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

leading to Exploration and Production Business to record EBITDA of THB 93 Million (+58% YoY, -30% QoQ). Further, Bangchak has purchased remaining shares of Nido from its minor shareholders, leading to the

(Amendment) and the Bang Pa-in - Pak Kret Expressway Agreement (Amendment), which significantly amended as follows: Expressway Toll revenue sharing EXAT : the Company / the subsidiary Renewal period Remaining

. 66 2 654 3323 Baht to King Power MahaNakhon Co., Ltd. (“KPM”). On the same day, the Company and KPM entered into a Business Procurement Agreement, and KPM committed to pay operating costs of the

Microsoft Word - ACC-LT014_E_MDA-Y2018.docx                         WIIK & HOEGLUND PUBLIC COMPANY LIMITED  90 CW Tower A  T + 66 (2) 6128600 Business ID 0107538000151    35th Floor, Ratchadapisek Rd

Financial Reporting Standard No. 15: Revenue, which is effective in 2019. 2.2 The decrease gross profit margin in the remaining portion came from the decrease of gross profit margin of the certain highly

1 Translation CEN 013-2019 August 14, 2019 Subject Management discussion and analysis for business operation Quarter 2-2019 To The Manager and President The Stock Exchange of Thailand Operating

: Operating Performance Results - Q3/2017 (vs Q3/2016) (Baht – Million) Q3/2017 Q3/2016 Changes YoY (Increase + / Decrease -) Amount % Amount % Amount % Hotels Business Revenues 2,093.9 43.1% 2,096.0 44.4% -2.1

accrued income from creative and marketing communication management service business. o Inventories The Group had managed its remaining inventories well. At the end of 2017, the Company had remaining

acquire the hotel business in Europe and the remaining debt acquired through the EBT of UE. Net loss of the Company during the period was THB 132mn, as opposed to a net profit of THB 27mn in 1Q 2017. The