purchasing power of consumers in middle-low income levels decline from the economic slowdown. While the total revenue from the core business increased 0.7%QoQ, driven by higher usage amount of other services

1 --Translation-- Sor Gor 7/2018 January 19, 2018 Subject: Management Discussion and Analysis for the year ended December 31, 2017 (Unaudited) To: The President The Stock Exchange of Thailand

1 --Translation-- Sor Gor 11/2018 February 22, 2018 Subject: Management Discussion and Analysis for the year ended December 31, 2017 (Audited) To: The President The Stock Exchange of Thailand

Analysis  Total Expenses (Million Baht) Quarterly Change 1/2020 1/2019 % Cost of Goods Sold 178.8 257.2 (30.5) Temporary Shutdown Expenses 44.8 43.9 2.3 Allowance for the decline in value of inventory 6.0

bondholder representative analyze the benefits and shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective

approval and decline of approval for the above matters with respective supporting reasons, and clearly provide information to the bondholders together with the opinions of the bondholder representative

and shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective supporting reasons, and clearly provide

’ representative analyze the benefits and shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective supporting reasons

’ representative analyze the benefits and shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective supporting

to 5:1. The SEC requires that the bondholders’ representative analyze the benefits and shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of