waste controls and effectively manage the raw materials. Please be informed accordingly, Sincerely yours, Mr. Weerachart Lohsiri Managing director

average Total Assets Return on Equity (ROE) = Net Profit to average Total Equity Yours faithfully, Mr. Hiroaki Sano Managing Director 2019 2018 Gross profit margin 23.7% 21.5% Net profit margin 19.3% 15.2

stock of Baht 103 million, and dividend payment of Baht 134 million. Please be informed accordingly. Yours sincerely, Mr. Sompol Tanadumrongsak Managing Director

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

profit margins of all segments, especially for the overseas subsidiaries. Please be informed accordingly. Sincerely Yours, Mr. Pete Rimchala Managing Director

in this period. Please be informed accordingly. Sincerely Yours, - SOMKIAT VONGSAROJANA – (Mr. Somkiat Vongsarojana) Managing Director

issued from exercise of warrants increased by Baht 63 million and dividend paid 122 million baht. Please be informed accordingly. Yours sincerely, -Mr.Sompol Tanadumrongsak Managing Director

decrease was mainly due to a decrease in gross profit margin and an increase in administrative expenses. Please be informed accordingly. Sincerely yours, -Signed- (Ms. Vasana Jantarach) Deputy Managing

Baht 1,541 million and Baht 1,604.2 million, respectively. This is primarily due to the quarterly result. Please be informed accordingly. Yours sincerely, (Mr. Wachira Wudhikulprapan) Managing Director

performance in this period. Please be informed accordingly. Sincerely Yours, - SOMKIAT VONGSAROJANA – (Mr. Somkiat Vongsarojana) Managing Director