downturn and normally performs ahead of the general GDP trend. As uncertainties lie ahead, the management focuses on mobilizing operational responses to protect revenue while managing cost to ensure

act as a director, manager or person with power of management of derivatives business operator must be approved by the SEC Office, the SEC Office hereby issues a guideline on application for approval

person with power of management of derivatives business operator must be approved by the SEC Office, the SEC Office hereby issues a guideline on application for approval and approval for appointment of an

person to be or to act as a director, manager or person with power of management of derivatives business operator must be approved by the SEC Office, the SEC Office hereby issues a guideline on application

that the company’s management, especially in financial aspect, which has been recognized and accepted internationally. On 24 May 2019, the company received Asia Responsible Enterprise Award 2019 in the

V3 12/05/63 0 V3 12/05/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in the First Quarter of 2020 The Thai economy in the first quarter of 2020

รัฐบาล (Government Bond) 207 พันธบัตรรัฐวิสาหกิจ (State Owned Enterprise Bond) 209 พันธบัตรธนาคารแหงประเทศไทย (BoT Bond) 210 พันธบัตรหรือตราสารหนี้ที่ FIDF เปนผูออก ผูรับรอง ผูอาวัล ผูค้ําประกัน 211

Page 1 of 5 - Translation - Ref. WINNER 0018/2019 May 13, 2019 Re Management Discussion and Analysis (MD & A) for Q1/2019 To The President The Stock Exchange of Thailand 1. Analysis of Overall

and also 23% of additional manufacturing capacity in higher-margin businesses. The purchase price is based on an enterprise value of USD 2.0 billion and up to USD 76 million in pension obligations. The

Page 1 of 6 - Translation - Ref. WINNER 0024/2019 August 13, 2019 Re Management Discussion and Analysis (MD & A) for Q2/2019 To The President The Stock Exchange of Thailand 1. Analysis of Overall