-TRANSLATION- 15 May 2019 Subject : Management Discussion and Analysis for Q1/2019 Attention : President The Stock Exchange of Thailand An overview of the results in the passing The performance in

1 Translation CEN 012-2019 May 14, 2019 Subject Management discussion and analysis for business operation Quarter 1-2019 To The Manager and President The Stock Exchange of Thailand For 3 months

-TRANSLATION- 14 August 2019 Subject : Management Discussion and Analysis for Q2/2019 Attention : President The Stock Exchange of Thailand An overview of the results in the passing The performance in

Ref. No. 1805/025EN May 14, 2018 Subject Management Discussion and Analysis for Q1/2018 (Ending March 31, 2018) To Director and Manager of the Stock Exchange of Thailand Ubis (Asia) Public Company

-TRANSLATION- 15 May 2018 Subject : Management Discussion and Analysis for Q1/2018 Attention : President The Stock Exchange of Thailand An overview of the results in the passing The performance in

decrease of 5.0% and 7.7% compared with same period of last year as a result of service price adjustment for the hospitals under Social Security Scheme for severe diseases had decreased from 12,800/AdjRw to

-TRANSLATION- 14 August 2018 Subject : Management Discussion and Analysis for Q2/2018 Attention : President The Stock Exchange of Thailand An overview of the results in the passing The performance in

price that was affordable by customers. All these were met customers’ demands. In this quarter, the gross margin from sale of low-rise residential units was 35.2%, higher than the same period of last year

-TRANSLATION- 13 November 2018 Subject : Management Discussion and Analysis for Q3/2018 Attention : President The Stock Exchange of Thailand An overview of the results in the passing The performance

utilization at around 90% with conversion costs matching the first quartile plants. Accordingly IVL management believes the acquisition of balance 26% stake now will help integrate the PTIP assets with other