R&B Food Supply Public Company Limited 1 14 August, 2020 Re Management Discussion and Analysis for the 6-month period ended 30 June, 2020 Attn. The President The Stock Exchange of Thailand (SET) R&B

% 2 from 4.0% at the end of 2019 from asset quality management and also partly impacted by the current staging suspension for loans under financial assistance under the Bank of Thailand measures. 1

Attention: President Stock Exchange of Thailand Demeter Corporation Public Company Limited (“DCORP” or the “Company”) would like to submit the reviewed financial statements for first 9 months of the year 2018

were calculated based on The Stock Exchange of Thailand’s formula. MANAGEMENT OUTLOOK This year, VGI celebrates our 20th anniversary unveiling a new vision: “Pioneering Solutions for Tomorrow”. We have

share capital” in statements of financial position as of 30 September 2018.  Financial ratios were calculated based on The Stock Exchange of Thailand’s formula. MANAGEMENT OUTLOOK During the past decade

1 --Translation-- Sor Gor 7/2018 January 19, 2018 Subject: Management Discussion and Analysis for the year ended December 31, 2017 (Unaudited) To: The President The Stock Exchange of Thailand

Stock Exchange of Thailand on October 17, 2019. The Company currently manages 34 shopping malls with the net leasable area (NLA) of approximately 1.8 mn sqm. At the end of 2019 the average occupancy rate

1 --Translation-- Sor Gor 11/2018 February 22, 2018 Subject: Management Discussion and Analysis for the year ended December 31, 2017 (Audited) To: The President The Stock Exchange of Thailand

expenses related to the initial public offering in The Stock Exchange of Thailand (IPO). In 4Q.2019, BAM had reversed an increase in impairment loss on properties on sale of Baht 3.09 million, or 25.49

[COMPANY NAME] Ref.: EFORL IR008/2019 March 7, 2019 Subject: Management Discussion and Analysis Yearly Ending 31 December, 2018 To President The Stock Exchange of Thailand 1. Overview financial