1 1Q20 MD&A Advanced Info Service Plc. Executive Summary Impact from the COVID-19 pandemic The COVID-19 pandemic has affected Thai economy as early on in February, particularly from the contraction

UNOFFICIAL TRANSLATION Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. FORM 56-REIT1 Annual Registration

523,768,667 3.76 6. GS Security Holding Company Limited 520,000,000 4.91 520,000,000 3.73 7. Superior Overseas (Thailand) Co., Ltd. 412,500,000 3.90 412,500,000 2.96 8. Thai NVDR Co., Ltd. 187,951,907 1.78

- Pacific remains at the top with a growth of 8.4 percent following by 6.5 and 6.2 percent in Middle-East and European carriers. (Source: International Air Transport Association) Tourism industry in Thailand

TRANSLATED VERSION Codified up to No. 2 As of June 12, 2015 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. 2 13

TRANSLATED VERSION Codified up to No. 2 As of June 12, 2015 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference

Stock Exchange of Thailand Demeter Corporation Public Company Limited (“DCORP” or the “Company”) would like to submit the reviewed financial statements for second quarter of the year 2019 ended June 30

99 Surasak Rd., Silom, Bangrak, Bangkok 10500 Thailand Tel 0 2267 1900 Website: www.bam.co.th Investor Relations Email: ir@bam.co.th https://www.bam.co.th/ mailto:ir@bam.co.th 2 Bangkok Commercial

Management Discussion and Analysis For the first quarter ended March 31, 2020 Bangkok Commercial Asset Management Public Company Limited 99 Surasak Rd., Silom, Bangrak, Bangkok 10500 Thailand Tel 0

UNOFFICIAL TRANSLATION Codified up to No. 6 As of 12 April 2019 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. 2