DCORP 041/2020 August 13, 2020 Subject Management Discussion and Analysis – Explanation of net profit for the quarter ended June 30, 2020 and the increase in the overall operations of more than 20 percent

DCORP 025/2020 May 13, 2020 Subject: Management Discussion and Analysis – Explanation of net profit for the quarter ended March 31, 2020 and the increase in the overall operations of more than 20 percent

Discussion and Analysis EXECUTIVE SUMMARY SIGNIFICANT EVENTS New Capital Structure and Use of Proceed from IPO Regarding our IPO, we received net proceed from IPO in the amount of Baht 11,078 million composing

money received from the IPO after deducting the actual expenses 4. Acquisition of all ordinary shares of Modern Pharma Company Limited, "Modern Company", which is a transaction concerning asset

)% Fibers 51 59 52 (3)% 200 212 (6)% Feedstock 154 114 87 76% 476 217 120% Core EBIT 198 155 135 46% 613 410 49% Core Net Profit after Tax and NCI (US$ M) 137 110 82 68% 416 242 72% Core Net Profit after Tax

security N/A 2 Net Operating Profit Criteria Cannot be calculated since disposed asset is not security N/A 3 Total Value of Consideration Criteria Total value of consideration x 100 / Total asset of the

consolidated gross profit in Q2-2016 in amount of THB 806 million. (Separated gross loss of THB 167 million for Q2-2017 and separated gross profit of THB 330 million for Q2-2016). The main reason of the

payment transaction based on the net profit from operations. 3 / Remuneration for the company Which will be received from the sale of this investment in the amount of MB 307.01, combined with a loan with

increase of cost from raw material handling by the Company itself after terminate contract with Unit : million Baht Q 2/2019 Q 2/2018 Group Revenues 5,192 7,815 Group EBITDA 640 555 Group Net Profit (Loss

510 - 940 Million through the concession agreement period. Overview Operational Results In the first quarter of the year 2018, the Company had the net profit attributable to equity holders of the