February 20, 2019 Re: Management Discussion and Analysis for full year 2018 To: Director and Manager of the Stock Exchange of Thailand Revenue from sales and rendering of services L&E’s consolidated

showed in the corresponding period last year, or 26.53% increased. The increment was in accordance with company’s expanding strategy and well management in marketing and sales; therefore, company’s

1 - TRANSLATION - KT/PB (Q-Con) 012/2019 May 9, 2019. Attention Managing Director The Stock Exchange of Thailand Subject : Management Discussion and Analysis the first quarter ended 31 March 2019

corresponding period last year, or 45.30% increased. The increment was in accordance with company’s expanding strategy and management; therefore, company’s revenues were able to growth more than overall of

% increased. The increment was in accordance with company’s expanding strategy and well management in marketing and sales; therefore, company’s revenues were able to growth better than overall of the industry

November 7, 2018 Re: Management Discussion and Analysis Q3/2018 To: Director and Manager of the Stock Exchange of Thailand Revenue from sales and rendering of services L&E’s consolidated revenue from

ecosystem that integrates the DA trading system regulated by the SEC with the e-money system regulated by the Bank of Thailand (BOT). The project includes appropriate risk management measures and follows Know

, is  transparent with professionalism in management, causing companies to be better-known and accepted by the public creating incentives for interest in investments from businesses within the country

fund investing in an MRF-eligible Thai or Hong Kong master fund and to clarify how they may be operated in a streamlined manner.“This new cooperation framework signifies a major expansion of our MRF

Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND Tel: 02-0195000 18 February 2019 No. ZEN 2562-002 Subject Management Discussion and Analysis for