the agreement with the investors and has entered into the shareholders agreement with the investors. 2. Parties involved and the relation with the listed company Parties : Wave Entertainment Public

Ref. FN. 023/2018 Management Discussion and Analysis For operation of the first quarter of year 2018 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

. Due to The Group launch 2 pre-sale projects are “The Origin Ram 209 Interchange” and “Park Origin Chula-Samyan” (“The Origin Ram 209 Interchange”, 70% booking on first day and “Park Origin Chula-Samyan

239.3 -319 -57.1% Finance Cost 71.2 111.9 40.7 57.1% 134.7 210.9 76 56.6% Tax Expenses 59.5 19.4 -40.1 -67.4% 62.4 36.6 -26 -41.3% Net Profit attribute to Equity’s Shareholders. 148.1 44.5 -103.6 -69.9

on 15 March 2019, had adopted resolutions to report to the SET as follows: 1. To propose to the Annual General Meeting of Shareholders to consider and approve the allocation of net profit for the year

Subsidiaries 2 ASIA’S BOUTIQUE AIRLINE Bangkok Airways Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the First Quarter of year 2018 ended 31 March 2018 Executive Summary

Bangkok Airways Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the First Quarter of year 2018 ended 31 March 2018 Executive Summary Thai economy in the first quarter of

619 -9% -6% -4% 4% -14% -4% 38% 6% 3,754 5,940 321 1,143 3,359 5,980 489 1,212 -11% 1% 52% 6% Total Revenues 5,664 5,656 5,384 -5% -5% 11,157 11,040 -1% 2 Revenues In the first half of fiscal year 2020

changes of the investment cost as follows: (Unit: THB million) Investment Cost First investment cost1/ Investment cost as approved by shareholders 2/ Revised Cost 3/ 1) Investment cost of Carnival Magic 1.1

% 0.0% Net profit margin 5.2% 4.3% 0.9% 7.4% 7.1% 0.3% Earnings per share (Bath/Share) 0.16 0.13 0.03 24.3 0.22 0.21 0.01 7.8 For the first 9-month period of 2020, the Company and its subsidiary’s profit