GFPT Public Company Limited Interim Management Discussion and Analysis for the 1st Quarter 2019 Page 1 of 11 Management Discussion and Analysis This interim MD&A report has been prepared based on the

right to operate expressway sector A, B, C were fully amortized in the first quarter of the year 2020 as well as efficient cost management which suitable for the situation. 2. Rail business The Company

Civil Aviation Authority of Thailand (CAAT) regarding to COVID-19 spread out situation. However, the company resumed domestic routes from Bangkok to Samui since 15 May 2020 and Bangkok to Chiang Mai

until now, the situation of which the Company always has been aware of. Therefore, the Company has adjusted its strategy to diversify product portfolio beyond traditional 100% fruit juice. The Company

our staff and customers remains our top priority. The Company constantly evaluate the situation and take proactive action to manage up-to-date under condition that are changing rapidly by aware of the

can be adjusted depending on changes of future situation. GFPT Public Company Limited Management Discussion and Analysis for the Year 2018 Page 10 of 14 Management Discussion & Analysis Summary of

year for the next 3-5 years. However, this expansion plan can be adjusted depending on changes of future situation. GFPT Public Company Limited Management Discussion and Analysis for the Year 2019 Page

restaurant closure. In addition, the group had lowered the royalty fee to help franchisees during the COVID-19 situation. Even though the company had an increase in the initial membership fee income from the

liquidity risk of operating cash flow under the COVID 19 situation. In addition, the Company has received soft loan facility of 5,000 million THB from Government Saving Bank in Thailand and 68 billion MMK

recording NRV in the past few quarters, affecting the profitability of the Company. This situation affects all entrepreneurs in the palm oil industry as a whole. At present, the Company uses a strategy to set