Thailand Absolute Clean Energy Public Company Limited (“the Company”), are pleased to provide you our management discussion and analysis for the year ended 31 December 2019 of the Company and the

strictly for reference. The SEC, Thailand cannot undertake any responsibility for its accuracy, nor be held liable for any loss or damages arising from or related to its use. The Office of the Securities and

-- DRAFT Principles -- (Unofficial Translation) Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. The SEC, Thailand

reference. The SEC, Thailand cannot undertake any responsibility for its accuracy, nor be held liable for any loss or damages arising from or related to its use. The Office of the Securities and Exchange

- Translation - Page 1 of 7 CBG 019/2018 11 May 2018 Subject Management discussions and analysis for the 3-month period ending 31 March 2018 To President The Stock Exchange of Thailand We, Carabao

intense competition in Thailand reflecting falling in revenue from fish feed about 27.52% from lower sales volume of fish feed. However, revenue from shrimp feed rose by 18.41% from 2Q2017 mainly from

3Q2017. The revenue from feed business continued declining due to intense competition in Thailand reflecting falling in revenue from fish feed about 18.42% from lower sales volume of fish feed. However

6 December 2007 Pace Development Corporation Public Company Limited 87/2 CRC Tower, All Seasons Place 45th Fl., Unit 4, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Thailand Tel. +66 2 118 9599

R&B Food Supply Public Company Limited 1 14 August, 2020 Re Management Discussion and Analysis for the 6-month period ended 30 June, 2020 Attn. The President The Stock Exchange of Thailand (SET) R&B

of Thailand 1. Analysis of Operating Results and Financial Position for the Company and its subsidiary 1.1 Analysis of Operating Results for the Company and its subsidiary for the 3-month period ended