. 2. The estimation of welfares for staff of the Company and subsidiary companies increases 32.96 million THB as a result of the new Labor Protection Act announced on 5 April 2019 and enforced 30 days

worth combine above THB 8bn per year, apart from the 2 projects which the Company had announced a joint venture with Tokyo Tatemono, the Company has already prepared to buy new plots of land, in CBD, for

will consider adjusting the fixed deposit interest rate anew to be in accordance with the latest rate for such period, announced by each bank. 4. Total value and methods used to determine the total

eight- year low in March. To soften the blow, the government announced various new fiscal measures, which now total THB 1.5 trillion (8.9% of 2019 GDP) and range from financial support for employees and

to tenants that cannot remain open for business during the shutdown period announced by the government and provide rental discounts of 10-50% to tenants that remained open but are considerably affected

1 | MANAGEMENT DISCUSSION AND ANALYSIS FOR Q1-2020 Management Discussion and Analysis Q1-2020 14 May 2020 KEY EVENT IN Q1-2020 After UWC announced a corporate and business strategy restructuring in

-19) outbreak, the Government commanded lock down policy, shut down business and industries all over the country and announced to public to stay home, this situation resulted in reduction of consumer’s

provided rent waivers to tenants that cannot remain open for business during the lockdown period announced by the government and provide rental discounts to tenants that remained open but are considerably

1 | MANAGEMENT DISCUSSION AND ANALYSIS 2019 Management Discussion and Analysis 2019 2 March 2020 KEY EVENT IN 2019 In 2019, UWC announced a corporate restructuring, which featured in changing in many

1 | MANAGEMENT DISCUSSION AND ANALYSIS 2019 Management Discussion and Analysis 2019 < Translation> 2 March 2020 KEY EVENT IN 2019 In 2019, UWC announced a corporate restructuring, which featured in