conjunction with Section 33, Section 34, Section 36, Section 41, Section 43, Section 44, Section 45 and Section 64 of the Constitution of the Kingdom of Thailand so permit by virtue of law, as well as Clause 16

Managing Director / The Company Secretary Authorized to sign on behalf of the Company Details of Shareholding Structure and Director NO. Name NCH 2555 Holding Co., Ltd (NCH) Pijittporn Holding Co., Ltd L.P

persons 6. Market overview of the business of procuring benefits from invested real estate 7. Structure and operation of REIT 8. REIT Manager 9. Trustee 10. Fees and expenses collected from REIT 11

support of investment and private spending as well as bolstering opportunities for other economic sectors. Nonetheless, protectionism triggered by the US-China trade dispute dealt a blow to global economic

and international economic situation, political situation, household debts as well as demand-supply imbalance. In Q2/2019, the LTV (Loan to Value) measures are enforced. Business operators thus need to

Veranda Resort Public Company Limited Management Discussion & Analysis Q1/2020 Management Discussion & Analysis Q1/2020 Revenue Structure Hotel 45.3% Property development 46.4% Food and beverage 6.1

mobile top-up decreasing from 95% to 90%. As a result, the revenue structure of the Company is more diversified. The growth of other services such as money transfer has been growing very well. In 2Q17, the

top-up decreasing from 95% to 90%. As a result, the revenue structure of the Company is more diversified. The growth of other services such as money transfer has been growing very well. In 3Q17, the

aims to expand Boonterm kiosk to reach 122,000 kiosks nationwide and the total usage amount of Bt32,000mn. The Company focuses on being the leader of payment solutions by 5 digital retail channels

and offline as well as being responsible for marketing in order to create the brand awareness in the long run. Administrative Expenses: Fixed Cost Control The fourth-quarter administrative expenses was