Page 1 of 5 - Translation - Ref. WINNER 0018/2019 May 13, 2019 Re Management Discussion and Analysis (MD & A) for Q1/2019 To The President The Stock Exchange of Thailand 1. Analysis of Overall

Public Company Limited (“the Company”) would like to submit the management discussion and analysis of the operating results for the nine months of 2020 ended September 30, 2020 as follows: Overall Group

HomePro Fair at Hat Yai and Khon Kaen. Overall sales are satisfactory. The HomePro business in Malaysia is focused on increasing same store sales, while the company continues to work on improving the

Granary Public Company Limited and its subsidiaries For the Twelfth-month period ended 31st December 2018 1. Overall performance Consolidated financial results of Patum Rice Mill and Granary Public Company

2017. There is a gross loss of 22.78% due to the expected loss estimation from one of the current construction projects. For all other completed projects in 2018 with 10% of gross profit margin still

discontinued while overall data price gradually uplifted. As a result, AIS’s mobile revenue had a strong improvement, growing 5.3% YoY and 4.3% QoQ driven by ARPU increase. The average data usage, currently at

Limited and its subsidiaries For the Three-month period and Nine-month period ended 30th September 2019 1. Overall performance Consolidated financial results of Patum Rice Mill and Granary Public Company

and 2018 were THB 175.92 and 154.89 million respectively. Selling expense had risen by THB 21.03 million or 13.58% due mainly to increase of selling and advertising expenses for the overall projects

International Women’s Day and resonates the importance of gender equality. As a capital market regulator, one of our strategic priorities is to build an environment conducive to supporting listed companies in

three years of investment, with so far one new kiln (K7) in operation since January adding an extra 50,000 Mt of capacity, the additional potential of developing new products, as well as the option to add