-Translation- Ref. WINNER 006/2020 February 27, 2020 Subject: Management Discussion and Analysis (MD & A) for the year 2019 (Revised) To: The President The Stock Exchange of Thailand 1. Analysis of

the Sellers and is mainly determined by a methodology for assessing value of shareholders’ equity according to the ability to generate profit and cash flows to the Company in the future (Discounted Cash

Stock Exchange of Thailand Reference: Letter No. OP. 435/ 2019 dated 12 December 2019 on the entering into the Conditional Share Purchase Agreement for the acquisition of a majority shareholding in PT

- 7 * ก! ก UK $Q! 5 # U$*6K ก8KV"*"UK $ก UaV ! 0I>ก045=-:< 07 97 9Q.ก0L ?M H= Technology Equity * 6!aK #3#UUQK www.scbam.com Q.ก0L :76 8 Q.ก0L

4,844.39 8,374.87 9,515.30 Total liabilities 804.07 3,789.45 4,706.43 Total equity 4,040.33 4,585.42 4,808.87 Total revenue 128.86 421.73 180.10 Cost of sale and services 119.55 149.51 126.45 SG&A 87.96

Incorporation Company Limited. (“Buyer”), a subsidiary of the Company, to enter into an agreement for acquisition of assets with Kitchen Plus 999 Co., Ltd. (the “Seller”) whereby Buyer will acquire the franchise

Board of Directors of Company approved this transaction, there was the resolution on Non-proportional capital increase in subsidiary arising from conversion of debt to equity which the highest value is

Deferred Revenue Item Deferred Revenue Item = Deferred revenue from assets monetization to WHABT in 2015 which recognized in the first quarter of 2019 as a result of accounting standard adjustment (TFRS 15

sector contracted sharply due to international travel restrictions. Therefore, the Thai economic recovery would take time to return to pre-pandemic levels. The first nine months was a challenging period

from B7 to B5. However, September 27, 2022, the Energy Regulatory Commission (ERC) No.14/2022 has a resolution for adjusting the proportion of biodiesel mandatory from B5 to B7, effective from October 10