1 | MANAGEMENT DISCUSSION AND ANALYSIS 2019 Management Discussion and Analysis 2019 2 March 2020 KEY EVENT IN 2019 In 2019, UWC announced a corporate restructuring, which featured in changing in many

changing in many key management positions and business strategies in order to enhance efficiency and growth. Under new structure, UWC shifted the focus from less competent business such as renewable energy

pandemic has affected Thai economy an early on February 2020, which likely cause a continued changing and dispersed forecast of the GDP growth in the year of 2020 as well as how and when the economic

procure that Kerry shall be the only express delivery partner of the Company to carry out its express delivery services through the Bangkok Mass Transit System (the “BTS Skytrain”), including, but not

the Part) ของกิจการหลกัที่มีสญัญาการบริหารจดัการใน สือ่โฆษณาในรถไฟฟา้ Mass Rapid Transit (“MRT”) และสนามบิน Kuala Lumpur International Airport (“KLIA”) 9. ผลประโยชน์ที่คาดว่าจะเกิดขึน้กับบริษัท 1

3344 Fax. 66 2 654 3323 No. PACE IR2018/010 Date: 28 February 2018 Subject: Explanation of the Operating Results for the year ended 31 December 2017 changing over 20% To: The President The Stock Exchange

transactions concerning the money changing business; outstanding balance of all such accounts in all currencies at the end of each day must not exceed USD 50,000 or its equivalent. 4. Payment in Thai Baht of

(Thailand) Co., Ltd. as follow; Items Before changing par value After changing par value 1. Registered Capital 100,000,000.00 Baht 100,000,000.00 Baht 2. Paid up Capital 100,000,000.00 Baht 100,000,000.00

objection within thirty days from the date of receiving the notice of changing the criteria or fifteen days in case of changing sign or other symbol, the company may change the criteria, sign or symbol used

amount from initial public offering (which is needed to be approved from the shareholder’s Meeting 2018 in order to changing the objectives using budgets ) it is 134.74 Million Baht and working capital in