MDA_EN_4Q22 Management Discussion and Analysis Fiscal year ended February 28, 2023 AEON Thana Sinsap (Thailand) Public Company Limited (“the Company”) has already submitted the audited financial

slowdown, uncertainty surrounding international trade policies and the Baht’s ongoing appreciation, will continue to pose major downside risks. Consequently, the government has rolled out various fiscal

/a Ranking by Industry Business 4/ Remark - Calculated from adjusted price   - Presented and calculated from the consolidated statement and displayed as cumulative quarterly statement by fiscal year

  - Presented and calculated from the consolidated statement and displayed as cumulative quarterly statement by fiscal year (Company statement will be presented and calculated incase consolidated statement is not

from the consolidated statement and displayed as cumulative quarterly statement by fiscal year (Company statement will be presented and calculated incase consolidated statement is not available.)   - The

. Total revenue from sale of goods in the number of 2,382.38 million Baht was increased by 23.74 million Baht or 1.01% from Q1 of the previous fiscal year. The sale growth rates compared to the Q1 of the

number of 2,429.97 million Baht was increased by 15.58 million Baht or 0.65% from Q2 of the previous fiscal year. The sale growth rates compared to the Q2 of the previous fiscal year are from our 3

goods in the number of 2,371.16 million Baht was increased by 68.34 million Baht or 2.97% from Q3 of the previous fiscal year. The sale growth rates compared to the Q3 of the previous fiscal year are from

2018), all due to the significant changes as follows: 1. Total revenue from sale of goods in the number of 2,427.7 million Baht decreased by 312.8 million Baht or 11.4% from the previous fiscal year. The

Financial Position February 28, 2021 November 30, 2021 (TFRS 9) Change Unit : Million Baht %YoY Accounts Receivable Total Assets Total Borrowing Total Liabilities Total Equities 87,433 87,389 62,710 70,009