follows; 1. The total revenue of the company decreased by 132.77 million baht or 2.37% YoY due to the decrease in motorcycle production which was lower than the expectation and lower than the production

decreased 47.04 million baht or 3.27% comparing to the same period last year, aligned with the total motorcycle production and the decrease in purchasing power of the farmers. 2. Cost of Sales and Services

and KBank ATMs have increased to 13% of total personal loan sales. - Motorcycle and Used Car Hire Purchase In the first quarter of 2019, motorcycle and used car hire purchase in Thailand and electrical

motorcycle production. 2. The cost of sales and services decreased by 5.21 million baht or 0.43% from the same period last year mainly due to the decrease of raw material costs around 58.43 million baht which

cost. - Motorcycle and Used Car Hire Purchase In the first quarter of 2018, motorcycle and used car hire purchase in Thailand and electrical appliances, mobile phone and etc. in oversea business, sharing

. The total revenue of the company decreased by 132.77 million baht or 2.39% YoY due to the decrease in motorcycle production which was lower than the expectation and lower than the production amount in

affected the overall global economy as well as the slowdown of Thailand economy. This affected the production of Thai automotive and motorcycle, as well as the sales and production costs of the Company

THB The acquisition of FKRMM's shares is a transaction of which NDR expects immediately benef for more than 10 years, and has continuously increase in sales of motorcycle of with 4 distribution

/USD 32.31 in 2018 which was 5% stronger than the THB/USD 33.93 in 2017. Exceptional Items There were no Exceptional Items in 2019, 2018 or 2017. Subsequent Event None reviewQ419.xlsx MD&A 2019 24/02

34.25 in 2015. Exceptional Items There were no Exceptional Items in 2017, 2016 or 2015. Subsequent Event None