main factors for the increase were (1) the increased in marketing expenses and (2) increased in spending on delivery services fee such as Food Panda. Administrative Expenses Administration costs

logistics. Selling Expenses Selling expenses increased from THB 68.0 Mn in 9M17 to THB 81.4 Mn in 9M18, an increase of THB 13.4 Mn or 19.7%. The main factor for the increase was increased marketing expenses

from THB 56.2 Mn in 2016 to THB 86.7 Mn in 2017, 2.6% and 3.4% of total revenue during the two years respectively. This was an increase of THB 30.5 Mn or 54.2%. The main factor for the increase was

respectively, stable at 3.7% of total revenue during both years. This was an increase of THB 13.4 Mn or 19.7% and the main factor for the increase was increased marketing expenses Administrative Expenses For the

Baht (6.83) million or (28.1%) as the following reasons:  Total revenue increased Baht 36.70 million or 9.0% from Baht 406.54 million in Q1/2018 to Baht 443.24 million in Q1/2019. The main increase was

the first 3 months of 2019 because during the period, ICE had a limitation in finding new customers and the main factor was the spread of COVID – 19, some customers postponed the purchase decision

companies in 2017 was 9,612.85 million THB, decreasing 4,988.67 million THB or 34.17% from that in 2016. More than 90% of the main income was achieved from sale which decreased from 13,855.41 million THB in

1 Ref: AC.024/2019 3 August 2019 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

1 Ref: AC.017/2018 14 May 2018 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

gross main income of the Company and subsidiary companies in Q3/2018 was 2,290.65 million THB, decreasing 55.83 million THB from Q3/2017 or 2.38% only. But the gross profit from sales has increased 6.82