increase of SW income and non-sw income per head but also from the efficient cost management particularly staff cost. Administrative Expenses