Justification_E_1-61 NO. AC. 002/2018 15 May 2018 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M. K. Real Estate

Justification_E_2-61 NO. AC. 003/2018 14 August 2018 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M. K. Real Estate

ที่ บช NO. AC. 004/2017 13 November 2017 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M.K. Real Estate Development

ที่ บช NO. AC. 01/2019 22 February 2019 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M. K. Real Estate Development

Justification_E_4-62 NO. AC. 01/2020 28 February 2020 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M. K. Real Estate

ที่ กบร No. Kor Bor Ror. 021/2017 August 10, 2017 President The Stock Exchange of Thailand Re : Credit guarantee to Sahapat Real Estate Co., Ltd. on shareholding proportion Ref : Document no. Kor Bor

To : President The Stock Exchange of Thailand M.K. Real Estate Development Public Company Limited (the “Company”), hereby notify that the Board of Directors Meeting of the Company No. 2/2020 held on

residential real estate market, especially condominiums which are popular amongst foreign customers who invest in real estate in Thailand, is also affected. As the company focus on developing projects with

LEASEHOLD REAL ESTATE INVESTMENT TRUST AIM INDUSTRIAL GROWTH FREEHOLD AND LEASEHOLD REAL ESTATE INVESTMENT TRUST AIRA CAPITAL PUBLIC COMPANY LIMITED AIRA FACTORING PUBLIC COMPANY LIMITED AIRPORTS OF THAILAND

of the economy and the real estate market in Thailand, our company may have difficulty in managing NPLs and selling NPAs. 2.2 The company may face competition in sourcing NPLs and NPAs from competitors