. On the domestic front, elevated household debt remains a constraint to purchasing power. In the meantime, domestic political situation also warrants monitoring as the government is preparing for an

-2338-3000 Fax: 0-2338-3334 www.nationgroup.com 25 May 2020 Subject : Notification on Resolution of the Board of Directors’ Meeting No. 6/2020, Change of Directors and Directors’ Power, Entering into

Budget Act and drought. Furthermore, domestic spending may be limited due to weakening purchasing power and hefty household debt. Apart from economic woes, businesses face numerous other challenges that

1 25 May 2020 Subject: Notification on Resolution of the Board of Directors’ Meeting No. 5/2020, Change of Directors and Directors’ Power, Entering into Connected Transaction, Entering into

sales revenue of THB 2.02 million, so total revenue increased by THB 7.12 million when compared to the same period of 2018. This was mainly due to the increase of the Company’s projects which are concert

basis. In the first year, the leasing fee shall be Baht 8,400/rai/year or the amount of Baht 11.22 million per year, in which such leasing fee shall be increased for 9% every 3 years. The Company has duty

power of those consumers relying on agricultural income have been affected by the drought and low commodity prices. However, the impact on private consumption is expected to be eased to some extent by

income. The income base has been expanded to include rental property business as it is one way to efficiently manage the Company’s assets while purchasing power is decreasing as well as to reduce risks

establishing and pending promulgation of 2020 capital expenditure and 4) Consumption and investment of private sector was shorten in the meantime household purchasing power weakened from income, unemployment

increase of 2,516 keys YoY. The number of operating leased keys increased by 332 keys due to the EBT of UE (U Sathorn and U Chiang Mai hotels) and the opening of the VHE Leipzig hotel. The number of managed