Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 Translation UWC 031/2560 August 10, 2017 Subject : Management Discussion and Analysis for quarter 2-2017 To

Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 1 Translation UWC 023/2562 August 16, 2019 Subject : Management Discussion and Analysis for quarter 2-2019

Discussion and Analysis of Financial Condition and Results of Operations for the year 2556 Translation UWC 028/2018 August 10, 2018 Subject : Management Discussion and Analysis for quarter 2-2018 To

1 / 5 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS • Explanation and analysis of financial performance for the year at the end of 31 December 2018

completes the precedent condition prescribed in the contract relating to the REIT acquisition of assets 5. Loan for capital increase has been secured However, the plan for disposal of assets is still

) the nature of unlawful act is a violation or non-compliance of provision of law, regulation, order or condition, in materiality or a breach of fiduciary duty or a violation or non-compliance of

Section 105 Securities and Exchange Act B.E. 2535 Section 105. A securities company shall prepare its accounts stating true and accurate business operation and financial condition, which must conform

increased ,while the Social security revenue of subsidiaries decreased. Payment system of Social security office is uncertain therefore in Q1/2019 subsidiaries did not receive revenue of chromic disease. 2

the selling price). After the disposal of all investments in NML, NML will cease to be a subsidiary of the Company. Nevertheless, it was uncertain if the Company and the Purchaser would be able to sign

at the Land Office where the lands are located. So that, the Company’s Board has considered the value of the lands are appropriate by taking the same condition of evaluating price of the Land