-1- Ref. POL. 028/2020 February 25, 2020 Re: Management Discussion & Analysis of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P Syndicate Public

) AAPICO HITECH PUBLIC COMPANY LIMITED Ref No: AH 01032020 March 3, 2020 Subject: Management Discussion & Analysis (MD&A) for the financial statements of fiscal year 2019 ended as of December 31, 2019 To

further business expansion from rapidly growth of demand for loans and comply with the new requirement of D/E ratio issued by Financial Regulatory Department (FRD) in Myanmar. Details of Capital Injection

Holding 26,170,672 8.88 4. Clal Insurance Co Ltd 21,843,114 7.41 5. MORE Asset Management 3,324,052 1.13 6. Psagot Investment House 2,375,541 0.81 7. Merkazit Mutual Funds 1,792,062 0.61 8. WisdomTree

extra income for the organization in order to achieve sustainable growth. The gross income of the Company and subsidiary companies in Q2/2018 is 2,283.40 million THB, increasing 12.02% or 245.10 million

Central Retail Corporation Public Company Limited Page 1 20 February 2020 Re: Management Discussion and Analysis Operating results for the year ended December 31, 2018 To: President The Stock

revenue of 144.20 million Baht, an increase of 0.06 million Baht or 0% compared to quarter 1/2019 and a decrease of 5.21 million Baht or 3% compared to quarter 4/2019. Due to efficient cost management

Rnj, (Translation) MD. 073/2020 May 13 , 2020 Re: Management Discussion and Analysis For the Operating Results ended March 31, 2020 To: President The Stock Exchange of Thailand Management Discussion

No: AH 03052021 May 17, 2021 Subject: Management Discussion & Analysis (MD&A) for the financial statements of the 1st quarter of fiscal year 2021 ended as of March 31, 2021 To: The President The Stock

V2 14/05/62 0 V2 14/05/62 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in the First Quarter of 2019 The Thai economy in the first quarter of 2019