change of the liabilities was the repayment of long-term loan amounting to 618 MTHB. As at 31 December 2017, the Company and its subsidiaries had no loan outstanding compared to 2016. Analysis of

net profit w ncial cost. T es Income e income fo cond quarte d of 2017 wa million or 28 as Urban S Service Inc urred rental han the sec r 6 month e and Analysis, Discussion a hange of Th lic Compan he

the same period of the previous year. This was because revenues from high gross profit margin increase such as personal loan business. Selling and Administrative Expenses Analysis and Operating Profit

transaction amount is USD 5.80 million paid from Ratch-Lao Services Company Limited’s working capital and loan. Management Discussion and Analysis For the Year Ended December 31, 2018 Page 5 On January 3, 2019

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction

& Analysis (MD&A) Q3/2017 Management Discussion & Analysis (Unit: THB million) Usages of funds: 9M/2017 CAPEX and Fixed assets 2,195 Cash paid for investments in an associate 1,365 Loan to related party 263 24

JAS Asset Management Discussion and Analysis, Q3/2019 Page 1/4 - Translation - No. J62/010 13 November 2019 Subject: Management Discussion and Analysis, 3rd Quarter Ending 30 September 2019 To

Page 1 of 3 GEL.CS.003/2562 28 February 2019 Subject: Management Discussion and Financial Analysis for the operating results as at December 31, 2018 To: Director and Manager The Stock Exchange of