Quarter of 2020 To The President The Stock Exchange of Thailand We, ZEN Corporation Group Public Company Limited (“the Group”), are pleased to provide you our management discussion and analysis for the 1st

2nd quarter of 2020 and 6-month period ended 30 June 2020 To The President The Stock Exchange of Thailand We, Zen Corporation Group Public Company Limited (“the Group”), are pleased to provide you our

% 8,937 7,759 -13% Operating profit 9,462 9,613 9,676 2.3% 0.7% 19,278 19,289 0.1% Net foreign exchange gain (loss) 350 -223 -157 -145% -29% -81 -380 372% Other income (expense) 145 117 554 282% 373% 416

3,331 16% Admin and others 3,908 4,046 3,850 -1.5% -4.8% 7,759 7,896 1.8% Operating profit 9,676 9,064 9,184 -5.1% 1.3% 19,289 18,247 -5.4% Net foreign exchange gain (loss) -157 -42 -335 113% 688% -380

August 11, 2022 Subject: Management’s Discussion and Analysis for 2st quarter of 2022 ended as of June 30, 2022 Attention: President The Stock Exchange of Thailand AI Energy Public Company Limited (“the

November 14, 2022 Subject: Management’s Discussion and Analysis for 3rd quarter of 2022 ended as of September 30, 2022 Attention: President The Stock Exchange of Thailand AI Energy Public Company Limited

bearing debt ratio Current portion of interest-bearing debt to the sum of interest-bearing debt ratio Financial institution loan to the sum of debt ratio Specific industry ration and financial ratio to

Ref. No. IVL [002/08/2019] 8 August 2019 The President The Stock Exchange of Thailand Subject: Submission of Quartely Review of Financial Statements and the Management Discussion and Analysis of

IFA Jay Capital Advisory Company Limited SET The Stock Exchange of Thailand SEC The Securities and Exchange Commission Notification of the Acquisition or Disposition Notification of Capital Market

awards we received in this quarter. B Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in the First Quarter of 2019 1 1.2 Banking Industry and