วันที่ 15 ตุลาคม 2545 1 NO. (SUTHA-SET) 021/2019/EN 11 November 2019 Subject: Management Discussion and Analysis of the Company and subsidiary for the period ended 30 September 2019 To: The President

per share of Baht 335.29377 is reasonable since the subscription price is lower than the considered value, in which the Company will receive the expected return. The share premium will be the asset of

. Sources of Funding Internal Working Capital 7. The Board of Directors regarding the transaction. The Board of Directors of WORLD considered and viewed that this transaction is reasonable and beneficial to

share of Baht 49,000.-, amounting to Baht 7,350,000.-. The said transaction is reasonable and carefully considered based on relevant favourable price and conditions. Due to the demand from the buyer to

depend on the location and the use of assets. Consultancy Fee Income, the price is fixed by costing plus with reasonable profit which depends on the difficulty and the scope of service in personnel. 3

opinion that the investment in VWM by UAC Energy is reasonable and will generate benefits to the Company in terms of business expansion, access to a broader market and growth in its total assets, revenues

that the transaction is reasonable and be proposed to the Board of Directors for further approval. Opinion of the Board of Director: The Board of Directors has considered the transaction and has opinion

transaction at the same place as the machinery location. In Bangpoo Industrial Estate is a convenient for transportation, the rental fee is at reasonable level that is in line with the area nearby and it’s

USD/ 20,000,000 shares Mr. Masanori Kosaka*** - 0.04% 6 Opinion of the Audit Committee: The Audit Committee has considered the transactions are reasonable and be proposed to the Board of Directors for

, for the total number of 420,000 shares, at the price per share of Baht 10.11, amounting to Baht 4,246,200. The said transaction is reasonable and carefully considered based on relevant favourable price