Microsoft Word - MD&A 2017 EN.doc EFORL IR010/2018 March 20, 2018 Subject: Management Discussion and Analysis Yearly Ending 31 December, 2017 To President The Stock Exchange of Thailand 1. Overview

revised in 2004 to take into account inter alia, the experience in Asia with concentrated ownership. The Asian Roundtable therefore decided that a review of the White Paper was warranted. This Report is

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SHR MD&A 3Q19_EN Management’s Discussion and Analysis S Hotels and Resorts Public Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page 1 of 8 Management’s

MD&A Q4_2019 (Eng ) February 19, 2020 Subject : Yearly Management Discussion and Analysis of 2019 Attention : President of The Stock Exchange of Thailand We attach herewith the financial statements

MD&A Q2_2020 (Eng ) July 31, 2020 Subject : Interim Management Discussion and Analysis of Q2/2020 Attention : President of The Stock Exchange of Thailand We attach herewith the financial statements

MD&A Q3_2020 (Eng ) November 2, 2020 Subject : Interim Management Discussion and Analysis of Q3/2020 Attention : President of The Stock Exchange of Thailand We attach herewith the financial