-Translation- 1 -Translation- Ref. NCH 067/2017 November 10, 2017 Subject : Management’s Discussion and Analysis Q3/2017 Attention : President The Stock Exchange of Thailand N.C. Housing Plc. (“the

-Translation- 1 -Translation- Ref. NCH 028/2019 August 9, 2019 Subject : Management’s Discussion and Analysis 2Q/2019 Attention : President The Stock Exchange of Thailand N.C. Housing Plc. (“the

. The increase was come from the opening new clubhouse which helped to improve the service quality of golf course and restaurant. Since February 2018, number of golfers and customers from nearby housing

-Translation- 1 -Translation- Ref. NCH 042/2018 August 10, 2018 Subject : Management’s Discussion and Analysis 2Q/2018 Attention : President The Stock Exchange of Thailand N.C. Housing Plc. (“the

the real estate sector. In addition, the Company launched new housing project in a potential location. All houses were well designed in both layout and functions and the Company was able to maintain

-Translation- 1 -Translation- Ref. NCH 056/2018 November 12, 2018 Subject : Management’s Discussion and Analysis 3Q/2018 Attention : President The Stock Exchange of Thailand N.C. Housing Plc. (“the

MTI: MUANG THAI INSURANCE PUBLIC COMPANY LIMITED NC: NEWCITY (BANGKOK) PUBLIC COMPANY LIMITED NCAP: NEXT CAPITAL PUBLIC COMPANY LIMITED NCH: N. C. HOUSING PUBLIC COMPANY LIMITED NCL: NCL INTERNATIONAL

household sector increased due to the rush to transfer home ownership before the effective date of the revision of the housing loan regulation (LTV measure) on April 1, 2019, but demand for auto-leasing

result, the Corporate Group could not sell its products to the export market or through modern trade stores. In addition, the consumers have put off decision for purchasing new homes in housing projects

distribution volume decreased by 25.69 or -16.34% (excluding internal usage for tap water production of 15.20 million Cu.M.), due to East Water group compliance to the Royal Irrigation Department’s policy for