No: AH 02112024 November 12th, 2024 Subject: Management Discussion & Analysis (MD&A) for the Financial Statements of the 3rd Quarter of Fiscal Year 2024 Ended as of September 30th, 2024 To: The

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

Management Holding Limited (“ASMH”). ASMH is a holding company investing in various businesses, owned by a group of persons, consisting of three members, namely Mr. Kin Chan, Ms. Angie Yick Yee Li and Mr. V

effective revenue generation through new shopping malls, enhancement of existing malls, new mixed-use development projects, such as residential development, as well as efficient cost management. CPN currently

one year from the date of effectiveness of the registration statement shall be entitled to claim damages from the securities offeror or the securities owners pursuant to section 82 of the Securities and

in personnel management and investment in the company very well as individual or / or institutional investors. according to the announcement of the related transaction, in the event that investors

requirements: (a) having been licensed to undertake securities business in the category of mutual fund management and having commenced such business operation; 10 Amended by the Notification of the Capital

cost management to its businesses. Furthermore, CPN is currently preparing to lease assets to CPN Retail Growth Leasehold REIT (CPNREIT) with 4 additional assets, as well as the extension of lease at

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