SUBSIDIARY MANAGEMENT DISCUSSION AND ANALYSIS (For the Consolidated Financial Statements of the Year Period Ending December 31, 2018) (1) Overall Operating Results For the year 2018, the total revenue from

Subsidiary (together referred to as “Corporate Group”) would like to clarify on the operating results according to the consolidated financial statements of Year 2017 for the year ended December 31, 2017 as

Products Public Company Limited and its Subsidiary (together referred to as “Corporate Group”) would like to clarify on the operating results according to the consolidated financial statements for the 1st

with bondholder representative, total value of THB 194.0mn, interest rate 5.25% p.a., quarterly payment, 2 years, having maturing date on 4 December 2021.   2) open a new branch of Dink Dink noodle store

Company Limited and its Subsidiary (together referred to as “Corporate Group”) would like to clarify on the operating results according to the consolidated financial statements for the 1st quarter ending

million / Baht 55.25 million = 48.48% 3. Total Value of Consideration = Total Value of Consideration1/ total assets of the Company pursuant to the consolidated financial statements2 = Baht 373.50 million

by the total value of consideration equivalent is 14.57%, calculated by the net tangible assets method according to the consolidated financial statements of the Company as of September 30, 2018 and

&A) Consolidated Financial Results For The Year 2018 For the year ended December 31st, 2018 Consolidated Profit & Loss of NPPG (THAILAND) PCL., Unit : Million Thai Baht (THB) Y 2018 Y 2017 Change %YoY

million baht increase of 20.59 Million Baht or 137.42% comparing to the same period last year, this is caused by followings: Revenues 1. Total sales of 192.34 Million Baht was 23.28 Million Baht or 13.77

herewith the reviewed consolidated financial statements of Lee Feed Mill Public Company Limited and its subsidiaries (“the Company”) for the second quarter ended June 30, 2020, of which the business