(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on September 30, 2019 1 Significant events in the third quarter of the year

shrinking of the export sector due to lower demand from overseas trading partners. In addition, this has negatively impacted local economic activity, particularly consumption and investment in the private

expected to severely contract during the outbreak. The export sector has been impacted by declining demand from trading partners and supply chain disruption, while the tourism sector has been impaired by

1 No. ACE-ACC-2/2023 12 May 2023 Subject Management Discussion and Analysis for the period ended 31 March 2023 To President The Stock Exchange of Thailand Absolute Clean Energy Public Company Limited

lockdown in Thailand was lifted and business activities resumed in this quarter. However, economic recovery remained vulnerable as service sector continued to be impacted by the absence of foreign tourists

power was limited following rising energy price and inflation. The increased cost of living put pressure on consumers to spend wisely and reduced costs where required. The economic recovery benefited

power was limited following rising energy price and inflation. The increased cost of living put pressure on consumers to spend wisely and reduced costs where required. The economic recovery benefited

power was limited following rising energy price and inflation. The increased cost of living put pressure on consumers to spend wisely and reduced costs where required. The economic recovery benefited

%) Net Profit (Loss) Margin 1 (%) 14.5% 14.2% (0.3%) 11.3% 13.5% 2.2% Number of After You dessert café branches as of 30 June 43 55 27.9% 43 55 27.9% • After You Public Company Limited (“the Company

Management Discussion and Analysis For the 3rd Quarter 2023 ended November 30, 2023 AEON Thana Sinsap (Thailand) Public Company Limited (“the Company”) has already submitted the consolidated reviewed