1    (Translation) MD. 107/2018 August 8, 2018 Re: Management Discussion and Analysis For the Operating Results ended June 30, 2018 To: President The Stock Exchange of Thailand Management

August, 2020. However, the operating result without consideration of the effect of FX gain (loss) of the Company and subsidiaries showed the profit of THB 2,516.29 million. Management Discussion and

Quarter3/2019 Differentiate Million THB % Million THB % Million THB % Revenues Revenues from sales of real estate 3,224.7 79.9 3,153.6 86.9 ( 71.1 ) (2.2) Revenues from project management 433.7 10.7 358.4

Management Discussion and Analysis For the first quarter ended March 31, 2019 Kiatnakin Bank Public Company Limited Investor Relations Email: investor_relations@kiatnakin.co.th Tel. +66-2495-1366

, recognized the joint venture profit over 141.3 million baht (According to the proportion of holding 51%), and management of expense Including internal work process improvements for greater efficiency. PAGE 8

743.1 million baht. Even though the COVID- 19 pandemic bringing significant disruption to business, The Group still maintains the profit attributable to equity holders of the company amount of 707.1

in water management project of its subsidiary. 7. Income tax expense increased from the quarter 2/2016 in amount of 2.64 million Baht due to the Company had taxable profit for the three month period

from disposals of real estate 862.7 98.3 1,986.7 80.3 1,124.0 130.3 Revenues from project management - - 408.5 16.5 408.5 100.0 Other income 15.2 1.7 78.5 3.2 63.3 416.1 Total Revenues 877.9 100.0

84.3 3,588.4 177.3 Revenues from project management - - 603.7 9.1 603.7 100.0 Gain from transfer of right for land purchase and sale agreements - 312.0 4.7 312.0 100.0 Other Income 30.2 1.5 129.0 1.9

share of profit from investment in associates after the reclassification of the investments, in accordance with (Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and