Ref. No. 156/2020 August 14, 2020 SUBJECT : Management Discussion and Analysis ending June 30, 2020 ATTN : The President Stock Exchange of Thailand Nam Seng Insurance Plc would like to clarify the

SN.LK.63.08.0001 August 7, 2020 Subject: Management Discussion and Analysis Quarter 2 ending June 30, 2020 Attention: The President The Stock Exchange of Thailand Indara Insurance Public Company

funds that will help increase liquidity and allow debt issuers affected by the COVID-19 pandemic to continue their business operation (bridge financing). This in turn will increase liquidity and

retirement savings more than the minimum estimate of 3 million baht**.” The SEC has therefore proposed guidelines for amending the Provident Fund Act B.E. 2530 (1987) to increase PVD efficiency in

management. Meanwhile, the SEC Board also allows type 1 property fund to borrow for investment for another year starting from the day REIT regulations come into effect, providing that the investment must be

water corresponding to increase in sales of chilled water despite the fall in costs of natural gas and solar installation costs. Comparing 9M/2019 vs 9M/20189M Operating Results PAGE 11PAGE 11 MANAGEMENT

, 2020 Subject Management’ Discussion and Analysis for the 1st Quarter in 2020 To Directors & Managers The Stock Exchange of Thailand Inter Pharma Public Company Limited (“the Company”) hereby submitting

debentures of THB 32 million, and, most of the remaining amount, interest related to liquidity management. 5 Corporate income tax expenses Corporate income tax expenses amounted to THB 134 million, an increase

additional of 827 keys (2 hotels). The increase was partially offset by the discontinuation in operations of the 2,645 keys (15 managed hotels). MANAGEMENT DISCUSSION & ANALYSIS 2019 14 FEBRUARY 2020 U CITY

profit the highest since 2013. The Company unveils Q2/2020 net profit 161 million Baht which increase from the same quarter last year at 17%. Page | 3 Management Discussion and Analysis Q2/2020 Net Profit