, Thailand’s pastry and bakery industry face fierce competition from both direct and indirect competitors as result from (1) Pastry and bakery industry face a threat from a price war; hence competitors often use

’ Changing Demand After You continues to launch new product with the introduction of “Croffle”, a combination of waffle and croissant pastry, that comes in 5 flavors which are Plain, Noir&Amber, Honey Cheddar

growth in sales of dessert cafés, which accounts for the largest share of revenue. The growth in sales of dessert cafés was mainly due to the improving COVID-19 situation, as a result more customers are

% Net Profit (Loss) Margin 1 (%) 6.7% 13.4% 6.7% 0.6% 12.4% 11.8% Number of After You dessert café branches as of 31 December 40 51 27.5% 40 51 27.5% • After You Public Company Limited (“the Company

of dessert cafés, which accounts for the largest share of revenue. The growth in sales of dessert cafés was mainly due to the improving COVID-19 situation, as a result more customers were eating-out

%) Net Profit (Loss) Margin 1 (%) 14.5% 14.2% (0.3%) 11.3% 13.5% 2.2% Number of After You dessert café branches as of 30 June 43 55 27.9% 43 55 27.9% • After You Public Company Limited (“the Company

Company 15 34 127% Gross Profit Margin (%) 60.6% 63.6% 3.0% EBITDA Margin1 (%) 29.0% 30.0% 1.0% Net Profit (Loss) Margin 1 (%) 7.5% 12.7% 5.2% Number of After You dessert café branches as of 31 March 39 53

%) Net Profit (Loss) Margin 1 (%) 13.3% 14.6% 1.3% 12.4% 14.5% 2.1% Number of After You dessert café branches as of 31 Dec 51 60 17.6% 51 60 17.6% • After You Public Company Limited (“the Company

decline in revenue from dessert café, which was attributed to the lower traffics in shopping malls and weaker consumption sentiment following COVID-19 concerns together with the closure of shopping malls

from the decline in operating revenue due to the impact from the new COVID-19 wave, as well as the temporary closure of some dessert cafe branches according to the government measures. • The Company’s