1st quarter financial statements as of May 31, 2021 which were reviewed by Deloitte Touche Tohmatsu Jaiyos Audit Company Limited. The operating performance is summarized are as follows. Overview

significantly by 222.5% YoY to THB 1,481mn, predominantly due to the consolidation of the acquired hotel business in Europe (Vienna House), the improving operating performance of our hotels in Thailand and the

resolutions of the Board of Directors’ Meeting No. 9/2018, which was held on November 27, 2018. This was due to the fact that the manufacturing business’ operating results were declining, the percent of

and more complex changes, which tend to emerge faster and become more severe, the Thai capital market remains strong in playing its roles and performs duties with all capacity and robust resources. In

for protecting personal data in line with international principles and obtains international acceptance of trade and business operation, and is able to build a robust society where it is possible to

resilience of the Thai capital market and robust foundation to support sustainable growth.”    The SEC Strategic Plan 2021-2023 maintains the four goals and seven key strategies from the SEC Strategic Plan

factor especially upon institutional investors. Hence, the I Code could be a booster of such market force and a robust ecosystem for corporate governance practices and responsible business operation in the

on evidence collected through cross-country surveys and robust impact assessment of programmes. What we need is ?efficient? financial education. This should involve a large range of relevant public

information, diversifying investment products to serve all investor segments, and developing essential infrastructure. SET is determined to position Thailand’s capital market as a vital engine for robust

-2495-1366 Website: www.kiatnakin.co.th http://www.kiatnakin.co.th/ 2 Management Discussion and Analysis (MD&A) For the fourth quarter and year ended December 31, 2019 comparing operating performance and