1 / 3 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS  Explanation and analysis of financial performance for the three-month period ended 31 March 2019

. 022 / 2018 August 9, 2018 Subject Explanation of the operating performance for 3-month period ended June 30, 2018 To Managing Director The Stock Exchange of Thailand Pan Asia Footwear Public Company

. 004 / 2021 March 1, 2021 Subject Explanation of the operating performance for the year 2020 To Managing Director The Stock Exchange of Thailand Pan Asia Footwear Public Company Limited would like to

Limited with 100% stake, implying an investment in Porto Worldwide Limited with 33% stake. The objective is to invest in Grab businesses in order to enhance channel for business expansion, assist core

100,000 ordinary shares at Baht 10 each. The capital was fully paid. The Company held 51 percent stake and ALT held 49 percent stake. 1.2 Signing of Financial Documents for Collector Wind Farm in the

89.12% stake in Permata will be finalised on the basis of a 1.77 times of Permata’s book value, as set out in the last financial statements published by Permata prior to the closing of the Transaction

representative in Thailand Information as of XX XX XXXX Name of the ARFP Fund Unit Class SRI Fund Class code Type of mutual fund Risk Level Low 1 2 3 4 5 6 7 8 High Risk Profile Explanation Investment policy and

Fund Unit Class SRI Fund Class code Type of mutual fund Risk Level Low 1 2 3 4 5 6 7 8 High Risk Profile Explanation Investment policy and strategy Calendar year performance and benchmarks over the past

. Assets acquired from this transaction are 80% stake of Phuket Future Development Company Limited. 5. Expected Benefit 1. Supporting the company’s policy to diversify in to Property Business 2. To enable

Q1/2017Q2/2017   Page 2 of 7    The company has established two more subsidiaries: 1) BAFS INTECH Company Limited, with a registered capital of Bt60.0 million. The Company holds a 90% stake. This