% 6% 14% 16% 2% * Exclude depreciation and amortization expenses Management Discussion & Analysis (MD&A) Q3/2017 Management Discussion & Analysis The company’s operating revenue in Q3/2017 was Baht

%) 72% 2,700 3,175 18% Gross profit margin* (%) 24% 28% 27% (1%) 3% 22% 24% 2% Net profit margin (%) 10% 20% 16% (4%) 6% 14% 16% 2% Q4/2017 and 2017 Financial and Operating Highlights * Exclude costs of

for the company 888 1,052 899 (15%) 1% 2,453 2,873 17% Gross profit margin* (%) 28% 28% 24% (4%) (4%) 24% 27% 3% Net profit margin (%) 21% 16% 13% (3%) (8%) 16% 15% (1%) * Exclude costs of depreciation

approximately US$300-350M per year. 5 1Q 2021 Summary Financials Table 1: Core Financials of Consolidated Business $million (except where stated otherwise) 1Q21 4Q20 1Q20 1Q21 QoQ 1Q21 YoY Production Volume (MMT

may exclude the certification of correct and complete opinion given by the Shariah advisor; (c) the selection of legal advisor and Shariah advisor to give opinions on the issuance of sukuk has

except facial cleansers and gift sets which managed to grow significantly at a rate of 8 9 .4 7 % and 36 .25% respectively thanks to sales promotion campaigns that attracted customers and popularity of

the written agreement made with the customer. Such agreement shall, at least, specify the types of investable assets and investment restrictions. Clause 9. The business operator shall, except otherwise

made with the customer. Such agreement shall, at least, specify the types of investable assets and investment restrictions. Clause 9. The business operator shall, except otherwise specified in the second

operator shall, except otherwise specified in the second paragraph, arrange for collateral to be provided by the borrower in accordance with the rules as follows: (1) the collateral shall be cash in Thai

six months from the date on which the liquidation is completed but not exceeding one year from the date on which the liquidation is completed, except where it is necessary and reasonable and the