Management Discussion and Analysis ( - translation - ) For operating result of 2Q19, ended 30 June 2019 Raimon Land Public Company Limited | 14 August 2019 1 / 8 Major Events in 2Q19 and July 2019

Baht. Progress on court’s consideration and legal enforcement of the main debtors 1.1 Media Agency Thai Co., Ltd. is a debtor in the Air Time Management Right Sale Contract. The debtor failed to follow

of THB 10,000,000 to Triple CH according to the conditions in the agreement. Currently, it is on process of seeking for sponsor and the result thereon. At present, the contract period has ended, but

Transfer of Unicorn Enterprises Company Limited to U City (EBT of UE)  EBITDA was THB 387mn, an increase of 774.5% YoY or THB 343mn, largely as a result of the aforementioned reasons above  Reported net

บทรายงานและการวิเคราะห์ของฝ่ายบริหาร Management Discussion and Analysis For the Financial Result of Quarter 2 Year 2020 Ended June 30, 2020 Note: This Management Discussion and Analysis (MD&A) was

offered on broad base. In 2H19, unlimited data pricing re-emerged in prepaid segment and continued into early 2020. As a result of unlimited data plans as well as continued shift of customers from prepaid

Baht 1,314.1 million to Baht 1,386.0 million. The increase of Baht 71.9 million, mainly derived from sales of biomass power plant which increased by Baht 24.5 million as the result from the enhancement

hedging contract of THB 68 million, this led to the total gross refinery margin of THB 2,779 million, within this quarter EBITDA contribution from the Trading business was THB 7 million. As a result, the

(Translation) NEP-AC 001/2018 22 February 2018 Subject : Management Discussion and Analysis for the year ended 31 December 2017 To : The President The Stock Exchange of Thailand Operating Result NEP

138.3 million baht, which was an increase from the 3rd quarter of 2017 at 40.0 percent. The Company’s net profit margin stood at 28.7 percent. An increase of net profit was a result of the Company has