Financial performances Comparison is as follows: (Unit : Thousand Baht) Consolidate F/S Q3/2018 Q3/2017 Δ% Q2/2018 Δ% Q1/2018 Δ% Revenues from sales and services 534,355 600,393 -11% 469,770 14% 529,514 1

ส่วนที่ 2 บริษัทที่ออกหลักทรัพย์ - 2.1 วัตถุประสงค์การใช้เงิน Management’s Discussion and Analysis S Hotels and Resorts Public Company Limited S Hotels & Resorts, A Singha Estate Company

SHR MD&A 3Q19_EN Management’s Discussion and Analysis S Hotels and Resorts Public Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page 1 of 8 Management’s

spreading and the company has proceed a plan to reduce costs and various operating expenses to be eased to impact on revenue and profitability by reducing sales and administrative expenses, such as utilities

venture - A Woody Drink company limited (“AWD”)’s management. In June 2020, the Company released Woody C+ Lock Orange Flavoured while began to export to neighboring countries in CLMV in a non- significant

second quarter of the year 2019 which was -37.99%. Selling and administrative expenses Selling and administrative expenses of the second quarter of the year 2020 of Baht 66.82 million decreased from Baht

Company’s expenses mainly consist of operating and administrative expenses, bad debt and doubtful accounts and finance cost. In the first half of 2019, the Company had total consolidated expenses of 8,664

PowerPoint Presentation After You Public Company Limited Management Discussion & Analysis Q1/2021 Management Discussion & Analysis Q1/2021 Executive Summary Q1/2021 Key Financial Highlights 2 Overall

% 10% 2% Total Revenues 5,656 5,005 5,041 1% -11% Operating and administrative expenses Expected credit loss Finance costs Other expenses 2,083 2,392 558 15 2,160 883 469 2 1,921 1,226 453 2 -11% 39% -3

% Other Incomes 7.7 4.3% 17.2 9.7% 9.5 123.4% Earning before Expenses 45.4 25.5% 46.9 26.3% 1.5 3.3% Sale and Services Expenses 21.9 12.3% 22.3 12.5% 0.4 1.8% Administrative Expenses 14.5 8.1% 14.7 8.2% 0.2