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(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the year 2019 1 Significant events in the year 2019 1. The shareholding in Bangkok Metro

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วันที่ 15 ตุลาคม 2545 1 NO. (SUTHA-SET) 015/2020/EN 14 August 2020 Subject: Management Discussion and Analysis of the Company and its subsidiary for period ended 30 June 2020 To: The President of the

THB mm THB mm % Dividend and Management income 471.6 399.6 (72.0) (15.3%) Others 461.3 358.0 (103.3) (22.4%) Total other income 932.9 757.7 (175.2) (18.8%) Other income for 2018 stood at THB 757.7 mm

quarter, adding our Equity MW under operation to 382.1 MW from 319.3 MW in the same period of last year. Other Income Q2 2016 Q2 2017 Increase/(Decrease) THB mm THB mm THB mm % Dividend and Management

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the First Quarter ended 31 March 2019 1. Q1/2019 Highlights Figure 1: Quarterly results  Thai Financial

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1 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 8 August 2019 No. ZEN 2562-021 Subject Management Discussion and Analysis for 2nd