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บริษัท เอน็ซีแอล อนิเตอรเ์นช่ันแนล โลจสิตกิส ์จ ำกัด (มหำชน) NCL INTERNATIONAL LOGISTICS PUBLIC COMPANY LIMITED No.NCL-M 13/20 May 13, 2020 Subject: The clarification and analysis of the management

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AIT (SVP-SEC) 015E/2016 May 9, 2017 Subject: Management's Discussion and Analysis of Operating Results for Q-2016 To: The President of The Stock Exchange of Thailand Summary of Operations Q1- 2016

. Shareholders’ Equity (Time) 0.5 0.5 Financial Ratio Analysis The Company has the gross profits increased from 44. 7 percent in 2016 to 45. 3 percent in 2017 mainly due to the better manufacture cost control

administration expenses comparing to the same period of the previous year in the amount of THB 88 million (equivalent to 3.0 percent). A main reason was the increase of the staff cost resulting from the increase

Ref. No. IVL 004/02/2020 26 February 2020 The President The Stock Exchange of Thailand Subject: Submission of Annual Audited Financial Statements and the Management Discussion and Analysis of

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