1 Forth Smart Service Public Company Limited (FSMART) 3Q17 Management Discussion and Analysis Operational Summary in 3Q17  Total revenue from core business was Bt788mn, an increase of 42.1% YoY

1 Forth Smart Service Public Company Limited (FSMART) 4Q17 Management Discussion and Analysis Operational Summary in 4Q17  Total revenue from core business was Bt3,105mn, an increase of 38.3 % YoY

แบบแสดงราการข้อมูลประจำปี (UNOFFICIAL TRANSLATION) (Updated 2015) PAGE 4. Certification of Leader of Audit Firm Date ........ Month ............ Year.......... To: Secretary-General Office of the

(UNOFFICIAL TRANSLATION) (Updated 2015) 4. Certification of Leader of Audit Firm Date ........ Month ............ Year.......... To: Secretary-General Office of the Securities and Exchange Commission

1 Forth Smart Service Public Company Limited (FSMART) 1Q18 Management Discussion and Analysis Operational Summary in 1Q18  Total revenue from core business was Bt842.14mn, an increase of 17.8 % YoY

1 Forth Smart Service Public Company Limited (FSMART) 2Q18 Management Discussion and Analysis Operational Summary in 2Q18  Total revenue from core business was Bt848.81mn, an increase of 10.4% YoY

1 Forth Smart Service Public Company Limited (FSMART) 2Q18 Management Discussion and Analysis Operational Summary in 2Q18  Total revenue from core business was Bt848.81mn, an increase of 10.4% YoY

absence of revenue from the property development business and increase in administrative expense as explained above. Summary of Financial Performance Analysis of the Operating Results Revenues For the

consecutively), with record high revenue of THB 282, an increase by 45.8% YoY and the high quarterly profit of THB 73mn. Consequently, we recorded the biggest annual revenue and profit in the company history in

and Administrative expenses (“SG&A”) increased by 11.7% YoY to THB 210mn. The increase was primarily from the aforementioned consolidation. SG&A to revenue ratio increased from 27.2% to 41.0%. The