Justification_E_2-61 NO. AC. 003/2018 14 August 2018 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M. K. Real Estate

Page 1 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Executive Summary Bank of Thailand, in late March 2020, slashed its forecast for Thai economy from the

ที่ บช NO. AC. 004/2017 13 November 2017 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

percentage) 5. Agreement for the sale of lease rights in Laem Chabang Industrial Estate BPLC1R Thailon Techno Fiber Limited BPLC1R 1 For the entry into of EPC Contracts, each of the Project Companies shall be

follows: I. The operating revenue break down by business segment In the first quarter of 2018, the Company and its subsidiaries’ revenues from sales of real estate decreased while the property rentals

ที่ บช NO. AC. 01/2019 22 February 2019 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

the 3-month period ended 31 March 2018 31 March 2019 Change Millions of THB % Millions of THB % Millions of THB % Revenue from sale of real estate 440.40 97.86% 346.20 87.55% (94.20) (21.39%) Revenue

detail as follows: I. The operating revenue breakdown by business segment In the second quarter of 2019, the Company and its subsidiaries’ revenue from sales of real estate decreased from the same period

from disposals of real estate 862.7 98.3 1,986.7 80.3 1,124.0 130.3 Revenues from project management - - 408.5 16.5 408.5 100.0 Other income 15.2 1.7 78.5 3.2 63.3 416.1 Total Revenues 877.9 100.0

, 2018. The operating results were, Description 1H/2017 1H/2018 Differentiate (Unit: Million THB) Million THB % Million THB % Million THB % Revenue Revenues from sales of real estate 2,024.2 98.5 5,612.6