- Translation - IR62/002 26 February 2019 Re: Management Discussion and Analysis (MD&A) for the year 2018 To: President The Stock Exchange of Thailand Overview and Factors Affecting Future Operating Results In

Summary An overview of the year 2017, the Company had total production increased to 642,975 tons, up by 6.8 percent, while sales rose to 10,527 million baht or 5.1 percent increased, comparing to the

&A) for year 2017 (Revised) 3 Executive Summary An overview of the year 2017, the Company had total production increased to 642,975 tons, up by 6.8 percent, while sales rose to 10,527 million baht or

% 63.0 8.7% 9.4 17.5% Net Profit 6.4 0.9% -17.4 -2.4% -23.8 -371.9% Retail Industry Overview and Overall of the Company‘s Performance During the past 2-3 years, the growth rate of retail sector industry in

The Stock Exchange of Thailand 1. Overview financial performance of E for L Aim Public Company Limited (“EFORL” or “the Company”) and its subsidiaries (collectively as “the Companies”) for Q2/2017

President The Stock Exchange of Thailand 1. Overview financial performance of E for L Aim Public Company Limited (“EFORL” or “the Company”) and its subsidiaries (collectively as “the Companies”) for Q1/2019

[COMPANY NAME] Ref.: EFORL IR 024/2019 August 15, 2019 Subject: Management Discussion and Analysis Quarter 2 Ending 30 June 2019 To President The Stock Exchange of Thailand 1. Overview financial

[COMPANY NAME] Ref.:EFORL020/2018 May 15, 2018 Subject: Management Discussion and Analysis for the first quarter ended 31 March 2018 To President The Stock Exchange of Thailand 1. Overview financial

second quarter ending 30 June 2018, which has already been examined by the Company’s auditor, the results can be summarized as follows: Overview of Performance The performance of the Company and the

of Thailand 1. Overview financial performance of E for L Aim Public Company Limited (“EFORL” or “the Company”) and its subsidiaries (collectively as “the Companies”) for Q2/2018 Financial performances