1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 30 June 2019 Bangkok Airways Public Company Limited and Its Subsidiaries 2 ASIA’S BOUTIQUE AIRLINE Bangkok Airways

Baht or 5.72% compared to same period of 2017) due to the declining in raw water sales volume and net profit attributable to Equity holders of the parent company was 580.63 million Baht, decreased by

coverage to 8 provinces nationwide Growth from sales of the Mikka franchise as expected During the new outbreak of COVID-19 pandemic, the Company focuses on pop-up stores by adding more service points to

long-term loan repayment to financial institutions by Baht 55.69 million. The Company had shareholders’ equity of Baht 1,243.62 million as at March 31, 2019, a growth of Baht 957.89 million or 335. 24

Company of Baht 38 million. The Company has maintained a low debt to equity ratio with steady growth in its shareholders’ equity from fund mobilization via the IPO and could generate retained earnings from

Stock Exchange of Thailand Cal-Comp Electronics (Thailand) Plc. (“the Company”) would like to submit the analysis performance for the third quarter and the nine-month period ended September 30, 2017

-9320 1 Ref: PCL 2019/008 May 8, 2019 Subject: Management Discussion and Analysis Quarterly Ended 31 March 2019 To: The President of the Stock Exchange of Thailand Panjawattana Plastic Public Company

S&P MD&A 2017 -1- Ref. POL. 028/2018 February 23, 2018 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P Syndicate

S&P MD&A 2017-Revised Year In Comparison Table -1- Ref. POL. 028/2018 February 23, 2018 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock

Ref. No. 1805/025EN May 14, 2018 Subject Management Discussion and Analysis for Q1/2018 (Ending March 31, 2018) To Director and Manager of the Stock Exchange of Thailand Ubis (Asia) Public Company