BS09/2545 (Translation) No.18/2019 July 5, 2019 President The Stock Exchange of Thailand Re: Notification of the Resolution of the Board of Directors’ Meeting No. 8/2019 We, AEON Thana Sinsap

1 --Translation-- Sor Gor 7/2018 January 19, 2018 Subject: Management Discussion and Analysis for the year ended December 31, 2017 (Unaudited) To: The President The Stock Exchange of Thailand

1 --Translation-- Sor Gor 11/2018 February 22, 2018 Subject: Management Discussion and Analysis for the year ended December 31, 2017 (Audited) To: The President The Stock Exchange of Thailand

, several commercial banks may continuously set aside high provisions and focus mainly on debt restructuring in order to control loan quality, even though the Bank of Thailand’s leniency in asset

Budget Act and drought. Furthermore, domestic spending may be limited due to weakening purchasing power and hefty household debt. Apart from economic woes, businesses face numerous other challenges that

% or THB 13,902mn from 31 December 2017, mostly from the EBT of UE, which was funded by a capital increase via issuance of preferred shares in the first quarter  Net debt to equity ratio as of 31

seen in both public and private investment. Nonetheless, commercial banks may still adopt a cautious stance in their business operations amid the lingering debt quality problem, which still needs some

); the Fuel Ethanol Business EBITDA is THB 41 million (-29% QoQ). In June 2017, the company has informed the Stock Exchange of Thailand of the changes in shareholing structure of Bio-based Product business

15%, chiefly from the company’s stock management in preparation for the refinery’s turnaround maintenance, under the intensifying competition situation in the industrial market. While in the late of Q1

. 5. General Characteristics of the Transaction Transaction Type: Acquisition or Disposal of Assets of Category 2 as classified following the Notification of the Stock Exchange of Thailand Consideration