. Management Discussion and Analysis 2.1. Selected Financial Position and Operating Results 2.2. Cash Collection from NPLs and NPAs Management Businesses 2.3. Vintage Analysis 2.4. NPLs by Portfolio

and its subsidiaries’ operating results for the quarter ended March 31st 2018 Unit: THB Million Q1/2017 Q4/2017 Q1/2018 YoY QoQ Total Revenue 43,995 46,306 44,226 1% -4% Accounting EBITDA 4,075 3,494

increased overall average operating rate of 86%. Higher freight rates positively impacted sales price in our respective domestic markets. This translated into an overall Fibers Core EBITDA growth of 23% QoQ

9.45 8.74 0.71 8.09% 34.34 48.59 (14.26) (29.34%) Selling and administrative expenses 151.65 156.44 (4.78) (3.06%) 487.84 457.57 30.27 6.62% Operating profit 330.27 307.54 22.73 7.39% 1,548.17 1,674.52

property, plant and equipment (PP&E), THB 2,590 million (15.31% of total assets), in investments in associated companies, THB 487 million (2.88% of total assets) in grandparent chicken and parent chicken and

equipment (PP&E) , THB 2,707.03 million (14.66% of total assets) , in investments in associated companies, THB 530.81 million (2.88% of total assets) in grandparent chicken and parent chicken and THB 696.32

assets) in property, plant and equipment (PP&E), THB 2,733.42 million (14.86% of total assets), in investments in associated companies, THB 529.21 million (2.88% of total assets) in grandparent chicken and

assets, THB 8,300.27 million ( 46. 36% of total assets) in property, plant and equipment ( PP&E) , THB 2,634. 18 million ( 14. 71% of total assets) , in investments in associated companies, THB 458. 79

equal to THB 19,584.34 million including THB 5,772.63 million (29.48% of total assets) in current assets, THB 9,229.59 million (47.13% of total assets) in property, plant and equipment (PP&E) , THB

out the area. The group also have ticket counter, food and beverage area clean with antibiotic agent every 60 minutes. The park seating also provides sufficient distancing and finally all the equipment