below) has considered and viewed the Transaction to be reasonable beneficial to the Company and its shareholders for the following reason; - The acquisition of KPPH shall not only aim to acquire its

-district, Hokkaido Province, Japan per following details: 1.1 Date of Transaction Expected to be completed within February 2018 1.2 Contract Parties Seller: Pace Development Corporation Public Company

the shareholding in subsidiary companies To: President The Stock Exchange of Thailand Attachment: 1. Structure of the shareholding in subsidiary companies 2. Information on the Connected Transaction of

to the Company’s shareholders. 9. Opinion of the Board of Directors Regarding the Transaction The Board of Directors has considered and viewed that the transaction is reasonable and most beneficial to

and the transaction also is reasonable and will benefit the Company and shareholders. 12. Opinion of the Company’s Audit Committee and/or directors that differs from opinion of the Board of Directors as

the value of Hero Experience. As a result of feasibility study, the Company will execute the transaction by aiming that such investment will provide reasonable return from the investment at the equity

entering into the transaction is appropriate and for the benefits of the Company and the shareholders, and under reasonable conditions. In addition, the Board of Directors has considered and opined that

661 6664-5 www.indoramaventures.com Ref. No. 003/01/2019 15th January 2019 Subject: Information Memorandum on a Connected Transaction and Open Offer of Shares in Indo Rama Synthetics (India) Ltd. To

considered and viewed that this transaction is reasonable and beneficial to WORLD and shareholders since this acquisition. It is worthy investment because there are deposit amounts for both projects although

shareholders, the Board of Directors (not including the Interested Directors) was of the view that such transaction to offer the financial assistance is reasonable and would directly benefit the Company