decrease in gross profit of VSPP and Others. 71% 26% 3% PAGE 3 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q1 2019 Executive Summary Q1/2019 Significant Events Dividend Payment from GPSC’s Operating Result for

* Note Please find further information in the consolidated financial statements. 1 21 February, 2019 Subject: Management Discussion & Analysis (MD&A) for the year 2018 Attention: The President The

derived from the management service income and the trading income which was recognized for the first time in year 2018. 2018 2017 Change % Change Revenue 1,672.58 1,580.25 92.32 6% Cost 1,509.05 1,335.73

: Management explanation and analysis for three-month period ended 30 September 2019 Attention: The President of, The Stock Exchange of Thailand ZIGA Innovation Public Company Limited ( “the Company” ) would

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* Note Please find further information in the consolidated financial statements. 1 23 February, 2018 Subject: Management Discussion & Analysis (MD&A) for the year 2017 Attention: The President The

efficient cost management such as staff cost and other related cost. Administrative Expenses In year 2017, administrative expenses increased by 12% yoy and 6% yoy in the fourth quarter mainly due to the

Fund Management Joint Stock Company 10,000,000 10.00 10,000,000 10.00 Ha Noi Water Company Limited 9,996,110 10.00 9,996,110 10.00 New Technology Application and Tourism Single Member Company Limited

ที่ FPI Ref. FPI.024/2018 12 November 2018 Subject : Management Discussion & Analysis of Performance Results of Quarter 3/2018 To : Board of Directors and President of The Stock Exchange of Thailand

881 Website: www.aapico.com Management Discussion and Analysis for the 3rd quarter of year 2018 2 Total revenue grew by 3.1% compared to last year, driven by higher sales from both automotive parts and