1 Ref: AC.008/2020 25 February 2020 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

Management Discussion and Analysis (MD&A) for 2019 Page 1/5 - Translation - J63/002 25 February 2020 Re: Management Discussion and Analysis (MD&A) for 2019 To: President The Stock Exchange of

ที่ บช NO. AC. 004/2017 13 November 2017 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M.K. Real Estate Development

Microsoft Word - MD&A 3Q17 EN November 14, 2017 To President, The Stock Exchange of Thailand Subject Notification on the difference of revenue from sales and net profit YOY by more than 20 percent

Microsoft Word - MD&A FY17 EN (1) February 26, 2018 To President, The Stock Exchange of Thailand Subject Notification on the difference of revenue from sales and net profit YOY by more than 20

-months period ending 31 March 2019 To The President The Stock Exchange of Thailand We, ZEN Corporation Group Public Company Limited (“the Group”), are pleased to provide you our management discussion and

1 Ref: AC.016/2019 4 May 2019 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

Ref. PDI/BK-BS-050/2019 9th August 2019 Re: Management Discussion and Analysis (MD&A) For the three-month and six-month periods ended June 30, 2019 To: President The Stock Exchange of Thailand PDI

1 Ref: AC.024/2019 3 August 2019 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

structure For Year End 2020 % of Total Revenue 2019 % of Total Revenue % Selling and Administrative Expenses 100.00 21.11% 71.39 10.77% 10.34% Total Selling and Administrative Expenses 100.00 21.11% 71.39