(Translation) No. IR/2561/013 19 March 2018 Subject: Sending Information Memorandum of Singha Estate Public Company Limited Re: Entering into Asset Acquisition Transaction To: Shareholders of Singha

other non-current asset held for sale (90.73) - (90.73 ) N/A (41.52%) 0.00% Impairment loss of land held for development (0.75) - (0.75 ) N/A (0.34%) 0.00% (Reverse) Loss from litigation 16.56 (0.61

Petchkasem 29, The LINE Sukhumvit 101, KHUN By Yoo and The LINE Phahon Pradipat, construction is nearly completed and is expected to be ready for transfer in 4Q 2019. As of 30 June 2019, the JVs had 2

will acquire the franchise business of Kitchen Plus restaurant and Baan Krua Thai restaurant (the “Asset Acquisition Agreement”). Following the execution of such Assets Sale and Purchase Agreement, Buyer

asset acquisition and disposal transactions of the listed company that are required to obtain approval from the shareholders; 3. Information regarding the consideration of complaints on wrongdoings on the

Company Limited (“AWN”) entered into an agreement to accept a transfer of the license of 700 MHz spectrum for 5MHz for telecommunications service from National Telecom Public Company Limited (“NT”). The

on Assets (%) 4.78 3.95 6.33 Return on Fixed Assets (%) 36.41 30.95 36.84 Asset Turnover (Times) 1.04 1.11 1.07 FINANCIAL POLICY RATIO Debt to Equity Ratio (Times) 0.26 0.27 0.27 Interest Coverage

enter into agreements with the Trust, including any amendments to the terms and conditions as appropriate. - Negotiate with the Trust to determine the final asset value to be sold to the Trust by

economy. Meanwhile, the Bank of Japan signaled an additional accommodative monetary policy by pledging to purchase government bonds without limit and to step up its asset purchase program, whereas other

Management Discussion and Analysis For six-month period ended June 30, 2020 Bangkok Commercial Asset Management Public Company Limited 99 Surasak Rd., Silom, Bangrak, Bangkok 10500 Thailand Tel: 0