V3 27/02/63 0 V3 27/02/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2019 In 2019, the Thai economy grew by 2.4 percent year-on-year, down from

- Translation - Page 1 of 6 CBG 052/2017 14 November 2017 Subject Management discussions and analysis for the 3-month and 9-month periods ending 30 September 2017 To President The Stock Exchange of

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Third Quarter and Nine-Month Period Ended 30 September 2018 1. Q3/2018 Highlights Figure 1

Design Power 10,898 22.1 10,135 21.6 10,872 23.2 EVSBG (Electric Vehicle Solutions) 5,017 10.2 2,897 6.2 2,054 4.4 MPBG (Merchant Power) 7,452 15.1 6,653 14.2 5,985 12.8 FMBG (Fan & Thermal Management

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Fourth Quarter and the Year Ended 31 December 2018 1. Q4/2018 Highlights Figure 1: Quarterly results

Ref. No. IVL 005/11/2019 11 November 2019 The President The Stock Exchange of Thailand Subject: Submission of Quarterly Review of Financial Statements and the Management Discussion and Analysis of

(Translation) NEP-AC 002/2560 9 November 2017 Subject : Management Discussion and Analysis for 3rd Quarter ended 30 September 2017 To : The President The Stock Exchange of Thailand Operating Result

(Translation) NEP-AC 003/2561 8 November 2018 Subject : Management Discussion and Analysis for 3rd Quarter ended 30 September 2018 To : The President The Stock Exchange of Thailand Operating Result

mainly derived from the following reasons:- 1. Management Service (“MS”) had a decrease of gross profit for (3.17) million baht. Main reason was that, in Q3/2018, the company already had a renew contract

MD&A Q3Y2018 (E) - 13.11.18 Ratchabur i Electr icity Generating Holding PCL Management Discussion and Analysis For the Three-month and Nine-month Per iods Ended 30 September , 2018 Management