1 Ref FN. 031/2020 Management Discussion and Analysis For operation of the second quarter of year 2020 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

Translation CEN 016-2020 August 14, 2020 Subject Management Discussion and Analysis for business operation of Quarter 2/2020 To The Manager and President The Stock Exchange of Thailand Capital

to Transmission and Telecommunication Tower Business, its pristine core business for more than 50 years. UWC decided to discontinue 2 of its subsidiaries’ operation involving in, Paradise Green Energy

1 Ref FN. 023/2020 Management Discussion and Analysis For operation of the first quarter of year 2020 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

18.18% SAAM Energy Development Public Company Limited - 2 - Revenue Total revenues from operation of SAAM Group consist of (1) revenues from provision of service and rental including the procurement of

20.83% SAAM Energy Development Public Company Limited - 2 - Revenue Total revenues from operation of SAAM Group consist of (1) revenues from provision of service and rental including the procurement of

Company will pay all consideration in cash by using the profit of operation as a source of fund. 3. The Criteria for Determining the Consideration value 3.1 Land Lease Agreement Determining the

1 Ref FN. 047/2019 Management Discussion and Analysis For operation of the third quarter of year 2019 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

the Company’s joint venture affiliated company XYZprinting Inc. in consider to expand its operation. Details are as follow; Joint ventured affiliate company XYZprinting Inc. Proposed Capital Injection

denominator which result in lower gross profit margin. 2) Product mix 3) Portugal operation takes approximately 3-6 months to negotiate the price adjustment with customers. However, Gross profit margin has