2020/21, the Company sees a positive sentiment from the Prowtech’s operation due to a sign of recovery in Outdoor media demand. Therefore, MACO will initially invest 15.0% in VGI Vietnam from subscribing

2019 D/E RATIO (Times) 1.06 1.30 Net Debt/EBITDA (Times) 3.58 4.43 Please be informed accordingly Yours sincerely, -Signature- (Miss Nilrat Jarumanopas) Chief Financial Officer Authorized to sign on

, change terms and conditions relating to the Equity Purchase Agreement and Hotel Management Agreements, to sign necessary and relevant documents and evidence on behalf of the Purchaser and the Company

Agreement and the Business Development Advisory Service Agreement (excluding the service fees and the scope of services); to sign necessary and relevant documents and evidences, including to negotiate any

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business plan of Takuni Land and will generate revenue and profit to Takuni Land, hence; benefits the Company’s shareholder. 10. Opinion of the Audit Committee and/or directors of the Company which is

unused tax losses and allowance for doubtful accounts of Hi Healthcare Center Co., Ltd. Moreover provision for long-term employee benefits Management’s discussion and analysis for the Quarter 3’ 2019 7 / 8

for retirement benefits at the amount of THB 96.8 million recorded in Q2’19 to reflect severance payment of maximum 400 days of wages stated in the new Labor Protection Act. The Company reported 2019

provision for employee benefits increased Baht 0.1 million.  Administrative expenses The Group’s administrative expenses were 181 million Baht, increase of 6 million Baht from the previous year, or 3.5

regard, after due consideration, the Board of Directors was of the view that the price of the ordinary shares disposed to NRED by the Company is appropriate. 8. Expected benefits of the transaction The