-9320 1 Ref: PCL 2020/011 May 11, 2020 Subject: Management Discussion and Analysis for the 3-month period ended 31 March 2020 To: The President of the Stock Exchange of Thailand Panjawattana Plastic

1 No. KK ELCID 2563/003 November 11, 2020 Subject: Management Discussion and Analysis for the third quarter ended September 30, 2020 To: President The Stock Exchange of Thailand K&K Superstore

Page 1 Date 11 November 2020 Re: Management Discussion & Analysis for the 9-months period Ended 30 September 2020 To The President of the Stock Exchange of Thailand (SET) CHAOPRAYAMAHANAKORN PUBLIC

rental (for the source of untreated water https://market.sec.or.th/public/idisc/Download?FILEID=dat/news/202003/20030242.pdf 20052112.pdf channel remains unclear as there are remaining inventory of

In order to leverage the market leading position in Thailand and expand to overseas markets, Osotspa will acquire 60% ownership in Osotspa VTA Joint Stock Company to carry out the trading business of

recognised a provision for inventory obsolescence and written-off the licences for publication from their restructuring of Baht 204.45 million. Conclusion : The Group reported a loss for the six-month period

) Temporary Shutdown Expenses 43.9 15.7 178.3 Allowance for the decline in value of inventory 1.3 1.2 4.4 Selling Expenses 73.1 83.7 (12.7) Administrative Expenses 46.5 32.6 42.5 Finance Costs 4.8 4.7 4.0 Total

year Baht 642. 53 million or 87. 40% due to the continuing high demand of new products launched in Q4/ 2020. Moreover, the Company was able to manage inventory to support customer demand by the high

Analysis  Total Expenses (Million Baht) Quarterly Change 1/2020 1/2019 % Cost of Goods Sold 178.8 257.2 (30.5) Temporary Shutdown Expenses 44.8 43.9 2.3 Allowance for the decline in value of inventory 6.0

used in the operation of the business, (3) to assess the adequacy and appropriateness of the allowance for inventory, and (4) to review and adjust the data used to measure the fair value of biological