: Management Discussion and Analysis for the 2nd Quarter ended 30 June 2020 To: The President The Stock Exchange of Thailand Operating results of S 11 Group Public Company Limited (“the Company”) for the 2nd

15, 2020 Subject: Management Discussion and Analysis for the 1st Quarter ended 31 March 2020 To: The President The Stock Exchange of Thailand Operating results of S 11 Group Public Company Limited

: Management Discussion and Analysis for the 3rd Quarter ended 30 September 2020 To: The President The Stock Exchange of Thailand Operating results of S 11 Group Public Company Limited (“the Company”) for the

the management of distribution channel to reduce the cost more. For the administrative expenses to total revenue was approximate when comparing to the last period and could not been decreased since the

with net loss of Baht 4.16 million on Baht 8.93 million revenues over the same period in 2018. The change in loss for the quarterly operating result ended on September 30, 2019 is due to lower revenues

Ref. AU 009/2017 - Translation - 15 May 2017 To: Director and the President The Stock Exchange of Thailand Management Discussion and Analysis for the three-month period ended 31 March 2017 After You

% decrease compared to the same period of 2019. This was mainly due to a decrease in management fees and interest income by Baht 6 million and Baht 5 million, respectively. II Share of profit from investments

profit (loss) total THB 358 million. Central Retail Corporation Public Company Limited Management discussion and analysis /Page 6 Financial summary for the first half of 2020 (1H2020) Six-month period

Translation CEN 022-2017 August 11, 2017 Subject Management Discussion and Analysis for business operation of quarter 2/2017 To The Manager and President The Stock Exchange of Thailand For 3 months

1 Translation CEN 025-2017 November 13, 2017 Subject : Management Discussion and Analysis for business operation of quarter 3/2017 To The Manager and President The Stock Exchange of Thailand For 3