1 Ref: AC.006/2019 25 February 2019 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

1 Ref: AC.008/2020 25 February 2020 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

1 Ref: AC.016/2019 4 May 2019 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

1 Ref: AC.024/2019 3 August 2019 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

1 Ref: AC.017/2018 14 May 2018 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

1 Ref: AC.034/2019 4 November 2019 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

Microsoft Word - MD&A Q1Y2019 _E_ - 13.05.19 _Final_ RATCH Group Public Company Limited Management Discussion and Analysis For the 1st Quarter Ended 31 March, 2019 Management Discussion and Analysis

MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020/21 ENDED 30 SEPTEMBER 2020 09 NOV 2020 MASTER AD PUBLIC COMPANY LIMITED 1 13 May 2019 QUARTERLY BUSINESS HIGHLIGHTS – 2Q 2020/21 MACO’s performance was

relation to the conversion of DTCPF into DREIT. Dusit Thani PCL Management Discussion and Analysis 2017 P a g e | 6 • Cash inflow from financing activities of THB 250 million mainly owing to a capital

Page 1 of 11 - Translation - Ref. WINNER 0029/2019 November 14, 2019 Re Management Discussion and Analysis (MD & A) for Q3/2019 period and for the nine-month ended September 30, 2019 To The President