Management Discussion and Analysis (MD&A) for 2019 Page 1/5 - Translation - J63/002 25 February 2020 Re: Management Discussion and Analysis (MD&A) for 2019 To: President The Stock Exchange of

percent To The President of the Stock Exchange of Thailand Management’s Discussion and Analysis Consolidated Financial Results for the three-month and the six-month : Q2/2017 For the three-month ended 30

วันที่ 25 กุมภาพันธ์ 2558 May 13, 2019 Subject: Management’s Explanation and Analysis for the 3 months period ended March 31, 2019 Attention: Director and Manager The Stock Exchange of Thailand LDC

: The President The Stock Exchange of Thailand Takuni Group Public Company Limited (“The Company”) and its subsidiaries (“The Group”) would like to clarify the change in operating result for the period

from the exchange rate of imported solar cells in the solar energy business. This specific transaction occurs once only in 2017. Selling and Administrative expenses Selling expenses decreased by Baht

-1- AIT (VP-SEC) 024E/2018 November 6, 2018 Subject: Management's Discussion and Analysis of Operating Results for Q3–2018 To: The President of The Stock Exchange of Thailand Summary of Operations Q3

วันที่ 25 กุมภาพันธ์ 2558 November 13, 2018 Subject: Management’s Discussion and Analysis for the 9 months period ended September 30, 2018 Attention: Director and Manager The Stock Exchange of

วันที่ 25 กุมภาพันธ์ 2558 February 18, 2020 Subject: Management’s Explanation and Analysis for the year ended December 31, 2019 Attention: Director and Manager The Stock Exchange of Thailand LDC

percent. To : President, The Stock Exchange of Thailand NCL International Logistics Public Company Limited and its subsidiaries (the "Company") would like to clarify the description and analysis of the

วันที่ 25 กุมภาพันธ์ 2558 May 15, 2020 Subject: Management’s Explanation and Analysis for the 3 months period ended March 31, 2020 Attention: Director and Manager The Stock Exchange of Thailand LDC