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

% from the previous year, the cost of distribution was 75.48 million Baht, increased by 18.81 million Baht or increased by 33.19% as the company realized higher revenue from the previous year resulting in

of the Provincial Electricity Authority, the Construction project to improve the electricity distribution system to underground cables in Sisaket Province of the Provincial Electricity Authority, the

(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

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

in promotion discounts to stimulate consumption. 6 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 Selling and Distribution Expenses

82.1 1,933 48.8 109 28.1 14 33.9 196 57.7 181 35.7 175 71.2 40 59.5 21 48.1 102 Company B mpany’s net p the second q the second q million baht 2017 equal ncreased at 2 of 2017 stoo last year. An n