income decreased by 2.5%. The main reason was from lower sale volume approx. 5.0% due to the government’s request for cooperation from operators in industrial estates to reduce their water usage by 10.0

-9320 1 Ref: PCL 2019/003 February 20, 2019 Subject: Management Discussion and Analysis Yearly Ended 31 December 2018 To: The President of the Stock Exchange of Thailand Panjawattana Plastic Public

26 February 2019 Subject: Management Discussion and Analysis for the Year Ended December 31, 2018 To: Directors and Managers The Stock Exchange of Thailand Halcyon Technology Public Company Limited

-9320 1 Ref: PLC 2017/017 November 16, 2017 Subject: Management Discussion and Analysis Quarter 3 Ended 30-September-2017 (Additional) To: The President of the Stock Exchange of Thailand Panjawattana

26 February 2018 Subject: Management Discussion and Analysis for the Year Ended December 31, 2017 To: Directors and Managers The Stock Exchange of Thailand Halcyon Technology Public Company Limited

1,656.5 million (2017: Baht 1,524.8 million) which increased by Baht 131.7 million or 8.6% the main reasons were: - Total revenues for the year 2018 were Baht 8,182.7 million which increased from 2017 by

-9320 1 Ref: PLC 2019/009 August 8, 2019 Subject: Management Discussion and Analysis Quarter 2 Ended 30-June-2019 To: The President of the Stock Exchange of Thailand Panjawattana Plastic Public Company

2018 decreased by 17% compared to the same period of 2017. The main reasons is from economic slowdown which affected advertising revenue decreased by 15% and circulation revenues decreased by 26%. 2

15 May 2018 Subject: Management Discussion and Analysis for the 3-Month Period Ended March 31, 2018 To: Directors and Managers The Stock Exchange of Thailand Halcyon Technology Public Company Limited

(0.47) (11.76) Net profit per share (Baht) 0.04 0.03 0.01 Unit : THB'000 2018 2017 The main businesses of the Company and its subsidiaries consisted of: (1) Revenue from sale and service was THB 1,258. 61