Management Discussion and Analysis ( - translation - ) For operating result of 3Q19, ended 30 September 2019 Raimon Land Plc. | 14 November 2019 1 / 7 Major Events in 3Q19 July  Issued unsubordinated

1 Translation CEN 012-2020 May 15, 2020 Subject : Management discussion and analysis for business operation Quarter 1-2020 To : The Manager and President The Stock Exchange of Thailand Summarization

Riverside Bangkok and sales of land plot of Santiburi the Residences. Page 3 of 7 Management Discussion and Analysis 1Q2019 Residential projects for sales as at 31 March 2019: Project Project value Sold

concerning healthcare and esthetics business when On February 10, 2018, In addition, the group have adjusted employee and management remuneration as usual every year. Therefore resulting in higher

Shares to Specific Investors (Private Placement) at the Offering Price with a Discount of not more than ten percent of the Market Price 2. Capital Increase Report Form (F53-4) 3. Information Memorandum on

No. IIG 003/2020 11 November 2020 Subject: Management discussion and analysis for the 9 months ended September 30, 2020 Attn: Governors and President Market for Alternative Investment (MAI) I&I Group

representing a decrease rate of 36.9%, a result of the global outbreak of the COVID – 19 In addition, Revenue from management service also decreased at the rate of 26.1%. • Revenue from sales of food and

AD collateral at 35.67% for cold-rolled galvanized steel products (GI Products) from China effective from 3rd August, 2020 with certain exceptions. Management Discussion and Analysis Quarter 2 Ending

• Explanation and analysis of financial performance for the six-month period ended 30 June 2020 • Explanation and analysis of financial status as at 30 June 2020 Explanation and analysis of financial performance

results As of March 31, 2020, the operating assets under GLAND comprise of; 1.) 3 office buildings (aggregate occupancy rate at 93%), which includes 2 office under management of CPN Retail Growth Leasehold