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- 10.0% Q1'18 Q2'18 Q3'18 4.0% 1.9% 1.7% -0.7% -0.1% -1.7% 0.0% -3.5% -4.1% -5.0% OPM ** 20.0% 25.0% 15.4% 14.1% 15.0% 12.6% 20.0% 10.7% 1 1.0% 10.0% 7.7% 6.8% 5.9% 5.1% 5.0% Gross Profit Margin & Operating Profit Margin Thai-Livestock GPM Thai-Aqua GPM OPM** Oversea-Livestock Q1'20 Q4'19 Q3'19 Q2'19 Q1'19 Q4'18 -5.0% Q3'18 Q2'18 Q1'18 15.0% 5.3% 10.7% 10.0% 10.8% 10.6% 10.0% 7.8% 6.6% 6.6% 4.4% 3.9% 3.5% 4.3% 5.0% 5.0% 3.4% 1.1% -1.0% 0.0% -3.3% -3.8% -3.7% 25.0% 20.0% 15.0% 10.3% 10.0% Q1'18 Q2'18 8.3% 7.3% 7.2% 5.0% 5.4% 5.0% 3.1% 1.3% 0.0% 16.7% 15.7% 16.1% 14.4% 13.9% 12.6% 5.0% GPM ** OPM Oversea-Aqua OPM ** 25.0% 20.4% 19.2% 19.4% 20.4% 20.0% 20.2% 17.9% 17.1% 16.3% 15.4% 14.7% 14.7% 15.0% 13.5% 13.3% 11.4% 12.0% 11.7% 11.4% 9.1% 9.2% 10.0% Q4'18 Q1'19 Q2'19 Q1'20 Q4'19 Q3'19 GPM 0.0% Q3'18 Q4'18 ** Exclude gain/loss from fair value adjustment of biological assets Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 7.6% 5.0% Q3'19 Q2'19 Q1'19 Q4'18 Q3'18 Q2'18 Q1'18 4.7% Q4'19 Q1'20 P.18

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