No. KorNor. 2/2550 Re: Rules, Conditions and Procedures for Applying for Permission and Granting of Permission to Management Companies to Establish Branch Offices _____________ By virtue of Section 14

of the Securities and Exchange Commission No. KorNor. 2/2550 Re: Rules, Conditions and Procedures for Applying for Permission and Granting of Permission to Management Companies to Establish Branch

proactive measures to timely manage the situation rapidly changed by considering all stakeholders. The Company also has the policy of efficiency management in terms of maximizing cost saving and resource

flows, the terminal growth rate and discounted rate used in the assumptions are based on management of the subsidiary and indirect subsidiary’s judgment and past experience and business plan, as well as

percent of the NAV during any financial year. This is part of the mechanism driving Thailand’s sustainable development. However, in any event that an asset management company considers that any company has

terminal growth rate and discounted rate used in the assumptions are based on management of the subsidiary’s judgment and past experience and business plan, as well as the future prediction that is believed

assumptions are based on management of the subsidiary’s judgment and past experience and business plan, as well as the future prediction that is believed to be reasonable in the present situation and compared

future cash flows, the terminal growth rate and discounted rate used in the assumptions are based on management of the subsidiary and indirect subsidiary’s judgment and past experience and business plan

-7186 www.rockgarden.co.th BROCK : 36 / 2020 August 13, 2020 Re : Management Discussion and Analysis (MD&A) For Quarter 2 / 2020 Attn : President The Stock Exchange of Thailand Baan Rock Garden Public

companies and derivatives intermediaries aims to enhance flexibility for business operators in providing services to investors and to support their adjustment to the changing situation. Meanwhile, the SEC