Dusit Thani PLC Management Discussion and Analysis For 1Q20 P a g e | 1 Executive Summary Due to the COVID-19 pandemic, Thailand and many countries in the world have issued the preventive measures

Limited (“the Company”) would like to submit this Management Discussion and Analysis for the year ended 31 December 2018 with details as follows: Summary overview In 2018, the company had loss for the year

been submitted based on separate financial statements only.) Summary overview From the end of 1st quarter of 2020, the epidemic situation of the coronavirus disease 2019 (COVID-19) has negatively

Analysis have been submitted based on separate financial statements only.) Summary overview From the end of 1st quarter of 2020, the epidemic situation of the coronavirus disease 2019 (COVID-19) has

insurance for properties damaged and business interruption. However, the export sales grew significantly and help overall beverages sales. Food business Despite of overall Thailand economic in this quarter

income increased 3.9 million baht and the gain on sales of investment properties increased 4.2 million baht. (1) Service Income - waste treatment business (Disposal-Landfill and transportation) For Q2/2018

the material information that should be informed. 2 Information in relation to the Company and other relevant information 1. Summary of information in relation to the Company Name : Nation Multimedia

IDH-AC-000-อส6302/30.00 20 February 2020 Re: Management Discussion and Analysis Operating results for the year ended 31 December 2019 To: President The Stock Exchange of Thailand Overview of the

of investment properties resulting from the asset monetization to Hemaraj Leasehold Real Estate Investment Trust (HREIT), totaling rental area of approx. 55,131 sq.m. on 4 January 2018 • Share of

shareholder of SRD, direct holding 27% and indirect holding 13% shares. Transaction type LHMH is employed to be an advisor to manage sales and marketing of SRD’s properties, which are Fashion Island, The