............................................................... 9 VIII. INFORMATION ABOUT THE ISSUER ................................................................ 9 IX. OPERATING AND FINANCIAL REVIEW AND PROSPECTS ................................. 11 X

Capital Market Supervisory Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of Securities Companies and Derivatives

Baht 6,242.3 million, as compared to the 2018, Baht 7,637.5 million, decreased Baht 1,395.2 million, due to net loss from operating and dividend payments during the Q3/2018 to the Q2/2019. As of 31

subsidiaries have the total shareholder’s equity valued Baht 7,427.4 million, as compared to the 2018, Baht 8,468.0 million, decreased Baht 1,040.6 million, due to net loss from operating and dividend payment

6,930.8 million, as compared to the 2018, Baht 8,012.8 million, decreased Baht 1,082.0 million, due to net loss from operating and dividend payments during the Q3/2018 to the Q2/2019. As of 30 June 2019

valued Baht 8,468.0 million, as compared to the 2017, Baht 8,591.0 million, decreased Baht 123.0 million, due to net loss from operating. As of 31 March 2018, the company and its subsidiaries have debt to

7,808.4 million, decreased Baht 1,177.6 million, due to net loss from operating and dividend payments during the Q3/2018 to the Q2/2019. As of 30 September 2019, the company and its subsidiaries have debt

million, as compared to the 2019, Baht 7,427.4 million, decreased Baht 1,371.3 million, due to retained losses from operating. As of 31 March 2020, the company and its subsidiaries have debt to equity ratio

million, decreased Baht 909.6 million, due to retained losses from operating. As of 30 June 2020, the company and its subsidiaries have debt to equity ratio is 2.04:1, compared to the 2019 is 1.54:1

the two languages, the Thai version shall prevail. The objective of this MD&A is to present the information and the explanation of financial status and operating results as of the date hereof. However