Management Discussion and Analysis For the fourth quarter and year ended December 31, 2019 Bangkok Commercial Asset Management Public Company Limited 99 Surasak Rd, Silom, Bangrak, Bangkok 10500

resulted from rising salesperson and management expenses in order to accommodate the Company’s expansion and the Company has set aside Employee benefit obligations in accordance with severance payment as the

Management Discussion and Analysis for the third quarter ended September 30, 2019 Attention The President The Stock Exchange of Thailand Attachment Report and interim financial statement for the third quarter

Thailand (“SET”) as follows: 1. Approving to propose to the Extraordinary General Meeting of Shareholders No. 1/2019 to consider and approve the Company to purchase the ordinary shares of KPN Academy Company

Placement) will be discounted at the rate of not more than ten percent of the market price. “Market price” means the weighted average price of the Company’s shares on the Stock Exchange of Thailand (the “SET

on the Transaction to the Stock Exchange of Thailand (the “SET”) and send the circular notice to the shareholders of the Company within 21 days from the date that such information has been disclosed to

(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE UNREVIEWED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE THIRD QUARTER ENDED

(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE REVIEWED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE THIRD QUARTER ENDED 30

Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Executive summary The overall global economy was projected to slow down significantly due to the COVID-19

1 | MANAGEMENT DISCUSSION AND ANALYSIS FOR Q2-2020 Management Discussion and Analysis Q2-2020 13 August 2020 KEY EVENT IN Q2-2020 In the 3-month and 6-month period of Q2-2020, UWC reported gross