Management Discussion & Analysis ( - translation - ) For operating result of 1Q/2020, ended 31 March 2020 Raimon Land Plc. | 14 May 2020 1 / 6 Major Events in Q1/2020 January 1) Begin to adopt the

2017. This was mainly due to the termination of the satellite television co-production agreement before the due date with M.V. Television (Thailand) Co., Ltd. for 16 satellite television channels of

initial paid-up capital in the proportion of investment of 49 percent amounting to Indonesian Rupiah 1,470 million or equivalent to Baht 3.80 million. Riau Combined-Cycle Power Plant Project is located in

the paid-up capital to a total of Baht 28,197,293,670, which the new ordinary shares have started to be traded on the first day on 11 October 2019. On 8 November 2019, the company implemented a plan to

recorded its year-to-date market share in terms of retail sales volume at 15.8%, or at the 2nd rank, and continue to increase the shares. Total marketing sales volume reduced from the intensifying

and paid-up ordinary shares of TBSP. Consequently, the Company has rights or interests in the returns of TBSP and able to use power to direct the activities that has significant effect to the amount of

percent per annum from the first withdrawal date to June 30, 2013 and from July 1, 2013 to June 30, 2018 bearing interest at fixed rate of 5.10 percent per annum. As at June 30, 2015, the Corporate Group

-CP Phase 1 ceased the generators to commission with Phase 2 in preparation to start the Commercial Operation Date (COD) of both phases which also caused the drop in the revenue. The drop in revenue of

the same period in 2016. This was due to the termination of the programmed co-production agreement before the due date at the beginning of 2016 but no revenue recognition from other business, which was

connected persons that transaction is a connected transaction according to the Notification of the Securities and Exchange Commission. The details as follows: 1) Date of entering into the transaction Within