page1 from 5 9 May 2019 Subject : Management Discussion and Analysis For the first quarter of 2019 ended March 31, 2019 To : The President The Stock Exchange of Thailand WICE Logistics Public Company

existing shares, equivalent to 23 percent of the total shares of Kerry (the “Sale Shares”), from the three existing shareholders, i.e. (1) KLN Logistics (Thailand) Limited, (2) Gather Excellence Limited, and

Asset Acquisition WICE Logistics Public Company Limited (WICE) would like to announce the resolution of the Board of Directors' Meeting No. 2 2020 on February 27, 2020. The Board of Directors has approved

หน้า 1 จาก 4 February 27, 2020 Subject Management Discussion and Analysis for the year 2019 ending December 31,2019 To : The President The Stock Exchange of Thailand WICE Logistics Public Company

is under the expectation after the announcement of biodiesel blending mandatory changed from B7 to B10. However, the average biodiesel selling price is significantly increased, which tracked the Crude

second quarter of 2017 was at 43.7% for the utilities business which decreased from 44.5% last year, from decrease in one-time excessive charge, notwithstanding the increase in volume and selling price

Group Public Company Limited (“Thanasiri Group”), which equals to 51% of total registered and paid up ordinary shares of Takuni Land at price of 110 Baht per share. Total consideration value is 84,150,000

Re: Guidelines for the Book Building and the Determination of Offering Price to Public and Individual (No. 2)

PUBLIC COMPANY LIMITED ETERNAL ENERGY PUBLIC COMPANY LIMITED EUREKA DESIGN PUBLIC COMPANY LIMITED EUROASIA TOTAL LOGISTICS PUBLIC COMPANY LIMITED EVERLAND PUBLIC COMPANY LIMITED EXOTIC FOOD PUBLIC COMPANY

drop in the average selling price. 3. Selling expenses Selling expenses accounted for Baht 82.72 million in the first nine months of 2019, mounting by Baht 21.00 million or 34.02% from Baht 61.72 million