@halcyon.co.th No. CS-2563/013 14 August 2020 Subject: Management Discussion and Analysis for the 3-Month Period Ended 31 March 2020 To: Directors and Managers The Stock Exchange of Thailand Halcyon Technology

Collaboration for Combating Investment Scams Project, initiated by the Stock Exchange of Thailand (SET). The project aims to facilitate multilateral cooperation to fight against fraudulent activities through

market to become the GMS Connector as follows: (1)  Supporting fundraising of foreign companies, especially GMS countries to list their shares on the Stock Exchange of Thailand by enacting primary listing

Thai capital market to become the GMS Connector as follows: (1)  Supporting fundraising of foreign companies, especially GMS countries to list their shares on the Stock Exchange of Thailand by enacting

Meeting of Shareholders No. 1/2018 (Amendment No.1) To The President The Stock Exchange of Thailand Attachment 1. Information Memorandum regarding the Offering and Allocation of the Newly Issued Shares of

to investors in private placement, the acquisition of assets and convening the Extraordinary General Meeting of the Shareholders No. 1/2018 (Revise) To : President, The Stock Exchange of Thailand

Ref. No. IVL 007/05/2018 May 10, 2018 The President The Stock Exchange of Thailand Subject: Submission of Annual Audited Financial Statements and the Management Discussion and Analysis of Indorama

Thai economy in the first quarter of 2018 continued to grow from the previous quarter, corresponding with the world economy. The expanding of the exporting industry, tourism industry, and government

2018 continued to grow from the previous quarter, corresponding with the world economy. The expanding of the exporting industry, tourism industry, and government investment are main supports. The

hospitality industry, which directly impacted to DTC’s business and performance in 2Q20. DTC recorded a net loss of THB 453 million in 2Q20, compared to net loss of THB 22 million in 2Q19. The loss was driven