TACC-003/2020 February 20, 2020 Subject: Management Discussion and Analysis for the year ended December 31, 2018 To: President The Stock Exchange of Thailand T.A.C. Consumer Public Company Limited

getting infection to stop the spread of COVID-19. As a result, people in the area are panicked and hoard the consumer products in stores to prepare for emergency. Causing the revenue from retail of the

the challenges in relation to consumer protection in digital/mobile financial services, one of the most current issues in focus of OECD.Mr. Andre ' Laboul, Chair of the OECD International Network on

because its price was more attractive than synthetic fatty alcohols price due to the decreasing of crude palm kernel oil price. Meanwhile, supply from natural fatty alcohols and synthetic fatty alcohols

supply. Consequently, this resulted in much healthier demand for Natural Fatty Alcohols than quarter 3/2016 as its price decreased to a lower level than that of Synthetic Fatty Alcohols as well as the

B7, which increased from B3, B5 and B7 in previous year. Fatty Alcohols(FA) market in 2017 had improved from previous year, driven by demand for Natural FA since its price could compete to Synthetic FA

around unlimited data plan. AIS had seen weaken mobile revenue due to consumer spending optimization and loss of revenue from traveler segment led to -6.5%YoY decline in mobile service revenue for FY2020

greater customer convenience, speed and reliability with ever- greater consideration of consumer protection and customer privacy. To secure our status as a leading financial institution which can cope with

growth and returns while maintaining our market leadership over the long term. Guided by our core strategies of “Customer Centricity” and making KBank the Customers’ Main Bank for all eight customer

consumer protection and customer privacy, taking into account the changing customer expectations for greater convenience and speediness over omni-channel. Beyond the above strategies, we focus on proactive