vehicles to be able to use high speed diesel fuel, B20. Increasing demand for raw materials for biodiesel production Which may affect the sales volume of the Company's products That will increase according

project volume resulting in a price competition and the cost of raw materials used in production is higher than the year 2018. 4. Cost from the water management business for quarter 1/2019 representing

installed in Q2/2018 – Q1/2019. However, the main variable costs including raw materials and consumables used decreased from the previous year as the production slowed down. The only selling and

the cost of raw materials used in production is lower than the year 2018. 4. Cost from the water management business for quarter 2/2019 was 70.48% of income. Cost per income rate decreased compared to

increased of finished goods Baht 85.0 million, work in process Baht 0.2 million, supplies Baht 6.0 million, decreased of raw materials Baht 54.4 million and goods in transit Baht 18.0 million. -2- 5

Discussion and Analysis for the quarter 1 year 2018 To The President of the Stock Exchange of Thailand Management’s Discussion and Analysis Consolidated Financial Results for the quarter 1 year 2018 For the

Stock Exchange of Thailand According to TS Flour Mill Public Company Limited (the "Company") has submitted its financial statements for the first quarter ended March 31, 2018, the Company's financial

by increased of finished goods Baht 275.25 million, work in process Baht 1.25 million, raw materials Baht 16.69 Baht, supplies Baht 29.55 million and goods in transit Baht 6.13 million. -2- 5

Microsoft Word - MD&A_Q2_2018_ENG 1 NPPG.064/2018 14 August 2018 Subject Management Discussion and Analysis for the quarter 2 year 2018 To The President of the Stock Exchange of Thailand Management’s

price and substitution of other raw materials. 1.2 The company’s income from energy business in Q2/2018 was Baht 55.88 million, increased from Q2/2017 the company’s income from energy business was Baht