located in Mandalay, the Republic of the Union of Myanmar. The first 60MWp of this project will be constructed in late 2020 and the commercial operation date for selling electricity to Ministry of

the contract (physical delivery), or a party may make cash settlement where the cash difference between the exercise price and the market value or price of the underlying asset or variable at a time or

the said provision Baht 23.7 million), annual salaries adjustment but lower variable sales –related expenses; - and a lower CIT Baht 7.7 million Y-O-Y. Yours sincerely, Mr. Anant Kittivittayakul

1,471.82 Million Baht which variable from sale volume  Cost of service as amounting of 959.89 Million Baht or 107.16 Million Baht increased (12.57 percent) when compared to same period of previous year of

Public Company Limited Page 4/5   5.2 The budget for design and construction of shopping center project is worth 200,000,000 baht which will be constructed by the beginning of the second quarter of 2019 6

million baht to 107.25 million baht, increased 12.98 million baht or 13.77 percent, was mainly by the increased in variable trading volume of the securities business, derivatives business, proprietary

were also higher, but these are investments into the future competitiveness of the company. On the upside we expect to see some of the variable cost pressure, notably fuel, to ease in the following

from the second quarter of the year 2019 of Baht 178.69 million or -79.41% due to decrease in cost variable to income such as food and beverage cost and salary, is significant. However, some expenses

credit card fee, variable rental expenses, utility expense, maintenance cost, and outsourced labor cost whereas the depreciation expense has increased due to the adjustments in compliance with the

to revenue from sale ratio is 73.24 %, 70.82 % and 77.04 %, for year 2020, 2021, and 2022 respectively. The main reason is that in 2022, the company has increased variable costs such as raw material