The Board of Director of the Company (excluding the directors who had a conflict of interest on the Transaction as mentioned below) has considered and viewed the Transaction is reasonable and is

capital 9. Opinion of the Company’s Board of Directors The Board of Director of the Company (excluding the directors who had a conflict of interest on the Transaction as mentioned below) has considered and

measure of the Government Housing Bank to fix the interest rate for 1-5 years, starting on 22nd October 2019 until 24th December 2020. As a result of such measures, the sale and ownership transfer target of

the COVID-19 pandemic, which is presently spreading rapidly and appears almost uncontrollable coupled with a higher household debt. In addition, the Bank of Thailand cut the ceiling rates of interest

ceiling rates of interest rates on credit card from 18% to 16% per annum and personal loan from 28% to 25% per annum since August 1 last year as well as the announcement of temporary lockdown in July and

following regulations: Clause 1 In this Notification: “REIT” means a real estate investment trust. “real estate” means an immovable property including leasehold interest of immovable property. “property fund

65% 738 532 39% Core Net Profit after Tax and NCI ($m) 175 117 95 85% 540 334 62% Core Net Profit after Tax and NCI (THBm) 5,529 3,867 3,322 66% 17,783 11,759 51% Core EPS after PERP Interest (THB)5

include the interest paid to financial institutions and related persons. The Company’s financial costs in 2018 were THB 78.74 million, rose by THB 4.38 million or 5.89% up from 2017 mainly from higher

total revenue of THB 1,621 million, a decrease of 9.5% from 4Q17, contributed by decrease in revenues from the absence of Dusit Princess Korat Hotel and Other income. Earnings before Interest, Taxes

Equity Ratio20 (times) 0.44 0.35 0.28 Interest Coverage Ratio 21 (times) 11.61 16.42 22.22 Debt Service Coverage Ratio 22 (times) 0.12 0.14 0.19 Dividend Payout Ratio 23 (%) N/A * 73.38 N/A ** Remark: 1