Management Discussion & Analysis ( - translation - ) For operating result of 4Q/18, ended 31 December 2018 Raimon Land Public Company Limited | 27 February 2019 1 / 5 Major Events in Q4/18 and

finished goods’ selling price.) Consolidated cost of goods sold and cost of service amounted to Baht 7,612 million, increased by Baht 1,159 million or 18% QoQ due to increase in sale volume and increase in

vertical integrated business expansions. The Group ended up having interest-bearing debts of THB 4,547 million as of 31 March 2018, up from THB 3,393 million as of 31 December 2017, or equivalent to the

Thailand Subject : The clarification about company’s net earning Q1/2018 Dear Sir, The quarterly operating result ended on March 31, 2018 is Baht 0.92 million loss on Baht 14.87 million revenues compared

Company have neither ability to manage finished goods (HRC) nor trade negotiation. Due to the Company had no choice but necessary to sell them just for generating income circulating used in the business

-Translated Version- No. ECF2 032/2020 14 August 2020 Subject: Management Discussion and Analysis of the 2nd quarter and 6-month period ended 30 June 2020 To President The Stock Exchange of Thailand

23_MDA Q3_2563 EN -Translation- No. ECF2 038/2020 16 November 2020 Subject: Management Discussion and Analysis of the 3rd quarter and 9-month period ended 30 September 2020 To President The Stock

- Translation - MPIC 022/2019 November 6, 2019 Subject: Submit the Financial Statement for the quarter ended September 30, 2019 and clarification for the change of operating result more than 20

(“Company”) would like to notify the operating result stated in consolidated financial statements for the third Quarter period ended September 30, 2020 compared with the same period of 2019. For the operating

/2020 dated November 7, 2020 approved the Company’s Interim Financial Information ending September 30, 2020. The Company would like to clarify the nine-month period ended September 30, 2020 earnings