recognition not possible. The economics also slowdown dueto the COVID-19 epidemic. Therefore, the main customers, espeacially in the real estate sector, delay launching their new projects. Financial Position As

Public Company Limited and its subsidiaries would like to notify the operating results stated in consolidated financial statements for the year 2019. The details as follows: The Structure of Revenues R&B

project in Q2-2017 and Q2-2016 are similar but the gross margin in Q2-2016 was higher. Therefore, the gross margin of the projects delivered in Q2-2017 is lower than those in Q2-2016. Financial Analysis of

external fronts that may affect exports and tourism, and the recovery of domestic demand was not yet sufficiently broad-based. Meanwhile, financial stability remained sound. In this light, monetary policy

MDA_EN_ FY2019 Management Discussion and Analysis Fiscal year ended February 29, 2020 AEON Thana Sinsap (Thailand) Public Company Limited (“the Company”) has already submitted the audited financial

impact from currency translation and the adoption of TFRS 9 Financial Instruments. The decrease in retained earnings of THB 1,026 million accounted for the 2019 interim dividend approved by the Board of

temporary suspended. Private consumption contracted as a result of weakening purchasing power and high household debt. Government have implemented financial relief measure to help those affected by the COVID

No. ED-MD2020-0008 March 12, 2020 Subject: Announcement of schedule AGM for the year 2020 omission of dividend for year 2019, capital increase by Rights Offering through issuing UREKA-W2 , and

1 Ref: AC.008/2020 25 February 2020 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

1 Ref: AC.024/2019 3 August 2019 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating