Thailand Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the year ended 31 December 2021 of the Company and the

Nongchak-Phanasnikom Rd., Nongeiroon, Banbueng, Chonburi, Thailand 20220 Tel. 038-160707 Fax. 033-047348 www.ndrubber.co.th Unit : million baht Q4/17 Q3/18 Q4/18 Change +/(-) QoQ % YoY % Current Assets

., Nongeiroon, Banbueng, Chonburi, Thailand 20220 Tel. 038-160707 Fax. 033-047348 www.ndrubber.co.th No. NDR003/2019 22 February 2019 Subject: Management Discussion and Analysis (MD&A) Report for the Year 2018

AIT (SVP-SEC) 015E/2016 May 9, 2017 Subject: Management's Discussion and Analysis of Operating Results for Q-2016 To: The President of The Stock Exchange of Thailand Summary of Operations Q1- 2016

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Rd., Nongeiroon, Banbueng, Chonburi, Thailand 20220 Tel. 038-160707 Fax. 033-047348 www.ndrubber.co.th No. NDR013/2018 10 August 2018 Subject: Management Discussion and Analysis (MD&A) Report for the

-Phanasnikom Rd., Nongeiroon, Banbueng, Chonburi, Thailand 20220 Tel. 038-160707 Fax. 033-047348 www.ndrubber.co.th No. NDR013/2018 10 August 2018 Subject: Management Discussion and Analysis (MD&A) Report for

., Nongeiroon, Banbueng, Chonburi, Thailand 20220 Tel. 038-160707 Fax. 033-047348 www.ndrubber.co.th No. NDR007/2019 14 November 2019 Subject: Management Discussion and Analysis (MD&A) Report for Q3/2019

Thailand to have become an official TCFD supporter* since 30 December 2020, which marks another important step to address the global trend of climate change management in the Thai capital market. Starting

of Thailand Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the period ended 30 June 2020 of the Company and the