Directors and Audit Committee’s opinion The Board of director and Audit committee considered and agreed that the rental rate is reasonable compare to changing the rental location which has the cost of

73.86% The condition which may affect shareholder’s rights - none - The Board of Directors and Audit Committee’s opinion The Board of director and Audit committee considered and agreed that the rental

reasonable and it is a normal operation business of the Company or Subsidiary. The Company or Subsidiary will receive the property management fee. The Audit Committee’s opinion : Their opinions were not

. Audit Committee’s………………. 9. Audit Committee's Opinion - Regarding to the above connected transaction, Audit Committee has agreed that it is reasonable to assign MTC to manage this amount of money as they

Up Capital / No. of Shares Name of Connected Persons Share (s) in related company % of share in AEONTS AFS 45,698,196,100 JPY / 225,510,128 shares Mr. Hideki Wakabayashi* - - ASB Cambodia 12,500,000

. The selling of these land titles is a part of the direction to resolve the grounds of possible delisting. Board of Directors and Auditing Committee’s opinion: Considering the current economic condition

. However, the interested directors have not attended the meeting nor exercised their voting in favor of this agenda. 10. Opinion of the Audit Committee and/or Directors of the Company that different from the

interested directors have not attended the meeting nor exercised their voting in favor of this agenda. 10. Opinion of the Audit Committee and/or Directors of the Company that different from the Board of

August 3, 2018 8.1 Mr. Suphadej Poonpipat 8.2 Mr.Suvait Theeravachirakul 8.3 Mr.Kasemsuk Chongmankhong 3 / 3 9. The Board of Directors’ opinions and the Audit Committee’s opinions Board of Directors and

connected transaction is reasonable and it is a normal operation business of the Subsidiary. The Subsidiary will receive the remuneration. The Audit Committee’s opinion : Their opinions were not difference