retroactively not more than 3 business days prior to the first day of the offering of the ordinary shares to specific persons (Private Placement), i.e. the Existing Shareholders. In case that the Board of

Academy will be complete by the first quarter of 2020 under the relevant conditions as follows: 1) The Extraordinary General Meeting of Shareholders No. 1/2019 resolves to approve the Company to enter into

who have to postpone their annual general shareholders’ meeting – and are subsequently unable to appoint an auditor – due to the spread of the novel Coronavirus (Covid-19). In this regard, CMSB

Police (ECD Police) for not allowing some NMG shareholders to attend and exercise their voting rights at the annual general shareholders’ meeting (AGM). Nittimon chaired the AGM on April 29, 2015, did not

ที่บชง Page 1 of 4 Ref. Bor Chor Ngor 0140 /2020 13 May 2020 Subject: Management Discussion and Analysis for the First Quarter ended 31 March 2020 To President The Stock Exchange of Thailand Quality

subsidiaries had total shareholders’ equity of Baht 3,175.08 million increased from as of December 31, 2018 which was Baht 3,140.71 million for Baht 34.37 million or 1.1% from recognized net profit for the first

ที่บชง Page 1 of 4 Ref. Bor Chor Ngor 0154 /2018 10 May 2018 Subject: Management Discussion and Analysis for the First Quarter ended 31 March 2018 To President The Stock Exchange of Thailand Quality

total revenues for the first quarter of 2020 amounted Baht 1,572 million, which was decreased by Baht 105 million or a decrease of 6% compared to the total revenues for the first quarter of 2019 amounting

Baht. Shareholders' equity decreased by 6.69% due to operating losses for the first quarter of 2020, amounting to 28.26 million Baht. - As of 31 March 2020, the company has recognized revenue of 212.56

May 14, 2020 Reference no. RWI /BKK/018/2563 Subject : Management’s Discussion and Analysis of Business Operations of the First Quarter of 2020 To The Director and Manager of the Stock Exchange of