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

working capital from operating activities that have low financial costs to invest in fixed assets (land, buildings and equipment) and repay loans. The Company has various types of credits from several

building and the capitalization of our software as we introduced more features. Cash surplus increased by 23.20 mb or 26.3% due to cash flow generated from operation and good working capital management. (b

, inventory and cash on hand, upon the consolidation of TigerSoft. Cash surplus increased by 48.13mb or 43.2% due to cash flow generated from operations and good working capital management. (b) Total

for the three- month period and nine- month period ended 30 September 2017, which have been reviewed by the company’ s authorized auditor. The company would like to clarify the operating results of the

seasonal billings for year end. Cash surplus increased by 22.73mb or 20.4% due to our cash flow generated from operations and good working capital management. (b) Total Liabilities Total liability as of

working capital management. (b) Total Liabilities Total liability as of March 31, 2020 was 298.88mb, increasing by 123.29mb or 70.2%, m ain ly due to recognition of liabilities under finance lease agreement

cash flow generated from operations and good working capital management. (b) Total Liabilities Total liability as of September 30, 2019 was 168.73mb, increasing by 61.42mb or 57.2% , m ainly due to the

(“the Company”) and its Subsidiary (“the Group”) would like to clarify the change in operating result for the year ended 31 December 2018, which net profit has changed more than 20% from the last year as

Exchange of Thailand CAZ (Thailand) Public Company Limited (“the Company”) and its Subsidiary (“the Group”) would like to clarify the change in operating result for the 1stQuarter ended 31 March 2020, which