winner conducted securities analysis on CP ALL Plc with support of their faculty advisers Pantisa Pavabutr and Anchada Charoenrook, industry mentor Deputy Vice President of Tris Rating Co., Ltd. Yingyong

Rating ของ ผูค้ําประกัน ผูรับรอง 101 - หุนสามัญ 000 - นอกตลาด (NO MARKET) 0 - ตปท. 110 - ธนาคารแหงประเทศไทย 00 - NONE 102 - หุนบุริมสิทธิ 001 - ตลาดหลักทรัพยแหงประเทศไทย (SET) 1 - บาท 121 - ธนาคาร

Rating for the year 2019, be acknowledged. TRIS Rating upgraded the Company rating and the ratings of the Company’s outstanding senior unsecured debentures to “A” from “A-”. The rating upgrade reflects

UNOFFICIAL TRANSLATION Readers should be aware that only the original Thai text has legal force, and that this English translation is strictly for reference. 9 Notification of the Capital Market

UNOFFICIAL TRANSLATION Readers should be aware that only the original Thai text has legal force, and that this English translation is strictly for reference. Notification of the Capital Market

TRANSLATION) Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. Notification of the Capital Market Supervisory Board No. Tor

or capital market in general. Clause 11/2.15 The investment advisory company shall submit a report or present the document relating to the mutual fund rating within the period or 13 As added by the

rating โดยมีรายละเอียดตาม ตารางที่ 3-5 ดังนี้ 6 ตารางที่ 3 : อัตราความเสี่ยง general market risk ของตราสารหนี้และเทียบเท่า โซน อายุคงเหลือ Zero coupon Coupon rate 10% 0-3 เดือน 0.08

(UNOFFICIAL TRANSLATION) Readers should be aware that only the original Thai text has legal force, and that this English translation is strictly for reference. Notification of the Capital Market

registrars. Note: For Singapore corp. debt securities, data is as of 2006, and including non-SGD bonds issued in Singapore market * Including debt securities issued by foreign issuers OOuuttssttaannddiinngg