Osotspa Public Company Limited Q2’20 and 1H’20 Management’s Discussion and Analysis 13 August 2020 Q2’20 and 1H’20 Management Discussion & Analysis Page 1/6 Financial Highlights - Despite the ongoing

revenue from bad debt recovery continued growing by 19% y-y and the revenue from overseas subsidiaries grew by 18% y-y. Details of each business can be described as follows: Profit and Loss Statement

: Overall Financial Performance Unit: million baht Jan-Dec 2018 % Jan-Dec 2019 % Change % YoY Revenue 523.23 100.0% 613.86 100.0% 90.63 17.3% Cost 285.52 54.6% 332.39 54.1% 46.87 16.4% Gross Profit 237.71

1: Overall Financial Performance Unit: million baht Jan-Mar 2019 % Jan-Mar 2020 % Change % YoY Revenue 132.54 100.0% 179.21 100.0% 46.67 35.2% Cost (73.41) (55.4%) (93.71) (52.3%) (20.30) 27.7% Gross

, 2020 as follows: Management Discussion and Analysis For the Nine months ended September 30, 2020 Summary of Performance Sales Revenue For the nine months ended 30 September 2019 and 2020, the Company

and its subsidiaries had the operation results for the year ended December 31, 2018 with the following details: unit: THB million 2018 2017 Change (THB mill.) Change (%) Revenue from Sales and Service

% million baht % million baht % Revenue from sale of real estate 2,680.99 98.98 1,314.41 99.04 2,680.99 98.46 1,314.41 97.96 1,366.58 103.97 Other income 27.66 1.02 12.72 0.96 41.94 1.54 27.31 2.04 14.94

baht % million baht % Revenue from sale of real estate 1,314.41 99.04 553.18 97.35 1,314.41 97.96 553.18 97.35 761.23 137.61 Other income 12.72 0.96 15.06 2.65 27.31 2.04 15.06 2.65 (2.34) (15.54) Total

operating result for the first quarter of 2019 as follows:- Total Revenue In 1Q19, the total revenue was Baht 774.5 million, increased 12.3% from 1Q18 and decreased 0.1% from 4Q18. In 1Q19, the revenue from

Company”) would like to submit this Management Discussion and Analysis for 6-month period ended 30 June 2018 with details as follows: Revenue Total revenue of the Company for the first 6 months of 2017 and