1 / 4 (Translation) PRG.MD. 040/2019 May 14th, 2019 Subject: Management Discussion and Analysis (MD&A) Q1/2019 Attention: Managing Director of the Stock Exchange of Thailand We, Patum Rice Mill and

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million, an increase of THB 209 million (after taking impact from foreign currency) from THB 1,112 million as of 31 December 2018. Dusit Thani PLC Management Discussion and Analysis For 1Q19 P a g e | 5

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