M.D. 042/2020 February 12, 2020 Subject : Disclosure of the information connected transactions (Revised) To : President of the Stock of Exchange of Thailand Kang Yong Electric Public Company Limited

Page 1 of 7 Management Discussion and Analysis 2018 Executive Summary The operating result of 2018, Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reached total revenue of

Company’s subsidiary. (Amendment No.2) Attention : Director and Manager Stock Exchange of Thailand Eastern Printing Public Company Limited ("the Company") would like to inform the resolutions of the Board of

Microsoft Word - SHR MDA YE19_EN 20200226 vf Management’s Discussion and Analysis S Hotels and Resorts Public Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page

Company Limited (“the Company”) would like to submit the management discussion and analysis of the operating results for the first half of 2020 ended June 30, 2020 as follows: Revenue from Software

247.43million, increased from the year2017 the company’s income from energy business was Baht 88.65 million. As the company started to generate revenue from commercial biomass fuel sales in Q2/2018. 1.3 The

Province. Hin Kong Power Company Limited has signed a 25-year Power Purchase Agreement with Electricity Generating Authority of Thailand, with a schedule for commercial operation in 2024 and 2025

. This transaction of the disposition of such shares would be beneficial to both the Company and Planet in making the management more sufficiency and providing business and commercial benefits. This is

84.87 million, increased from Q1/2018 the company’s income from energy business was Baht 11.07 million. As the subsidiary company started to generate revenue from commercial biomass fuel sales in Q2/2018

No. IIG 001/2020 31 July 2020 Subject: Management discussion and analysis for the first quarter of 2020 Attn: Governors and President Market for Alternative Investment (mai) I&I Group Public Company