Page 1 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Executive Summary Bank of Thailand, in late March 2020, slashed its forecast for Thai economy from the

data: 1.1 Definitions and examples of data collected by the SEC Office Personal data: Data of a personal nature, for example, identification number/passport number, title, name, surname (Thai/English

products. For the domestic, the Lockdown measure from the Thai government resulted in the hypermarket stores such as Tesco Lotus, Big C, Home Pro, etc. that are the customers of the company necessary to

with non-controlling capability in subsidiary companies 21.75 - 6.40 439.84% 59.99 - 14.30 519.51% The Thai economy in Q3 / 2 0 2 0 improved from the previous quarter. In accordance with the relaxation

expenses 1,357.0 1,901.2 2,056.1 (544.2) (28.6) (699.1) (34.0) Profit for the period 117.2 136.9 137.2 (19.7) (14.4) (20.0) (14.6) In Q3-2021, the overall Thai economy began to improve from Q2-2021, due to

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11 FEB 2019 1 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2018 MD&A FY 2018 (ended 31 December 2018) MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS The overall Thai advertising market has been

/ Impact from the adoption of Thai Financial Reporting Standards 16 Leases (TFRS 16) since 1 January 2020 which caused higher depreciation and interest expenses (net after tax). Operating Highlights Q1/2019

Dusit Thani PLC Management Discussion and Analysis For 2Q20 and 6M20 P a g e | 1 Executive Summary The COVID-19 pandemic has severely hit Thai and global economy, especially the tourism and

of 2020 (a copy in Thai and English) 2. Management Discussion and Analysis (MD&A) for the first quarter of 2020 (a copy in Thai and English) 3. Company's performance report, Form 45 for the first