ที่บชง Page 1 of 4 Ref. Bor Chor Ngor 0140 /2020 13 May 2020 Subject: Management Discussion and Analysis for the First Quarter ended 31 March 2020 To President The Stock Exchange of Thailand Quality

policies of major countries and the Baht’s ongoing appreciation. However, the Thai economy has been supported by the expansion of private consumption, due to an increase in auto sales in the first half of

). All the hotels are located in Germany and Switzerland and are managed under the arcona and Steigenberger brands. 14 June 2019: Acquisition of an Office Building at Noble Ploen Chit. The Company acquired

formerly only managed by Vienna House for EUR 8.9mn (THB 347mn). On 1 March 2018, all economic benefits, risks, obligations, and rights attached to the hotel were transferred to the purchaser, while the

3,458 (766) 14.6% 75.1% (60.5%) 394 2,598 (2,204) Managed 3,768 4,493 (725) 2,514 3,548 (1,034) 11.3% 82.1% (70.8%) 285 2,914 (2,629) Total Operational 11,084 11,707 (623) 2,548 3,071 (523) 11.3% 73.8

DCORP 050/2019 November 12, 2019 Subject: Report on the overall operation for first 9 months of the year 2019 ended September 30, 2019 and the decrease in the overall operation more than 20 percent

Q1’19 market share of 27.9% increased by 290 bps QoQ, leaving 900 bps gap to the 2nd player. - Gross margin improved 270 bps YoY to 34.8% in Q1’19 mainly contributed by the performance of Fitness First

the previous year due to an unfavorable condition of the Company’s traditional trade channel as the Company appointed a large-sized distributor for the channel since the first quarter of 2018 but later

oil and labor costs In the first quarter of 2019 The Company is able to deliver work that has been postponed from the previous year to more customers and recognizes revenue according to the success of

No. CC20180803ELE August 14, 2018 Re: Clarification of the changes in operation performance for the second quarter and the first half ended 30 June 2018 Attn: The President The Stock Exchange of