Acc.001/2563 February 24, 2020 To: The President The Stock Exchange of Thailand Subject: Management discussion and analysis (MD&A) for the Year 2019 Dear Sir, S. Khonkaen Foods Public Company Limited

on the quality and cost management of goods, so imports from Europe instead of imports from China, resulting in lower costs from the Thai Baht strengthens, compared with the previous year. - Other

may be greater. Such 0.03% of NTA value by the Company as of September 30, 2018, stood at THB 0.15 million, as against 3% of said NTA of THB 15.31 million. Accordingly, said transaction volume warranted

supplementary documents for registration as prescribed by the law governing such category of asset. Clause 3. The securities registrar shall have a service contract with clients available in at least two copies

is a fund that must invests in assets with outstanding environmental or sustainability attributes, issued by the Thai government sector or businesses established under Thai law. On average, at least 80

also advocate for the integration of these principles into business’s strategies and operations. Speaking at the signing ceremony, Mr. Renaud Meyer, Resident Representative of UNDP in Thailand said

Management Discussion & Analysis ( - translation - ) For operating result of 1Q/19, ended 31 March 2019 Raimon Land Public Company Limited | 9 May 2019 1 / 6 Major Events in Q1/19 and April 2019

of consolidated financial position as at 30 June 2017 The analysis of operating result for six months Management service Construction service Solar energy Other income and fixed cost The analysis of

previous trade creditors of the Company. In this regard, on March 15, 2017, the Company received a letter from ACO I to confirm the amount of transferred debt as at February 28, 2017, of USD 226,331,648, or

Company’s ordinary shares decreased and became significantly lower than the market price as at the date of the resolutions of the Meeting of the Board of Directors of the Company No. 13/2018 from Baht 5.99 to