1 Translation CEN 012-2020 May 15, 2020 Subject : Management discussion and analysis for business operation Quarter 1-2020 To : The Manager and President The Stock Exchange of Thailand Summarization

shares and not lower than 90 percent of the market price which calculated from the weighted average price of the Company’s shares on the Stock Exchange of Thailand at least for the previous 15 consecutive

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high at 114.02 KBD. Marketing Business was able to increase market share and maintain its 2nd position in the market. Power Plant Business realized additional profit from Solar and Wind Power Plants. As

this regard, “market price” shall mean the weighted average price of the Company’s shares trading on the stock exchange of not fewer seven consecutive business days but not more than fifteen consecutive

entity on the Tel Aviv Stock Exchange (TASE), Israel (the “Transaction”). The Transaction is considered an acquisition of assets in accordance with the Notification of the Capital Market Supervisory Board

, a decrease of 4% YoY, mainly due to financial statement adjustment in accordance with new Thai accounting standards and decline in overall fruit juice market. Export branded sales continued to grow

million, a decrease of 4% YoY, mainly due to financial statement adjustment in accordance with new Thai accounting standards and decline in overall fruit juice market. Export branded sales continued to grow

of the Stock Exchange of Thailand Attachment: Management Discussion and Analysis ended 30 September 2018 As the Golden Lime Public Company Limited (“the Company”) has submitted the Review report on the

Microsoft Word - UPF61MD&A-E.doc ( Translation ) 25th February 2019 Subject: Management Discussion and Analysis (MD&A) for the year ends on 31st December 2018 To: Managing Director of the Stock