(MD&A) for the year 2019 Attention: The President The Stock Exchange of Thailand The Company wishes to present the Management Discussion & Analysis (MD&A) on the operating and financial status for the

groups such as launching a campaign "Rent before buying" to respond clients who need their own residence but they were not ready for sum of money. 2. Operating Results (Company and Subsidiaries) Total

Company would like to clarify significant changes in the Group’s operating results as follows: 1. Revenues from sales and services for the three-month period ended 31 March 2020 total of Baht 10.53 million

, the Company maintained its leadership position with total market share of 30.5%. - Q2’19 Gross margin improved 400 bps YoY to 35.3%, which brought 1H’19 GM to 35.0% (+330 bps YoY). This was mainly

operating the Nation University business), i.e., disposing ordinary shares of NU of 30,599,999 shares, equivalent to 90 percent of the total NU shares to Chirasak Chiyachantana Ph.D. Asso.Prof. at an

1/3 L-WAVE ENT 19/2019 14 August 2019 Subject : Management’s Discussion and Analysis for the six-month period ending 30 June 2019 operating results that varied more than 20% compared to the same

., BANGKAE, BANGKAE, BANGKOK, THAILAND. 10160 Tel: 02-455-2888 Fax: 02-455-2763 (“TRANSLATION”) TG 195/2560 November 8, 2017 Subject: Clarification of the Operating Result for the significant change Attention

., BANGKAE, BANGKAE, BANGKOK, THAILAND. 10160 Tel: 02-455-2888 Fax: 02-455-2763 (“TRANSLATION”) TG 195/2560 November 8, 2017 Subject: Clarification of the Operating Result for the significant change - Update

70.04 percent of total shares are held by the Company. As the Company has been informed that BCPG Public Company Limited (by a subsidiary of the Company) signed the share purchase agreement on 10 February

Profit 65 74 -12 Total Revenues In the three-month period ended 30 June 2017 and 2016, total revenues of the Company increased from Baht 510 million to Baht 530 million, increased by Baht 20 million or 4