Website: www.aapico.com Management Discussion and Analysis for the 3rd quarter of year 2022 3 1) Strong performance of automotive parts business in Thailand and China. Portugal performed better in Q3 2022

Reform Priorities in Asia: Taking Corporate Governance to a Higher Level Taking Corporate Governance to a Higher Level reform priorities in Asia 2011 REFORM PRIORITIES IN ASIA: TAKING CORPORATE GOVERNANCE TO A HIGHER LEVEL 2011 This work is published on the responsibility of the Secretary-General of the OECD. The opinions expressed and arguments employed herein do not necessarily reflect the official views of the Organisation or of the governments of its member countries. This document and any m...

. Integrated Oxides and Derivatives EO, which represents around 40% of total production volume has performed well. EO margins have remained relatively stable, which is reflected in its unchanged EBITDA

in early February 2020. Packaging This segment has performed strongly both in the last quarter and the last twelve months supported by strong growth in both margins and volume, including an acquisition

in Vietnam in 2020. On 23 August 2019, the Company has officially launched the 1st standalone WINNER store under a COCO (Company Owned Company Operated) format in Ratchaburi province. ILM developed

per share equaled to 0.38 baht. 4 ASIA’S BOUTIQUE AIRLINE Notable Events Notable events in year 2017: 1. The Company has increased flight frequencies, operated new routes and terminated underperforming

demand and has increased flight frequencies, operated new routes and suspended the underperformed route as follows; New Routes  Bangkok – Cam Ranh 4 flights per week (January 2019)  Chiang Mai – Krabi

increased flight frequencies, operated new routes and suspended the underperformed route as follows; New Routes  Bangkok – Cam Ranh 4 flights per week (January 2019)  Chiang Mai – Krabi (one way) 3 flights

operated in accordance with the plan. The meeting resolved to terminate the Project with 62.5 percent of the votes in favor and 37.5 percent of the votes against. The management of Hero Experience has

flight frequencies due to passenger seasonal demand and has increased flight frequencies, operated new routes and suspended the underperformed route as follows; New Route Chiang Mai – Luang Prabang 3