income 47.97 100.00 79.46 100.00 (39.63) Costs 18.79 39.17 42.14 53.03 (55.41) Administrative expenses, finance costs and share of loss from associates 37.52 78.22 29.56 37.20 26.93 Management benefit

, professional fees in relation to M&A activity, sales & marketing expenses for the launch of new residential projects, write-off/impairment of asset, one-time income/expense, etc. Page 3 of 7 Management

SAAM Energy Development Public Company Limited - 1 - 6 November 2020 Subject: Management Discussion and Analysis for the period ended 30 September 2020 To: The President The Stock Exchange of

of the Office of the Securities and Exchange Commission No. OrKhor./Nor. 5/2549 Re: Guidelines Relating to Operating Systems of Fund Management Business In order for a management company to comply

of the Securities and Exchange Commission No. OrKhor./Nor. 5/2549 Re: Guidelines Relating to Operating Systems of Fund Management Business In order for a management company to comply effectively with

units responsible for the internal audit. - Review the risk assessment and risk management systems to oversee that they are appropriate, adequate and efficient. - Review business operating procedures to

in order to oversee a juristic person or business over which one has the management power or operates under one’s supervision. The acts of the three persons stated above constitutes a failure to

work experience in the management level that is beneficial to management of securities business, or work experience as an academic expert or professional in accounting, finance, business administration

appropriateness of the existing one), the companies should provide the explanations and solutions from such findings. 1 COSO is a joint committee of 5 professional associations including the American Institute of

a subsidiary company, which registered as a juristic person in Thailand under the Civil and Commercial Code on August 29, 2017. The subsidiary operates in real estate development and asset management