Translation CEN 001-2020 March 2, 2020 Subject Management Discussion and Analysis for business operation of year 2019 To The Manager and President The Stock Exchange of Thailand Business operation as

Securities and Exchange Commission Notification of the Office of Securities and Exchange Commission No. SorThor. 55/2546 Re: Report Forms of Securities Companies _____________ By virtue of Section 109 of the

, Thailand cannot undertake any responsibility for its accuracy, nor be held liable for any loss of damages arising from or related to its use. The Office of the Securities and Exchange Commission Notification

. The SEC, Thailand cannot undertake any responsibility for its accuracy, nor be held liable for any loss or damages arising from or related to its use. PAGE (Translation) 2 The Securities and Exchange

. The SEC, Thailand cannot undertake any responsibility for its accuracy, nor be held liable for any loss or damages arising from or related to its use. The Securities and Exchange Commission Notification

, Thailand cannot undertake any responsibility for its accuracy, nor be held liable for any loss or damages arising from or related to its use. The Securities and Exchange Commission Notification of the

the Securities and Exchange Commission No. KorThor/Nor/Khor. 4/2548 Re: Qualifications and Other Prohibited Characteristics of Executives of Securities Companies ------------------------ By virtue of

this English translation is strictly for reference. Notification of the Securities and Exchange Commission No. Kor Thor. 66/2547 Re: Maintenance of Financial Position of Licensed Derivative Brokers

reference. Notification of the Securities and Exchange Commission No. Kor Thor. 66/2547 Re: Maintenance of Financial Position of Licensed Derivative Brokers __________________ By virtue of Section 9 and

the Securities and Exchange Act B.E. 2535 (1992), as amended by the Securities and Exchange Act (No. 4) B.E. 2551 (2008) , and Section 114, Section 115, Section 116 and Section 117 of the Securities and