Period (Q1/2019) Attention: Directors and Manager, The Stock Exchange of Thailand N.D. Rubber Public Company Limited (“the Company”) would like to present the MD&A for the Three Month period ended 31 March

Public Company Limited and its subsidiaries, would like to present the Management Discussion and Analysis (MD&A) of Q1/2020 as follows: Management Discussion and Analysis (MD&A) Patum Rice Mill and Granary

) Transaction Value THB 25,500,000 *Not a related parties or transactions Shareholder structure of Vita Food Factory (1989) Company Limited List of Shareholders 1. Mr. Sing Tangcharoenchaichana Current

investment cost (No. 2) debentures are guaranteed by certain the Company’s land with existing and a land of a related party and certain directors of subsidiary, as follows: Date of issuance Maturity date

to grow at 3% YoY from sales recognition of new and some existing products. This was impacted by financial statement adjustment in accordance with new Thai accounting standards. According to the

% Y o Y - 1 7 % Y o Y -10% YoY Page 3  Domestic Contract Manufacturing (CMG) sales increased by c.35% YoY, supported by new products launch, growth from some existing products as well as change of the

future. The new preventive measures will also come with traceability, enhancing the ability to trace back the route of the product. At the current stage, the Company is working on process improvement

amount by which costs of the acquisition of investment exceed identifiable net assets of Trans.Ad Group” of THB 274mn in non-current assets, which was replaced by 1) intangible assets of THB 192mn and

1,181.7 MB respectively. As at 30 June 2019 the Company is current asset in which accounted for 52.4% of the total assets and non-current asset accounted for 47.6% of the total assets. THB MB % THB MB

respectively. The main assets held by the company is current asset in which accounted for 64.3% of the total assets and non-current asset accounted for 35.7%. THB MB % THB MB % Current assets 1,026.4 80.1 783.0