(Decrease) Dec 31, 2018 % Dec 31, 2018 % Dec 31, 2017 % Thousand Baht % Current Assets 670,482 59.2 646,293 57.0 669,961 71.9 521 0.1 Non-Current Assets 485,566 42.8 486,917 43.0 261,621 28.1 223,945 85.6

evenly distributed to the middle and low-income population. At the same time, the government launched a variety of tax and non-tax measures to boost household spending, particularly near the end of the

1 Translation UWC 006/2019 February 26, 2019 Subject : Management Discussion and Analysis for year 2018 To : President of the Stock Exchange of Thailand Ua Withya Public Company Limited ("Company

, 2018 % Dec 31, 2017 % Thousand Baht % Current Assets 670,482 59.2 646,293 57.0 669,961 71.9 521 0.1 Non-Current Assets 485,566 42.8 486,917 43.0 261,621 28.1 223,945 85.6 Total Assets 1,156,048 102.0

, 2018 % Dec 31, 2017 % Thousand Baht % Current Assets 670,482 58.0 646,293 57.0 669,961 71.9 521 0.1 Non-Current Assets 485,566 42.0 486,917 43.0 261,621 28.1 223,945 85.6 Total Assets 1,156,048 100.0

. Additionally, change in fair value of the investment in EDL-Generation Public Company decreased the equity in the amount of Baht 263.33 million. 3.3.3 Non-controlling interests decreased by Baht 13.44 million

Page 1 of 7 Management Discussion and Analysis 2018 Executive Summary The operating result of 2018, Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reached total revenue of

Osotspa Public Company Limited Q4’18 and FY18 Management Discussion & Analysis 27 February 2019 Q4’18 and 2018 Management Discussion & Analysis Page 1/7 Financial Highlights - Q4’18 Net profit* was

Management’s Discussion and Analysis For the period ended 30 September 2017 Bangkok Airways Public Company Limited and Its Subsidiaries 1 ASIA’S BOUTIQUE AIRLINE Bangkok Airways Public Company

1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 30 June 2018 Bangkok Airways Public Company Limited and Its Subsidiaries 2 ASIA’S BOUTIQUE AIRLINE Bangkok Airways