MFC ASSET MANAGEMENT PUBLIC COMPANY LIMITED| | Offering Date : 21/04/2008 - 08/05/2008

LAND AND HOUSES FUND MANAGEMENT COMPANY LIMITED| | Offering Date : 05/07/2012 - 13/07/2012

Veranda Resort Public Company Limited Management Discussion & Analysis Q2/2020 Management Discussion & Analysis Q2/2020 The company has main revenue portion from the property development business

) Quality Houses Leasehold Property Fund 45 41 4 10 Quality House Hotel and Residence Freehold and Leasehold Property Fund 18 16 2 13 Total 417 390 27 7 Note : *In July 2017, LH Financial Group Plc. increased

of 265 million Baht, decreased by 42% or by 191 million Baht due to the absence of specific business tax and residence transfer expense. In 3Q 2019, the Company had a total finance costs of 219 million

from starting transferred 16 units of Veranda Residence Hua Hin project in Q1/2020 which accounted for 7.8 % of the project value. • Revenue from hotel operations decreased by 135 million baht or

property development operations as second quarter of 2018 was transferred 44 units of residence units while in the second quarter of 2 0 1 9 was transferred 17 units with revenue from property development

Rightman Co., Ltd. (“RM”). The shareholding ratio of BCP and RM in the new joint venture company is 51:49. The approximated total investment in this project is THB 550 mn which is the BCP’s estimated portion

of the previous year. The increase is owing to the increase in the profit of Hongsa Power Company Limited, a joint venture, in a portion of 40 percent. In addition, the acquisition of RATCH

44,678 0% 75,447 1% 70,655 2% 74,465 2% Intangible assets - net 115,517 2 https://market.sec.or.th/public/idisc/Download?FILEID=dat/news/201905/19053713.pdf 19081138.pdf Residence Marina, United Arab