Veranda Resort Public Company Limited Management Discussion & Analysis Q1/2020 Management Discussion & Analysis Q1/2020 Revenue Structure Hotel 45.3% Property development 46.4% Food and beverage 6.1

257.35 100.00% 353.79 100.00% (96.44) -27.26% Revenue from transmission and telecommunication tower Q1 For Quarter 1 Year 2020 (Million Baht) Revenue structure + (-) 3 | MANAGEMENT DISCUSSION AND ANALYSIS

99.99 percent of the total sold shares held by the Company, is the same-level-subsidiary to NBC and the connected person of the Company. Diagram illustrating shareholding structure of the Company in NBC

Private Placement basis, which shall be informed by the Company in the SET system later on. 9. The Meeting has resolved to propose the Extraordinary General Meeting of Shareholders No. 1/2019 to consider

1 25 May 2020 Subject: Notification on Resolution of the Board of Directors’ Meeting No. 5/2020, Change of Directors and Directors’ Power, Entering into Connected Transaction, Entering into Transaction on Acquisition of Assets and Determination of the 2020 Annual General Meeting of Shareholders To: Director and Manager The Stock Exchange of Thailand Enclosure 1. Information Memorandum on the Acquisition of Assets (Schedule 1) and the Entry into Connected Transaction of Nation Broadcasting Corpor...

System) resource transaction 1. Contract Date: January 1, 2020 - December 31, 2020 2. Partners of Contract: Connected transaction between subsidiary and related person. User : Cal-Comp Electronics and

แหง่ประเทศไทย ตามลาํดบั นอกจากนี 0 บริษัทฯ ได้อนมุตัิรายการทีเกียวโยงกนัในรอบ 6 เดือน ดงันี 0 - เมือวนัที ตลุาคม ; ทีประชมุคณะกรรมการบริษัทครั 0งที ;/ ; ได้มมีติอนมุตั ิAnnual System License Fee สาํหรับ

0งที ;/ ; ได้มมีติอนมุตั ิAnnual System License Fee สาํหรับ ACE Plus System ให้กบั AEON Systems เป็นจํานวน ,o;,^ บาท คิดเป็นร้อยละ 0.02 ของมลูคา่สนิทรัพย์ทีมีตวัตนสทุธิของบริษัทฯ - เมือวนัที มกราคม ทีป

comprising the systems in the following areas at a minimum: (a) system for administering and checking foreign securities to ensure that they are sufficient for the depositary receipts that have been offered

Tank 2. 4 units of NETZSCH Machineries 3. 1 unit of Vacuum Cleaner with Jet Pulse System 4. 1 unit of Air Pump with Suspension Tank and Air Drier Price as Agreement : Total 2,2000,000 Baht Payment : Paid