sustainability development 13 4. Management discussion and analysis (MD&A) 17 5. General information and other material facts 19 Part 2: Corporate Governance 6. Corporate governance policy 21 7. Corporate

Ref. No. IVL 003/02/2019 26 February 2019 The President The Stock Exchange of Thailand Subject: Submission of Annual Audited Financial Statements and the Management Discussion and Analysis of

บทรายงานและการวิเคราะห์ของฝ่ายบริหาร Management Discussion and Analysis For the Financial Result of Year 2019 Ended December 31, 2019 Note: This Management Discussion and Analysis (MD&A) was made to

Management Discussion and Analysis For the Annual Operating Results 2017 Ended December 31, 2017 Note: This Management Discussion and Analysis (MD&A) was made to disclose information and the vision

Management Discussion and Analysis For six-month period ended June 30, 2020 Bangkok Commercial Asset Management Public Company Limited 99 Surasak Rd., Silom, Bangrak, Bangkok 10500 Thailand Tel: 0

section is intended to be a summary of more detailed discussion contained elsewhere in the registration statement. 2. Provide the disclosure in a separate section titled “Risk Factors” and separate

required, to list the risk factors in the order of their priority to the issuer. The Risk Factors section is intended to be a summary of more detailed discussion contained elsewhere in the registration

) Summary of management’s discussion and analysis: describe only significant items

1 --Translation-- Sor Gor 7/2018 January 19, 2018 Subject: Management Discussion and Analysis for the year ended December 31, 2017 (Unaudited) To: The President The Stock Exchange of Thailand

1 --Translation-- Sor Gor 11/2018 February 22, 2018 Subject: Management Discussion and Analysis for the year ended December 31, 2017 (Audited) To: The President The Stock Exchange of Thailand