- Translation - Management Discussion and Analysis for Interim Business Operations Financial Performance for the year ended December 31 , 2017 (Unit : M ill ion Baht) 2017 2016 Inc./(Dec

- Translation - Management Discussion and Analysis for Interim Business Operations Financial Performance for the period ended M arch 31 , 2018 (Unit : M ill ion Baht) 2018 2017 Inc. / (Dec

implemented beginning of 2020. In addition, there was an increase in the number of employees aligning with business expansion which accounted for total amount of 0.97 million baht, increase in doubtful expenses

December 2019 To: Managing Director of the Stock Exchange of Thailand Business Overview In 2019, the impact of trade war between the United States and China, together with the global economic slowdown caused

the actual charge will be subject to the employee’s headcount and actual expense. 7.1.3 Consultant Service transaction 1. Contract Date: January 1, 2019 - December 31, 2019 2. Partners of Contract

for overseas business expansion. Additionally, the Company continued to be adversely affected by news related to manufacturers of substandard products and the closure of the biggest wholesale skincare

capacity (new Kiln 7 started in Hua Pha Way in Q1) and the full effect of Saraburi Quicklime. Similar to Q2 2018, the revenue was primarily from core business without significant contribution from

require 237 million baht in investment in: ownership of land, long term land rental (for the source of untreated water), infrastructure and machines required to carry out the business. To engage in long

The third quarter of 2017/18 (ended 31 December 2017) 1 VGi GLOBAL MEDIA PLC MANAGEMENT DISCUSSION & ANALYSIS 3Q 2017/18 12 FEB 2018 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Advertising

services income would decrease by 226.32 million Baht or 5.31% due to the declining in raw water sales volume). In 2017, the company was able to control the cost of raw water business effectively, especially