V3 22/02/62 14:27 น. 0 V3 22/02/62 14:27 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2018 In 2018 the Thai economy grew by 4.1 percent, up

Osotspa Public Company Limited Management’s Discussion and Analysis (MD&A) Consolidated Financial Results: Q4’19 and FY2019 26 February 2020 FY2019 Management Discussion & Analysis Page 1/6 Financial

used in business operation 6. Future projects 7. Legal disputes 8. Other important information 2.3 Management and corporate governance 9. Information on securities and shareholders 10. Management

V2 27/08/63 0 V2 27/08/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in the Second Quarter of 2020 The Thai economy in the second quarter of 2020

appraised price, the characteristic of benefit procurement, for instance, the structure of rental income, including the significant condition of the benefit procurement agreement or the real estate management

the benefits of the Company and shareholders. For this reason, the Board of Directors’ meeting has reconsidered the investment in S-TREK in order to protect the benefits of the Company and shareholders

of such newly issued ordinary shares on the Stock Exchange of Thailand (“SET”) and any other actions necessary for and related to the allotment of new ordinary shares of the Company in order for the

objectives that CRAs, regulators, rated entities, obligors, underwriters, arrangers, and other market participants should strive toward in order to improve investor protection and the fairness, efficiency and

Operational Control _____________ Clause 4 A securities company shall establish efficient systems for internal control, risk management and prevention of conflicts of interest, and shall have a written code of

Clause 4 A securities company shall establish efficient systems for internal control, risk management and prevention of conflicts of interest, and shall have a written code of conduct approved by the board