1 Ref: AC.031/2017 15 August 2017 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.042/2017 14 November 2017 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

Quarter of 2019 and 6-months period ending 30 June 2019 To The President The Stock Exchange of Thailand We, ZEN Corporation Group Public Company Limited (“the Group”), are pleased to provide you our

- - - Finance costs paid (16) (21) +23% Dividend paid 0 (0) +100% Net Cash flows from (used in) financing activities (78) (75) -5% Exchange differences on translating financial statements (7) (7) +1% Net increase

3rd Quarter of 2019 and 9-months period ending 30 September 2019 To The President The Stock Exchange of Thailand We, ZEN Corporation Group Public Company Limited (“the Group”), are pleased to provide

quarter of 2019 continued to expand driven mainly by domestic demands. Private consumption expanded in all categories supported by the improvement in purchasing power from the rise in farm and non-farm

international HRC prices also impacted the margins with gradual improvement witnessed during the quarter.  The reported quarter thus, resulted in reduced Shipment volume and EBITDA loss and Net Loss of THB 228

Ref. No. IVL 003/08/2020 13 August 2020 The President The Stock Exchange of Thailand Subject: Submission of Quarterly Review of Financial Statements and the Management Discussion and Analysis of

Ref. No. IVL 002/05/2020 12 May 2020 The President The Stock Exchange of Thailand Subject: Submission of Quarterly Review of Financial Statements and the Management Discussion and Analysis of

Construction EVN = Electricity of Vietnam FX = Foreign exchange IPO = Initial public offering IU = Industrial user JV = Joint venture KWh = Kilowatt-hour MWh = Megawatt-hour mmBtu = Million Btu (unit of gas