Management Discussion and Analysis, Q1/2020 Page 1/ 7 Jaymart Public Company Limited - Translation - Ref: IR63/007 15 May 2020 Subject: Management Discussion and Analysis Quarter 1/2020 ended 31

strongly, especially on a same-store basis that continues to grow together with cost effective management. Excluding the non-recurring items, total revenue increased 9.0% YoY and net profit increased 7.4

Shotr-term loan to related - 13.04 Total current assets 46.67 246.57 Property, plant and equipment 819.25 2,699.39   - 12 - Intangible assets 3,580.97 3,580.97 Other non-current assets - 2.08 Total non

portion) 93 83 Long term debt (Non-current portion) 1,083 1,304 Debentures (Non-current portion) 1,806 1,166 Cash & Cash under management 165 209 Cash and cash equivalents 172 210 Current investments and

1 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 24 February 2020 No. ZEN 2563-003 Subject Management Discussion and Analysis for

the Civil Aviation Authority of Thailand. This certificate demonstrates that the Company’s operational management and control systems are in high standards 5and being recognized internationally. 3. The

Alcohol Business Units. Whereas in term of sales volume, Methyl Ester sales volume was increased from the effect of higher government mandate in this quarter, while Fatty Alcohol sales volume was higher

Design Power 10,898 22.1 10,135 21.6 10,872 23.2 EVSBG (Electric Vehicle Solutions) 5,017 10.2 2,897 6.2 2,054 4.4 MPBG (Merchant Power) 7,452 15.1 6,653 14.2 5,985 12.8 FMBG (Fan & Thermal Management

MDA_EN_ FY2019 Management Discussion and Analysis Fiscal year ended February 29, 2020 AEON Thana Sinsap (Thailand) Public Company Limited (“the Company”) has already submitted the audited financial

committee/Renewal for the term of audit committee: Chairman of the audit committee Member of the audit committee As follows: (1) Mrs.Warangkana Kalayanapradit , the appointment/ of which shall take an effect