1 Ref FN. 023/2020 Management Discussion and Analysis For operation of the first quarter of year 2020 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

ZIGA INNOVATION PUBLIC COMPANY LIMITED 999/9,10,11 MOO 9 NAIKLONGBANGPLAKOD, PHASAMUDJADEE, SAMUDPRAKARN 10290 Tel. 02-816-9315 Fax. 02-816-9315 #444 NO. ZIGA 007/2020 15 May 2020 Subject: Management

MDA_EN_1Q17 Management Discussion and Analysis for the 1 st Quarter 2017 ended May 31, 2017 AEON Thana Sinsap (Thailand) Public Company Limited (“the Company”) has already submitted the consolidated

of the Provincial Electricity Authority, the Construction project to improve the electricity distribution system to underground cables in Sisaket Province of the Provincial Electricity Authority, the

PowerPoint Presentation MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q2/2018 GLOBAL POWER SYNERGY PUBLIC COMPANY LIMITED 0 THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP Management Discussion & Analysis

persons to VAVA under Section 258 of the Securities and Exchange Act will not send any person to be directors and/or management in the Company. 7. Other conditions VAVA agrees not to demand any damages or

procurement of benefit 3. Market overview of the business of procuring benefits from REIT’s assets 4. Risk factors 5. Legal disputes 6. Other relevant information Part 3: REIT Supervision and Management 7

business in the category of investment advisory service; “person with power of management” means a person responsible for a line of work relating to investment advisory service, ranging from the level of the

305.8 (158.5) (34.1%) Gross Profit 318.7 174.8 (143.9) (45.2%) Gross Profit Margin 68.6% 57.2% GPM before adjustment with PPA 69.7% 57.6% Rental and service income from warehouses, distribution centers

1,310.9 (2,307.0) (63.8%) Gross Profit Margin 30.8% 42.6% GPM before adjustment with PPA 45.3% 44.2% 1. Rental and Service Income  Rental and service income from warehouses, distribution centers and