15 November 2017 Subject: Management Discussion and Analysis for the 9-Month Period Ended September 30, 2017 To: Directors and Managers The Stock Exchange of Thailand Halcyon Technology Public

Acc. 004/2019 August 8, 2019 To: The President The Stock Exchange of Thailand Subject: Management discussion and analysis (MD&A) for Quarter 2/2019 Dear Sir, S. Khonkaen Foods Public Company Limited

)236-835 150/18 Mitraparb Rd. Muang Khon Kaen Thailand 40000 Tel. (043) 333-555 Fax. (043)236-835 Ratchaphruek Hospital No. RPH-SET 11/20178 August 3, 2018 Subject : Management Discussion and Analysis

Acc. 006/2019 November 11, 2019 To: The President The Stock Exchange of Thailand Subject: Management discussion and analysis (MD&A) for Quarter 3/2019 Dear Sir, S. Khonkaen Foods Public Company

which Thailand has comparative advantage. Providing an enabling condition that encourages growth of the said businesses will certainly help them to play the key role in adding value to products and

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of the Company's profits was derived from the growth of its subsidiary's performance in the debt management business and the profits from other businesses of the group. Analysis of Financial Statement

บทรายงานและการวิเคราะห์ของฝ่ายบริหาร Management Discussion and Analysis For the Financial Result of Year 2019 Ended December 31, 2019 Note: This Management Discussion and Analysis (MD&A) was made to

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key management positions and business strategies in order to enhance efficiency and growth. Under new structure, UWC shifted the focus from less competent business such as renewable energy to Steel