(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on March 31, 2019 1 Significant events 1. The Extraordinary General Meeting

Board of Directors’ Meeting of Oishi Group Public Company Limited (the Company) No. 5/2018, which was held on August 10, 2018 has approved the entry to the connected transaction of Oishi Trading Company

Results of the Company in Q3/2020 Q3/18 Q3/20 (THB million) YoY Operating Revenue 219 179 (18%) Cost of sales (82) (74) (10%) Gross Profit 137 105 (23%) Other Income 1 2 100% Selling and distribution

33% EBITDA 83 103 24% 306 391 28% Net Profit (Loss) for the Company 36 47 31% 118 178 51% Gross Profit Margin (%) 62.9% 65.0% 2.1% 63.1% 64.8% 1.7% EBITDA Margin1 (%) 30.7% 32.1% 1.3% 32.1% 31.8% (0.3

net increase of Baht 243.51 million due to the company having the collaboration with its key distributors in order to continually expand distribution channels and increase sales promotions. For other

pandemic situation started to relieve and reopened the dine-in areas. As a response to pandemic situation, the Company has reduced selling and distribution expenses by controlling part-time staff expenses

355 (24%) EBITDA 60 58 (3%) 210 172 (18%) Net Profit (Loss) for the Company 17 13 (24%) 55 4 (93%) Gross Profit Margin (%) 61.4% 59.6% (1.8%) 60.9% 57.3% (3.6%) EBITDA Margin1 (%) 28.6% 30.4% 1.8% 27.2

= Translation = Management Discussion and Analysis for Interim Business Operations The Information of Share Capital Registration and Entire Business Transfer The Company registered the change of

SAAM Energy Development Public Company Limited - 1 - 10 May 2019 Subject: Management Discussion and Analysis for the period ended 31 March 2019 To: The President The Stock Exchange of Thailand SAAM

9.54 100.00 (0.11) (1.14) SAAM Energy Development Public Company Limited - 3 - - Cost of sales Cost of sales related to generation and distribution of electricity under SAAM-SP1 mainly includes (1