Company Limited (“Sansiri”), which is the companies carry on real estate development business; namely, Siripat One Company Limited (“1st Company”), Siripat Two Company Limited (“2nd Company”), Siripat Three

) Comprising 10,000 ordinary shares at the value of 100 THB per share Investment Proportion: 50% of registered capital Shareholding Structure: 1. L.P.N. Development Public Co., Ltd. 49% 2. Nye Estate Co., Ltd

Office: 21 Soi Choei Phuang, Viphavadi-Rangsit Road, Jomphon Sub-district, Jatuchak District, Bangkok Incorporated under the laws of: Thailand Type of business: Hotel Business and Property Development

Veranda Resort Public Company Limited Management Discussion & Analysis Q1/2020 Management Discussion & Analysis Q1/2020 Revenue Structure Hotel 45.3% Property development 46.4% Food and beverage 6.1

: Revenue Structure The following table shows the total revenue structure of the Company by business type according to the consolidated financial statements for the three-month period and the six-month period

. Shareholder Structure: Shareholders are 1. 50% SCHNEIDER-KESSEL Beteiligungs GmbH 2. 50% Getabec Public Company Limited 6. Connected Nature: This transaction is not a connected transaction in accordance with

, herein collectively called “Boonrawd Group”). Under the Master Service Agreement, S Hotels is a service provider in relation to tourist facilities development project on Enboodhoo Lagoon in the Republic of

executionn !&% %,"O*)()* route trade 6 +".%()* criteria )#$\! .'+!C#[/+P*M$ \% " ' (#"O*! ̀* !!"'% #()* business structure ')'#+"'$".'O,"f+ "%"$(#S#$+]bML")'#+"O.'* L P. trading venues

% Revenue Structure Hotel 6% Property development 86% Food and beverage 5% Management service 1% Revenue from hotel operations which is the revenue from hotel services including other services such as

-1 1 Ref. LPN/SorKor/053/2563 13rd February 2020 RE: Financial Statements Analysis Report 2019 Dear: President The Stock Exchange of Thailand L.P.N. Development Public Co., Ltd. would like to submit