MD&A Q2Y2018 (E) -14.8.61(6.25PM) Ratchabur i Electr icity Generating Holding PCL Management Discussion and Analysis For the Three-month and Six-month Per iods Ended 30 June, 2018 Management

(THIS REPORT DISCUSSES PRINCIPAL CHANGES TO THE UNREVIWED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE FIRST QUARTER ENDED 31

Management Discussion and Analysis For the Annual Operating Results 2018 Ended December 31, 2018 Note: This Management Discussion and Analysis (MD&A) was made to disclose information and the vision

1 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 24 February 2020 No. ZEN 2563-003 Subject Management Discussion and Analysis for

of one of 8 SPPs resulted in the decrease of Normalized Share of Profit by Baht 11.4 million when comparing to 2Q2019. For Utilities business in Thailand, it was impacted mainly by drought situation

handset bundling and pre- to-post migration. Prepaid segment grew robustly, adding 888k underpinned by strong acquisition and government stimulus campaigns as well as improving churn management. Although

in the amount of THB 226 million. 8 | Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 1) Refinery Business Crude Oil Price Situation (Unit

Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 1 | Bangchak Corporation Public Company Limited Management Discussion and Analysis of

Management Company dated 3 August 2009; 2 (4) Notification of the Capital Market Supervisory Board No. TorThor. 7/2551 Re: Rules on Applying for and Permission of Establishing Branch Offices of Derivatives

for and Permission of Establishing Branch Offices of Investment Management Company dated 3 August 2009; 2 (4) Notification of the Capital Market Supervisory Board No. TorThor. 7/2551 Re: Rules on