Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND Tel: 02-0195000 18 February 2019 No. ZEN 2562-006 Subject Management Discussion and Analysis for

Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND Tel: 02-0195000 18 February 2019 No. ZEN 2562-008 Subject Management Discussion and Analysis for 9

The Results of the Comsolidated Financial Statements Clarification on the Percentage of Changes Exceeding 20% The consolidated financial statements of Nation Multimedia Group Public Company Limited

Microsoft Word - Clarification of Change more than 20%_NMG YE 2017.docx Clarification on Percentage of Change More Than 20% The consolidated financial statements of Nation Multimedia Group Public

Zen Corporation Group Public Company Limited 782/1 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 13 May 2019 No. ZEN 2562-018 Subject Management Discussion and Analysis for 3

million, which decreased by 27% compared to the same period of last year. The main reasons is from economic slowdown which affected advertising revenue from TV business decreased 3%, revenue from event

Broadcasting and Telecommunications Commission, (8) the Anti-Money Laundering Office, and (9) the Thai Alliance against Ponzi Schemes. The main objective of the multiparty collaboration is to prevent and

same period of 2018. The main reasons is from consumers have change behavior which affected circulation revenue decreased by 24% and advertising revenues decreased by 1%, the Group has terminated the

accumulated from the previous year as the company’s group having 21 projects under the construction in 2019, more than 13 projects in 2018. While Low-rise condominium customer are still the main customer of the

net profit of the Group declined. Analysis of revenues 2017 2016 Increase (decrease) Million Baht % Million Baht % Million Baht % Revenues from main business EMS business 2,300 32% 1,657 30% 643 39