Translation Management Discussion and Analysis for Interim Business Operations Financial Performance for the period ended M arch 31 , 2020 (Unit : M ill ion Baht) 2020 2019 Inc. / (Dec.) % (Re st at

consolidated reviewed the 2 nd quarter financial statements as of August 31, 2020 which were reviewed by Deloitte Touche Tohmatsu Jaiyos Audit Company Limited. The operating performance is summarized as follows

. However, the overall performance of the Company in Q3–2021 showed that the total revenue decreased from Q2–2021 and Q3–2020. Those decreases from Q2–2021 by 572.1 million baht or 27.5% and decrease from Q3

higher sales and ongoing improved efficiency and cost control. (Unit : Million Baht unless otherwise stated) January to September Change 2018 2017 Amount % Change Total Revenues 13,161 12,133 1,028 +8.5

. 018 / 2018 May 9, 2018 Subject Explanation of the operating performance for 3-month period ended March 31, 2018 To Managing Director The Stock Exchange of Thailand Pan Asia Footwear Public Company

) Public Company Limited ( the “Company”) would like to clarify its operation results for the Quarter 1/FY2019 ( ended December 31st, 2018 ) of the Company and its subsidiaries, as follows: Performance

hereby clarifies the changes in the performance as follows: FINANCIAL PERFORMANCE FOR THE YEAR OF 2018 Consolidated Financial Statements 2017 2018 Increase/(Decrease) THB mm THB mm THB mm % Total Revenue/1

-Translation - Ref. APURE 002/2019 February 22, 2019 Subject : Financial Position and Operating Performance of year 2018 Attention : The Director and President of the Stock Exchange of Thailand

February 2020, approving the audited consolidated financial statements for the fiscal year ended on 31 December 2019. The Company would like to report factors that affect the financial performance of the

2017. The MD&A would enable the investors to better understand the Company and its subsidiaries’ 2nd quarter of 2017 reviewed financial statements. An Analysis of Performance * Analysis of Income The