credit losses from long outstanding receivables in the amount of 1 .3 million baht and no need to record in losses from fair value adjustments of investments -3- Financial Analysis of the Company As of

may be not equal to 35.83 MW. 3 1.2) Key financial highlight Sales and service income, EBITDA, and NNP for 1H’2017 hit record high; EBITDA margin enhanced to 28% 6M'2016 6M'2017 % change million Baht

13 November 2020 Subject Management Discussion and Analysis for the Nine months ended September 30, 2020 To The President The Stock Exchange of Thailand Do Day Dream Public Company Limited (the

(IFA) whose name shall be in the list of financial advisors approved by the Office of the Securities and Exchange Commission (the “SEC Office”), to render opinions to the Company’s shareholders in

Acquisition or Disposition of Assets of the Company to the Stock Exchange of Thailand ("SET"). (2) Appointment of Independent Financial Advisor and (3) The resolutions of the shareholders' meeting must be

and services income, net 1,275,577 1,130,742 144,835 12.8 Gain on financial liabilities designated at fair value through profit or loss, net 459,381 0 459,381 n.a. Gain on trading and foreign exchange

management has continuously monitored ongoing developments and assessed the financial impact in respect of the valuation of assets, provisions and contingent liabilities, and will record the impact when it is

advisory, and the total Business value of PP3 of 12,124 million Baht as the valuation of the 2nd independent financial advisory) which caused the record of loss on impairment of investments. This was due to

date of the application: )a) having a record of being ordered to rectify financial statements by the SEC Office; (b) causing the SEC Office or the Exchange to issue a warning to the investors or

Acc. 005/2020 August 10, 2020 To: The President The Stock Exchange of Thailand Subject: Management discussion and analysis (MD&A) for Quarter 2/2020 Dear Sir, S. Khonkaen Foods Public Company Limited