26 February 2020 Subject : Management Discussion and Analysis for 2019 To : Director and the President, The stock Exchange of Thailand Yggdrazil Group Public Company Limited (“Company”) would like to

. Thus, the details of the Company group can be described as follows: Management Discussion and Analysis, Q2/2019 Page2/4 Summary of Income Statement Unit: Million Q2/2018 Q2/2019 Change % Change 6M/2018

previous year. The net loss was Baht 13.64 million, representing an increase of Baht 17.16 million. Up to 125.81 percent. The causes are as follows. 1. Sales and service income increased from Baht 133.41

stood at 27.8%. An increase of net profit was a result of the Company has higher revenues from collection of purchased accounts receivables. Thus, the details of the Company group can be described as

in general, thus the Company can focus and increase the proportion of production and distribution of Gravure sack packaging. In which the customer group is at the top level It is a product with added

save both direct and indirect costs. Thus, the Company can focus and increase the proportion of production and distribution of Gravure sack packaging. In which the customer group is at the top level It

Change Change (%) Home Product Center Plc. 247 282 (35) (12) LH Financial Group Plc. 132 111 21 19 Quality Houses Leasehold Property Fund 41 46 (5) (11) Quality House Hotel and Residence Freehold and

the manufacturing and most parts of service sectors affecting to the company's order from customers immediately in February - March. However, domestic sales and exports in other countries have not been

businesses : (1) securities brokerage; (2) securities dealing; (3) investment advisory service; (4) securities underwriting; (5) mutual

commercial banks adapting their business models, adjusting their physical branches both in terms of number and type of service, while developing their digital banking channels. In addition, banks have been