amount. For the quarter, the market volume of energy drink industry in Thailand contracted by 13.4% while Carabao Dang energy drink remained the 2nd largest brand, commanding 21.4% volume share

Business Quarterly Last Twelve Months $million (except where stated otherwise) 2Q19 1Q19 2Q18 2Q19 YoY LTM 2Q19 LTM 2Q18 LTM YoY Production Volume (kt) 3,148 2,966 2,546 24% 11,662 9,564 22% Consolidated

. Increasing household debts and loan rejection rate of financial institutions are the major obstacles. In the past, the strategy of the Company emphasizes the development of large-scale projects focusing mainly

institutions has become very strict and loan rejection rate has been rising. In addition, the projects developed by the Company are large-scale, resulting in an increase inventory. The Company, therefore

of another large plot of land under its project called K.C. Garden Project in the value of Baht 65.00 million during the three-month period (3rd quarter) of 2016 and the Company’s sales of properties

period last year, especially in the tourism sector. However, exports and private investment – two major economic drivers – continued to slow in line with the sluggish global economy and trade volume amid

Limited Page 1/14 Management Discussion and Analysis for year 2019 1. Highlights Unit: million Baht Year 2019 Year 2018 P er fo rm a n ce Revenues 12,923 29,910 Sales Volume (k tons) 710 1,447 EBITDA (271

greater market share. KASIKORN ASSET MANAGEMENT CO., LTD. remained at the top of the mutual fund business. KASIKORN LEASING CO., LTD. saw satisfactory lending business volume in line with the overall

budget for 28 consecutive projects over the last 7 years. PPAs signing for two large scale Vietnam solar projects with total capacity of 677 MW. In September 5, 2018, Dau Tieng Ninh Energy Joint Stock

: Core Financials of Consolidated Business Full Year Quarterly $million (except where stated otherwise) 2018 2017 2018 YoY 4Q18 3Q18 4Q17 4Q18 YoY Production Volume (kt) 10,419 9,103 14% 2,818 2,730 2,306