COMPANY LIMITED Management Discussion and Analysis of the Company’s Performance for the nine-month period ended September 30, 2019 During the period, one of the major customers had changed a method of

integrated marketing communications where the Company incurred expense to sponsor marketing activities at a cinema in one of major leading shopping center in Bangkok. The Company administrative expense for the

within one year. On November 21,2019 the company has repaid the loan of 40 million baht by withdrawing the mortgage of 5 plots of land (in the process of withdrawing the mortgage) resulting in an

3.27 million Baht which was one-time expense whereas there was no the expense in this year.  Finance Cost Financial cost increased by 2 million Baht; 1 million Baht from the Company. In the previous

had a resolution of the connected transaction as follows: Date of agreement: Company Date of agreement AEON Financial Service Co., Ltd. (“AFS”) Within March 31, 2018 Agreement period is one year from

”) successfully acquired 70% in Co-mass Company Limited (“COMASS”) through its wholly-owned subsidiary, Eye On Ads Company Limited. COMASS is one of the leading outdoor media company with more than 19 years

. 3.2 Cost of sales and service for the second quarter of 2017 is equal to 100.30% of Sales and service income. This is due to the fact that one of the Company’s affiliated companies, Advance Prefab

of interests) deemed it appropriate to propose to the shareholders’ meeting planned to be held within November 2017 for their consideration and approval of the selling one part of Company Investment

more than one location. In addition, the subsidiary company is being charged with a suitable rental rate compare with the nearby locations which offer rental rate in the range of Baht 154 – 275 per

: Company Date of agreement AEON Credit Service Systems (Philippines) Inc (“AEON Systems”) Agreement period is one year from December 2017 to November 2018 Contractual parties with AEONTS and its subsidiaries