: Currently, the Investor does not have any relationship with the Company, the management, the person having control, or major shareholder of the Company. Nevertheless, after the subscription of capital

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the year ended 31 December 2019 1. Year 2019 Highlights Figure 1: Quarterly results  In Q4/2019, the

13,118 13,155 -1.6 % 0.3 % (Gain) loss on disposals of PPE 14 -8 76 428 % -1,020 % Management benefit expense -40 -29 -31 -23 % 7.4 % Other financial cost -4 -5 -4 5.9 % -17 % EBITDA 22,404 22,884 22,636

9,441 10,159 11% 7.6% 18,247 19,600 7.4% Depreciation & amortization 13,192 13,155 13,136 -0.4% -0.1% 26,562 26,291 -1.0% (Gain) loss on disposals of PPE 11 76 61 459% -20% 25 137 441% Management benefit

development and sustainable growth in the future. While its business partners and business alliance members might be parties with possible conflict of interests, nevertheless, The Board of Directors might find

MANAGEMENT PUBLIC COMPANY LIMITED BANPU: BANPU PUBLIC COMPANY LIMITED BAY: BANK OF AYUDHYA PUBLIC COMPANY LIMITED BBGI: BBGI PUBLIC COMPANY LIMITED BBIK: BLUEBIK GROUP PUBLIC COMPANY LIMITED BBL: BANGKOK BANK

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Fourth Quarter and the Year Ended 31 December 2017 1. Q4/2017 Highlights Figure 1: Quarterly results

and services to have outstanding quality, modern, standard, satisfaction and worth for the money of the consumers. Furthermore, the administration line of Customer Relationship Management is another

in the businesses of service provider and human resources management for all companies in PTT’s Group. (Translation) - Sarn Palung Social Enterprise Co., Ltd. (SPSE), a company established to support

1 Ref. No. IVL 006/11/2017 9 Nov 2017 The President The Stock Exchange of Thailand Subject: Submission of Quarterly Reviewed Financial Statements and the Management Discussion and Analysis of