Page 1 of 5 26 February 2019 Subject Management Discussion and Analysis for the year ended December 31, 2018 To : The President The Stock Exchange of Thailand WICE Logistics Public Company Limited

breakdown by geography2 Thailand 6% 7% 6% 6% 6% Rest of Asia 20% 19% 17% 19% 19% Americas 36% 36% 38% 36% 38% Europe 31% 33% 33% 32% 31% Rest of the World 7% 6% 6% 7% 6% 1 Consolidated financials are based on

B.Grimm has been honored with several rewards which are mentioned below: 1. The Best IPO 2017 in Thailand from The Asset Triple A Country Awards 2017 – The Asset Magazine 2. Best IPO Deal in Southeast Asia

  3/ Certified Thailand Sustainability Investment 4/ Thailand Sustainability Investment THSI (SET) Ranking by Industry Business 4/ Business Kiatnakin-Phatra Financial Group consists of commercial

3/ Thai CAC  3/ Declared Thailand Sustainability Investment 4/ Thailand Sustainability Investment n/a Ranking by Industry Business 4/ Business The Company engages in the business of manufacturing and

exposure, and not to speculate on the direction of the market. KGI Securities (Thailand) Public Company Limited 173 Asia Centre Building, 8th - 11th Floor, South Sathorn Road, Thungmahamek Sub-District

I - Translation - Ref : LPH/SET 2020/004 February 25, 2020 Subject : Clarification on the Operating Results for Year 2019 period ended December 31, 2019 To : President The Stock Exchange of Thailand

President The Stock Exchange of Thailand The Company wishes to present the Management Discussion & Analysis (MD&A) on the operating and financial status for the 3rd quarter of 2017. The MD&A would enable the

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