บริษัท ผาแดงอินดัสทรี จำกัด (มหาชน) และบริษัทย่อยบริษัท ผาแดงอินดัสทรี จำกัด (มหาชน) และบริษัทย่อย Padaeng Industry Public Company Limited and its subsidiaries

Management Discussion and Analysis (MD&A) Padaeng Industry Public Company Limited and its subsidiaries For the year ended December 31, 2019 1 | Padaeng Industry Public Company Limited and its

No. ACC 05/2017 KHON KAEN SUGAR INDUSTRY PUBLIC CO., LTD 503 K.S.L. TOWER, 9th FLOOR, SRIAYUDHYA ROAD, RAJATHEVI, BANGKOK 10400 14 September 2017 SUBJECT EXPLANATION FOR THE CHANGE IN FINANCIAL

เลขที่ HR 007 / 2542 No. ACC 01/2018 KHON KAEN SUGAR INDUSTRY PUBLIC CO., LTD 503 K.S.L. TOWER, 9th FLOOR, SRIAYUDHYA ROAD, RAJATHEVI, BANGKOK 10400 16 March 2018 SUBJECT EXPLANATION FOR THE INCREASE

No. AC 070/2018 KHON KAEN SUGAR INDUSTRY PUBLIC CO., LTD 503 K.S.L. TOWER, 9th FLOOR, SRIAYUDHYA ROAD, RAJATHEVI, BANGKOK 10400 14 June 2018 SUBJECT EXPLANATION FOR THE CHANGE IN PERFORMANCE OVER 20

of Padaeng Industry Public Company Limited at its meeting, No. 03-2017 on 7 August 2017 has approved that the Company invest short term Bill of Exchange which is considered as related parties

Beneficiary We refer to our letter of notice; ref. PDI/BK-BS-044/2017 dated 8 th August 2017 regarding the Board of Directors of Padaeng Industry Public Company Limited at its meeting, No. 03-2017 on 7 August

Industry Public Company Limited and its subsidiaries (“KSL”) would like to performance of year 2017 (November 201 compared to the net profit of THB 1,440 million last year, representing an increase of 36

Padaeng Industry Public Company Limited and its subsidiaries _______________________________________________________________ Management Discussion and Analysis (MD&A) For the three-month and six

Exchange of Thailand According to the The Board of Director Meeting of Fortune Parts Industry Public Company Limited (“FPI” or “The Company”), No. 10/2015, held on 21 December 2015 has resolved approved to