owned by PP1, Pace Project Two Co., Ltd. (“PP2”), PP3, and PRE having the total value of not exceeding 183 million Baht. (c) The Company shall receive the Business Procurement compensation for seeking

invest in the Company to support and increase the (Translation) Enclosure 1 3 liquidity of the Company. Such company is a wholly-owned subsidiary of the ultimate parent company, namely Argyle Street

17 +/- 3Q 18 3Q 17 +/- 3Q 18 3Q 17 +/- 3Q 18 3Q 17 +/- Owned 3,794 3,716 78 2,772 2,694 78 70.5% 73.3% (2.8) 1,955 1,974 (19) Operating Leased 1,295 963 332 3,354 3,402 (48) 78.4% 83.4% (5.0) 2,630

. ขอใหรัฐวิสาหกิจ (State-owned Enterprise) โอนทรัพยสินไป ยังทรัสตีได (ภายใตกฎหมายปจจุบัน SOE ไมสามารถโอน ทรัพยสินออกไดไมวากรณใีด ๆ) 4. ขอใหเกณฑการออก Sukuk ครอบคลุมหลายรูปแบบ เชน อิสทินา

shares directly and indirectly owned by SPI 4. Mr. Boonchai Chokwatana 100,000 0.08  Managing Director of Chokwatana Co., Ltd.  Director of SPI  Shareholder in both the company and SCT .../8 - 8 - Name

% of total issued and paid-up shares directly and indirectly owned by SPI 4. Mr. Boonchai Chokwatana 100,000 0.08  Managing Director of Chokwatana Co., Ltd.  Director of SPI  Shareholder in both the

2018 +/- FY 2019 FY 2018 +/- Owned 3,961 3,961 0 2,541 2,788 (247) 68.4% 66.3% 2.1% 1,738 1,850 (112) Leased 3,251 1,295 1,956 3,194 3,430 (236) 73.6% 74.1% (0.5%) 2,352 2,542 (190) Managed 4,537 4,619

Limited (TPN) (EGCO holds a 44.60% ownership interest). The project connects the Thai Petroleum Pipeline Co., Ltd (Thappline) Terminal in Saraburi to TPN's owned terminal with storage capacity of 142

40.89THB/GBP and that in 1H20 was 39.85THB/GBP. Page 6 of 9 Singha Estate Public Company Limited Management Discussion and Analysis 2Q20 Commercial Business As of 30 June 2020, the Company owned 4 commercial

hotels in UK (50% owned) No. of room 3,115 3,115 3,115 Occupancy rate (%) 76% 57% 73% Rev Par (GBP) 52 34 51 Page 5 of 7 ค ำอธิบำยและกำรวิเครำะห์ของฝ่ำยจัดกำร ส ำหรับผลกำรด ำเนินงำนไตรมำสที่ 2 ปี 2562