of time would be proportionately lower than those of 1-year policies. Furthermore, underwriting expense is to be fully booked when sales is recorded, whereas premiums is incrementally earned. 2. THB

expense was equivalent to Baht 3.19 million, it increased by Baht 2.50 million or 78.31%. In this regard, the sale expense increased mainly because of the business of billboard rental service invested by

expense and rental expense. Non-Recurring Item In Q3’2018, the Company recognized insurance claim revenue for business interruption due to the fire incident on November 27, 2017 at UHT production line

production efficiency. 3. Sales and administrative expense increased by 10.84 million baht (from 116.99 million baht to 127.83 million baht) due to increase of sales expense in proportion to the extra sales

the plants in Quarter 1/2018. 2. Sales cost to revenue ratio increased by 6.72% (from 89.71% to 96.43%). The main factors were that the price of raw material has been increased during Quarter 1/2018

ratio for year 2015 was decreased by 17.02 percent due to the Company had higher cost of construction. 4. Expense 4.1 Selling Expenses For year 2015, the selling expenses was decreased by Baht 6.09

Feb 23, 2018 Subject: Management Discussion and Analysis for Year Ended December 31, 2017 To: Listing Department, Stock Exchange of Thailand Patkol Public Company Limited : Management Discussion and

of exchange rate. 5. Distribution Expense and Administrative Expense decreased by 7.30 million baht (from 110.78 million baht in 2019 to 103.48 million baht in 2020) because the company has a policy to

from fluctuation of exchange rate. 5. Distribution Expense increased by 12.91 million baht (from 50.30 million baht in 2019 to 63.21 million baht in 2020) due to increased sales. 6. Administrative

service. 3. Administrative expenses were Baht 286.57 million; decreased Baht 22.52 million or 7.29% from last year. This is result from improvement in administrative expense to align with current operation