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No. B52-202002/001 17 February 2020 Subject: Management Discussion and Analysis - for the year ended 31 December 2019. To: The President of Stock Exchange of Thailand B-52 Capital Public Company

: EIC-AD008/2019 February 27, 2019 Subject: Management Discussion and Analysis Yearly Financial Period Ending 31 December 2018 To: President The Stock Exchange of Thailand The Board of Directors of

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