Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Q3/2019 and 9M/2019 ended 30 September 2019 1. Q3/2019 Highlights Figure 1: Quarterly results  In

of assets acquired x proportion of assets acquired x 100.0 NTA of the Company This cannot be calculated. 2. Net operating profits Net operating profits of assets acquired x proportion of assets

- Translation - 14 August 2019 Subject: Management’s Discussion and Analysis for the Operating Results of the Second Quarter of 2019 Attention: The President of the Stock Exchange of Thailand Exotic

ที่ บช NO. AC.03/2020 14 August 2020 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M.K. Real Estate Development Plc

Earnings per share (Baht) 1.28 0.58 Fuel Cost 8,339.72 8,622.55 Increase (Decrease) % Quarter 3 The operating result according to the consolidated financial statements of the Company and its subsidiaries for

1 (Translation) MD. 083/2019 May 8, 2019 Re: Management Discussion and Analysis For the Operating Results ended March 31, 2019 To: President The Stock Exchange of Thailand Management Discussion and

company and its subsidiaries (which has been terminated their operations). 2020 is the year that bring massive change of UWC as a consequence of the corporate and business strategy restructuring together

1,465.28 -20.76% (212.59) (127.81) 46.99 -180.42% Selling and Administrative Expenses 88.19 102.45 102.45 -13.93% (300.77) (230.27) (55.46) 127.12% Non-operating income/expense 303.87 249.95 243.49 22.14

Q1/2017 due to the declining in raw water sales volume) and Net profit attributable to Equity holders of the parent company was 302.67 million Baht, decreased by 61.26 million Baht or 16.83% compared

was higher than those of Q2–2019. As a result, the change rate in total operating expenses was similar to the change rate in total revenue. In terms of the profit of the Company for Q2–2020, it had a