the period that the Group lost revenue from the temporary branches closure (2) a decrease in bank fees and (3) a decrease of various expenses from cost control measure such as work from home policy to

reduction measure. • Selling expenses to total revenue in Q3/2020 was 27.6% which increased by 0.8% from Q3/2019. This is due to the higher proportion of the decrease in revenue from sales than the decrease

with the pervious quarter. The improvement was due to the easing of lockdown measure and domestic travel restriction, coupling with the implementation of government policies, which resulted in the

expenses reduction measure. • Selling expenses to total revenue in Q4/2020 was 32.4%, increased by 3.0% from Q4/2019. This is due to the higher proportion of the decrease in revenue from sales than the

-1- AIT (VP-SEC) 005E/2022 21 February 2022 Subject: Management's Discussion and Analysis of Operating Results for the year 2020 and Q4-2020 To: The President of the Stock Exchange of Thailand

-1- AIT (VP-SEC) 005E/2022 21 February 2022 Subject: Management's Discussion and Analysis of Operating Results for the year 2021 and Q4-2021 To: The President of the Stock Exchange of Thailand

_____________ Clause 11 An applicant who will obtain approval to be REIT manager shall demonstrate that it has ability to manage the REIT, being assigned by REIT trustee, efficiently and provide measure for

measure for such procedure, if necessary. 5.2 The board of directors and executives set suitable indicators for performance appraisal, incentives and rewards with regard to code of conduct, and the

interrogation to the officer of the SEC Office; (4) where it is apparently impractical in the light of such circumstance; (5) where it is an administrative enforcement measure. The provision under the first

products with another intermediary; (4) having a measure to allow the intermediary to access the information related to the trading of capital market products by the employees and their connected persons