-1- AIT (VP-SEC) 026E/2020 August 10, 2020 Subject: Management's Discussion and Analysis of Operating Results for Q2-2020 To: The President of The Stock Exchange of Thailand Summary of Operations Q2

mainly from airline business as a consequence of slowly growth of international tourist arrival to Thailand, high competitiveness among airline industry and strengthening of Thai Baht. For this quarter

develop a new strategy in expanding new stores in a small size format with largest convenience store chain in Thailand by selecting locations in a high density of community and nearby educational institutes

mandatory diesel to gradually replace B7 since January 2020. Comparison with 1Q2020, CPO price plummeted, pressured by a high level of CPO stock in Thailand due to high seasonal palm production in this

P.P.C. (THAILAND) COMPANY LIMITED HIGH WAY COMPANY LIMITED HIPRO ELECTRONICS PUBLIC COMPANY LIMIT... HITACHI CHEMICAL STORAGE BATTERY (THAI... HMC POLYMERS COMPANY LIMITED HOLCIM CAPITAL (THAILAND

To President The Stock Exchange of Thailand Central Retail Corporation Public Company Limited (“the Company” or “CRC”) would like to provide Management Discussion and Analysis for the three-month

and Analysis (MD&A) 10 of 10 Thailand, proven record of managing high quality shopping centers, reliable cash flows from contract-based rental and service income, and conservative financial policy. The

Analysis | 2 Executive Summary In 3Q2018, domestic palm oil production has increased as in other countries, in addition, stock of Crude Palm Oil (CPO) both in Thailand and International market has remained

Discussion and Analysis | 2 Executive Summary In quarter 3/2017, palm oil production both in Thailand and International Market continuously remained high after the impact from El Nino has ended. Thailand crude

) was at 17.21 Baht/kg, being less than 2Q/2018 by 3.57 Baht/kg or down 17%, which was the same direction as the soften in Malaysian crude palm oil price (CPO-MPOB) due to high inventory and Thailand