E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending March 31, 2020 The Thai economy in the first quarter of 2020 sank into a recession due to the COVID-19 pandemic. Economic activity was crippled almost across the board in light of lockdown measures implemented in several countries to contain the viral transmission. Financial markets went into a tailspin, whereas turbulence was seen in manufacturing, service and tourism sectors,...

/ Energy Drinks, Sport Drinks, and Functional Drinks 2/ Drinking Water, 3-in-1 Coffee and RTD Coffee Sales of branded products by own manufacture were THB 3,713 million, up by THB 446 million or 13.6%. The

manufacture Low Melting Fiber (LMF), with an annual capacity of 60,000 tonnes. LMF is commonly used as a binder fiber in core-sheath constructions to produce HVA applications for automotive and industrial

products by our own manufacture 1/ 1,431 1,290 (141) (9.9) Branded products by 3 rd party's manufacture 2/ 202 237 35 17.3 3 rd party's products for distribution 146 269 123 84.7 Domestic sales 1,778 1,795

domestically in March 2019 which has received a warm welcome from the retailers as well as younger consumers; therefore, strengthening the sales of branded products by own manufacture. Revenue from sales by

17 Amount % Branded products by our own manufacture 1/ 1,497 1,480 (17) (1.1%) 2,861 2,916 55 1.9% Branded products by 3rd party manufacture 2/ 33 230 197 n/m 52 432 380 n/m 3rd party products for

period ending Change 6-month period ending Change 30 Jun 16 30 Jun 17 Amount % 30 Jun 16 30 Jun 17 Amount % Branded products by our own manufacture 1/ 1,497 1,480 (17) (1.1%) 2,861 2,916 55 1.9% Branded

. Revenue from sales 3-month period ending Change 9-month period ending Change Unit: THB million 30 Sep 16 30 Sep 17 Amount (%) 30 Sep 16 30 Sep 17 Amount (%) Branded products by our own manufacture 1/ 1,730

/ Drinking Water, 3-in-1 Coffee and RTD Coffee Sales of branded products by own manufacture were THB 3,414 million, up by THB 487 million or 16.6%. The amount consisted of domestic and overseas sales at the

33 million or 1.6% due to drop in sales of branded product by 3rd party’s manufacture, especially RTD coffee which is the highest contributor in this product group drop by THB 53 million or 28.2% due