[COMPANY NAME] Ref.: EFORL IR007/2020 March 4, 2020 Subject: Management Discussion and Analysis Yearly Ending 31 December, 2019 To President The Stock Exchange of Thailand 1. Overview financial

Management Discussion and Analysis for the 2nd Quarter 2019 Ended August 31, 2019 AEON Thana Sinsap (Thailand) Public Company Limited (“the Company”) has already submitted the consolidated reviewed

the following factors: 1) gradual relaxation of COVID-19 epidemic control measures and progress in vaccination 2) the impact of outstanding demand from the previous quarter and 3) government policies

MDA_EN_4Q22 Management Discussion and Analysis Fiscal year ended February 28, 2023 AEON Thana Sinsap (Thailand) Public Company Limited (“the Company”) has already submitted the audited financial

Central Retail Corporation Public Company Limited Page 1 20 February 2020 Re: Management Discussion and Analysis Operating results for the three-month and nine-month period ended September 30, 2019

Osotspa Public Company Limited Management’s Discussion and Analysis (MD&A) Consolidated Financial Results: Q4’19 and FY2019 26 February 2020 FY2019 Management Discussion & Analysis Page 1/6 Financial

trust’s features and management; (a) “[name of the trust] is a trust under the Trust for Transactions in Capital Market Act B.E. 2550 (2007) created by this instrument and shall become valid when the

revenue generation through new shopping malls, enhancement of existing malls, as well as efficient cost management. CPN currently manages 32 shopping malls with the net leasable area (NLA) of approximately

V3 22/02/61 10:09 น. 0 V3 22/02/61 10:09 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2017 In 2017, Thailand’s real GDP grew by 3.9 percent, up

March 24, 2019, will affect to demand for products and services in the wholesale business and restaurant business and hotel and accommodation business will increase as significantly and will be the