1 | MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1-2020 Management Discussion and Analysis Q1-2020 14 May 2020 KEY EVENT IN Q1-2020 After UWC announced a corporate and business strategy restructuring in

the Employee Share Ownership Plan (“ESOP”) and the formation of the ESOP Committee is now more than 10 years old. Since the ESOP scheme has not yet been approved by shareholders and no ESOP warrants

-to-equity conversion scheme in according to the resolution approval from the Extra Ordinary Shareholders’ meeting no. 1/2017 on 30th August 2017 by newly issuing ordinary shares of the Company to pay

participate in the supply reduction had to stop fuel pipeline transfers, leading to lower production and export of crude oil; alleviating market pressure from excess supplies. Also, active oil rig counts in the

refineries switching to Light grade crude, especially Chinese refineries, which has also lowered purchase of Heavy grade crude due to OPEC’s production reduction that caused the product’s shortage and price

and partners in each country by cooperatively working on strategic plans to select the right products and marketing strategy for each focused country, such as emerging countries in ASEAN as well as

Microsoft Word - ELCID_Telemax Capital Increase       No. FER 600195 March 23, 2018 Subject : Notification of the capital increase and investment plan of its subsidiary Attention : President, The

wait for clarity from the election. Resulting in investment from the private sector Government slowdown high competition Customers postpone the plan and delay investment. Resulting in the results of

. Nares Ngam-apichon Disposition Stock 20.0019 0.3787 19.6231 17/06/2020 20.0019 0.3787 19.6231   246004322006-1 MACO PLAN B MEDIA PUBLIC COMPANY LIMITED Disposition Stock 19.9557 9.9778 9.9778 14/05/2020

passed its application for rehabilitation process (2) being a company that the Thai court or the Foreign court has approved a rehabilitation (3) being a company that has complied with the plan to resolve