Page 1 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Executive Summary Bank of Thailand, in late March 2020, slashed its forecast for Thai economy from the

Pte. Ltd. and Symbior Elements Holdings Limited Relationship with the Company: The Seller has no relationship with the Company in a manner as a connected person under the Notification of the Capital

1 At JSP 076/2561 (OOP) July 11, 2018 Subject Notifications of the connected transaction-borrowing from connected person To The President, The Stock Exchange of Thailand The Board of Director’s

1 At JSP 076/2561 (OOP) July 11, 2018 Subject Notifications of the connected transaction-borrowing from connected person (Revise) To The President, The Stock Exchange of Thailand The Board of

is not the connected person of the Company. Please be informed accordingly. Yours sincerely, Mr. Yeap Swee Chuan President & CEO Appendix 1 1 The Board of Directors’ Meeting of Aapico Hitech Public

shareholder in a limited company or public company. Invest in or engage in any commercial venture. Join a joint venture or venture with another person. Or let others join the venture or venture and other

in the Extraordinary General Meeting of Shareholders No. 2/2020 held on 17 June 2020 of Rich Asia Industry Company Limited (“Subsidiary Company”) in order to do legal registration of transferring the

part of remuneration on purchase such ordinary share. 2) Loan payment, which At-Ze borrowed from the Company to pay the director back money it owes to the director as Seller’s connected person in the

held shares and the percentage of the total shares. In this regard, the shareholding of the associated persons and that of the shareholders under the same controlling person is considered the

) Loan payment, which At-Ze borrowed from the Company to pay the director back money it owes to the director as Seller’s connected person in the amount of THB 125 million at the share sale and purchase