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Samui, Phuket, Krabi and Chiang Mai. In addition, codesharing with Xiamen Airline would allow passengers to connect with Phnom Penh, the capital city of Cambodia. In the second quarter, total revenue of

loss this quarter. MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 15 MAY 2018 U CITY PCL 1Q 2018 MD&A (for the quarter ended 31 March 2018) 7 U CITY PCL 15 MAY 2018 CAPITAL STRUCTURE As of 31 March 2018, U

expenditure for U City was THB 937mn. Capital expenditure excludes the EBT of UE or investments or long-term loans to related parties, which is classified as an investment. CASH FLOW NINE-MONTHS CASH FLOW

2018 and (iii) an increase in other components of shareholders’ equity of THB (107)mn. CAPITAL STRUCTURE As of 30 June 2018, U City reported total interest-bearing debt of THB 22,192mn, an increase of