MDA Q3_2019 (Eng ) November 8, 2019 Subject : Interim Management Discussion and Analysis of Q3/2019 Attention : President of The Stock Exchange of Thailand We attach herewith the financial statements

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35% y-y, and the second half of FY2022 increased by 30% y-y and 3% Q-Q. As at August 31, 2022, the Company had total cards as below; Management Discussion and Analysis Number of AEONTS Cards and

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Resorts, which will become subsidiaries of the Company after the purchase of the equity of the Target Company, enter into Hotel Management Agreements with companies in the Seller Group concerning the

effective management. Excluding the non-recurring items, total revenue and net profit decreased by 0.5% and 8.7% respectively compared to the same period in the previous year (YoY) mainly caused by the impact

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