Our Ref : No.V 009 /2018 February 26,2019 Subject : Explanation for operation of the year 2018 Attn : Managing Director The Stock Exchange of Thailand Varopakorn Public Company Limited would like to

COMPANY LIMITED (Mr. Sahasee Chitanondh) Managing Director CC. Corporate Monitoring Department, The Securities and Exchange Commission

transaction size is more than three percent of the value of the net tangible assets of the Company, calculated from the reviewed interim consolidated financial statements of the Company for the six-month period

growth, even though their growth may subside over-year due to a high 2017 base. On the inflation front, headline inflation for 2018 is expected to average 1.1 percent, slightly higher than the 0.7 percent

finance than the prior period. - 3 - Net Profit In the three-month period ended 30 September 2018 and 2017, net profit of the Company which accounted for Baht 51 million and Baht 38 million, respectively

the transaction. In this regard, the Company has considered and viewed that the reason for re- negotiation is reasonable and that the price of the Company’s shares has materially decreased. Although

six-month period ended 30 June 2019 and 2018, total cost of sales and services of the Company, which is accounted for Baht 800 million and Baht 759 million, respectively, increased by Baht 41 million or

in 2016 has been declined. Cost of Sales and Services In the six-month period ended 30 June 2019 and 2018, total cost of sales and services of the Company, which is accounted for Baht 800 million and

statements for the period ending 31 December 2017 is equivalent to 48.35 percent calculated based on the total value of the consideration method, and the Company has no transaction about Acquisition of Assets

year due to the fact that Company had mainly international client which used Dollar currency and last year Thai Baht currency was appreciation so Company had loss from exchange rate. Finance costs Net