Ref: VNT-CPR-2018.021 29 November 2018 Subject: Resolution of Vinythai Board of Directors' Meeting No.5/2018 on connected transaction Attn: President, the Stock Exchange of Thailand The Board of

: President The Stock Exchange of Thailand Reference Letter: The Letter of the Company dated 10 April 2018 re: Acquisition and Disposition of Assets Pace Development Corporation Public Company Limited (the

receiving financial assistance To Managing Director The Stock Exchange of Thailand According to the Board of Director Meeting of Pan Asia Footwear Public Company Limited (“Company” or “PAF”) No. 4/2019 which

investments and diversify their portfolios across various assets, and expand new investor base, enhance investment services in the stock market and securities company products, as well as create a wealth

-o-y as stock market slightly improved. Non-current assets decreased by 4.12 million baht or 12.35% y-o-y from amortization. Deferred tax decreased slightly. Liabilities show a decrease of short-term

trust issued by foreign ETF . “ underlying shares of ETF ” means shares which are registered as listed securities in the Stock Exchange of Thailand or foreign exchange, as the case may be, which are in a

securities and exchange means Securities and Exchange Act B.E. 2535 (1992) 2 “underlying shares of ETF” means shares which are registered as listed securities in the Stock Exchange of Thailand or foreign

” means shares which are registered as listed securities in the Stock Exchange of Thailand or foreign exchange, as the case may be, which are in a list of asset that an investor would be able to exchange

2008 and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition and Disposal of Assets

Name of directors y 2020 otification on th irector and Ma he Stock Exch s Nation Mult 0 on 28 Janu Limited (“NNV cent of the tot e World Com registered ca ounting to the ccording to th t of registered