Company and its subsidiaries immediately recorded commission as selling expenses when the transaction occurred. 2) In case of free transfer fee and common area fee (if any) are considered payable to

Company 47.88% of the total paid-up capital of the Company which is a similar shareholding proportion to the shareholding proportion before an execution of the SBL Transaction. Considering no local

1 บริษัท เอ็นซีแอล อินเตอรเ์นช่ันแนล โลจิสติกส ์จ ำกัด (มหำชน) NCL INTERNATIONAL LOGISTICS PUBLIC COMPANY LIMITED No.NCL-M 15/19 August 13, 2019 Subject: The clarification and analysis of the

Million but there was no such transaction in this year. (Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the year 2017 3 Segmental performance 1

of subsidiary company does not have the solid plan shift to the international market, providing to the independent valuer and auditors, this transaction is fully provided. Loss from allowance of

a private placement to CTBC at Baht 2.20 per share. Upon the completion of the transaction, the shares held by CTBC in the company will be equal to that of the aggregate shareholding of Land and

investment which is non-cash transaction. Segmental performance 1. Expressway business The Company had revenue from Expressway business of Baht 2,521 Million, representing an increase from the same quarter of

appointed by the management company as the fund supervisor that such transaction is a trade agreement which a person of ordinary prudence would enter into in the same circumstances, and that the bargaining

(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE REVIEWED AND AUDITED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE SECOND

Securities company Foreign Securities company Big lot (please specify the name(s) of parties executing the transaction with the reporting person (if known)) ( ) Direct sale/purchase (please specify the name(s