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- Translation - Page 1 of 7 CBG 019/2018 11 May 2018 Subject Management discussions and analysis for the 3-month period ending 31 March 2018 To President The Stock Exchange of Thailand We, Carabao

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Microsoft Word - ACE MDA YE21 - EN_Final 1 No. ACE-ACC-1/2022 28 February 2022 Subject Management Discussion and Analysis for the year ended 31 December 2021 To President The Stock Exchange of

to an increase of net profit and a decrease of shareholders’ equity from interim dividend payment and treasury stock. 6 Forth Smart Service Public Company Limited (FSMART) 3Q18 Management Discussion

(Translation) No. MD119/2560 August 29, 2017 Re: Clarification on the Financial Performance of the Company and its subsidiaries as of Year 2015 Attn: President The Stock Exchange of Thailand We, K. C

(raw material), COGs/revenue ratio of Q1/2019 are at high level. This is because of high stock level carried over Q4/2018.  Increase in cost of sales of are main impact to minus in bottom line. 3 / 4