-9320 1 Ref: PLC 2017/017 November 16, 2017 Subject: Management Discussion and Analysis Quarter 3 Ended 30-September-2017 (Additional) To: The President of the Stock Exchange of Thailand Panjawattana

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

management fee and interest income. Administrative Expenses The Company and its subsidiaries had Administrative Expenses of Baht 1,984.82 million, decreased by Baht 146.44 million or 6.87% from last year

of Directors’ meeting approved to dissolve T Asset Management Company Limited., a subsidiary of the Company. The subsidiary registered the dissolution on November 5, 2018 and registered the liquidation

Management Discussion and Analysis for Interim Business Operations 2019 % 2018 % Inc./(Dec.) % Construction Income 150.24 92.91 21.63 87.82 128.61 594.59 Service Income 9.70 6.00 0.41 1.66 9.29

Management Discussion and Analysis for Interim Business Operations 2019 % 2018 % Inc./(Dec.) % Construction Income 44.36 86.52 35.57 96.14 8.79 24.71 Service Income 5.94 11.59 0.00 0.00 5.94 #DIV/0

. The agreement has upon contract extension for the duration with the identical term and condition. The 1 year agreement will be automatically extended unless the objection from either side. Total value

agreement. The agreement has upon contract extension for the duration with the identical term and condition. The 1 year agreement will be automatically extended unless the objection from either side. Total

Baht 41.01 million or 3.28% from the same period of last year because of project management fee and interest income. Share of profit from investments in associated companies The Company and its

Acc. 006/2019 November 11, 2019 To: The President The Stock Exchange of Thailand Subject: Management discussion and analysis (MD&A) for Quarter 3/2019 Dear Sir, S. Khonkaen Foods Public Company