"Advice iStore. Bonus estimation increased from last year. Increased seminar and training costs from in-house employee development programs and employee health insurance benefits Expenses related to the IPO

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due largely to healthier growth of exports and tourism, especially in the first half of the year. Meanwhile, the government continued to implement measures to promote and strengthen the domestic economy through support of investment and private spending as well as bolstering opportunities for other econo...

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

payment, campaign to promote more application for KBank JCB Credit Card and OneSiam KBank Credit Card, cash back offering and transfer of accumulated points to our business partners’ loyalty programs to

debt moratorium programs. - The Company has an interest income on loans purchased of receivables - part of account receivable of Baht 1,27 7 million in Q2/2020 and Baht 2,515 million for six-month period

revenue and generate a sustain long-term returns. In 2019, the Company progressed with the following asset enhancement initiatives. Renovation programs of existing malls which have been completed in 2019

flow management to enhance liquidity; implementing process improvement programs; as well as analyzing real-time data for timely management and quicker adaptability to changes. All above measures are

enhancement programs to increase the value of existing shopping malls, customers, tenants and societies, and create long-term returns. In 2017, CPN engaged in the following asset enhancement initiatives