Management Discussion and Analysis For the first quarter ended March 31, 2019 Kiatnakin Bank Public Company Limited Investor Relations Email: investor_relations@kiatnakin.co.th Tel. +66-2495-1366

signed in 2019 for 15 MW.  WHA Water Co.,Ltd, a subsidiary of WHAUP had signed a 15-year contract for demineralized water sales to Global Power Synergy Public Company Limited (GPSC) with capacity of 6,000

1 บริษัท เอ็นซีแอล อินเตอรเ์นช่ันแนล โลจิสติกส ์จ ำกัด (มหำชน) NCL INTERNATIONAL LOGISTICS PUBLIC COMPANY LIMITED ที่ NCL-M 15/62 วนัที่ 13 สงิหาคม 2562 เรื่อง ค าอธิบายและวิเคราะห์ของฝ่ายจัดการของ

a 4-storey office building with total area of 4,446.72 sqm from Noble Development Public Company Limited (Noble) at total investment of THB 800,000,000. MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 14

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Q2/2019 and H1/2019 ended 30 June 2019 1. Q2/2019 Highlights Figure 1: Quarterly results  In Q2

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loss on exchange rates from foreign-currency loan and interest expenses of Dusit Fudu Hotel Management (Shanghai) Company Limited in China even though the hotel operational performance has been improved

Limited (EBT of UE)  EBITDA was THB (19)mn, an improvement by THB 403mn from (422)mn in the same period of the previous year, largely as a result of the aforementioned reasons above and lower loss on