of natural gas power plant for the year 2022 slightly increase when comparing to the year 2021 and according to the formula of gross profit margin which calculated by taking gross margin divided by

the formula of gross profit margin which calculated by taking gross margin divided by sales, so sales increase in the higher portion than gross margin increase will lead to gross profit margin decrease

of gross profit margin which calculated by taking gross margin 5 divided by sales, so sales increase in the higher portion than gross margin increase will lead to gross profit margin decrease

, respectively, because of higher occupancy rate of Ready-Built factories and warehouses. The gross profit margin during 3 months and 6 months ended the second quarter of 2019 were 58.5% and 53.1%. This gross

71.69 Basic Loss Per Share (Baht) -0.03 -0.12 Gross Margin 3.18% 24.25% Net Profit Margin -61.51% -177.93% Total Expenses The 6 Months Operating Result as ended 30 June 2020 Financial Performance of 2nd

: Operating results : 3 months 2020 2019 Increase (Decrease) % Real Estate Revenue 496,928 1,679,837 (1,182,909) (70.42) Gross Profit 140,712 452,876 (312,164) (68.93) Gross profit margin (%) 28.32 26.96 1.36

Gross Margin 7.42% -2.09% Net Profit Margin -12.37% -14.39% Debt to Equity Ratio (Time) 8.96 5.88 Total Expenses The 3-month Operating Result as ended 30 June 2017 Construction Income In the 2nd quarter

Shareholders ' Equity 251.63 202.01 49.62 24.56 Basic Loss Per Share (Baht) -0.36 -0.15 Gross Margin -1.71% 3.04% Net Profit Margin -132.08% -23.48% Debt to Equity Ratio (Time) 3.58 1.78 Total Expenses Summary

1 | MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR 2020 Management Discussion and Analysis for the Year 2020 1 March 2021 In the 3-month period of Q4-2020, UWC reported gross margin of THB 28.04

year, mostly from revenue from UAC which increased Baht 977.69 million, which resulted in the increase in gross profit of Baht 20.62 million and the decrease in gross profit margin for 9-month period of