ลงทุนในอสังหาริมทรัพย์ꃂ숀 (Realꃂ䔀猀琀愀琀攀숀 Investmentꃂ吀爀甀猀琀⤀㰀⼀瀀㸀ഀ਀㰀瀀㸀숀 ꃂ숀 ꃂ숀 ꃂ⠀Ѐ⤎숀 การตั้งꃂ䔀砀挀栀愀渀最攀ⴀ琀爀愀搀攀搀숀 fundꃂ䌀ᤎ⌎㤎ᬎᜎ⌎ㄎ⨎ᔎ䰎㰎⼀瀀㸀ഀ਀㰀瀀㸀숀 ꃂ숀 ꃂ숀 ꃂ⠀܀⤎숀 การตั้งนิติบุคคลเฉพาะกิจในรูปทรัสต์ꃂ⠀匀瀀攀挀椀愀氀숀 Purposeꃂ吀爀甀猀琀

Project One Co., Ltd. ("PP1") and Pace Project Three Co., Ltd. ("PP3") which are the Company's subsidiaries and the shares of which are held by the Company, directly and indirectly through Pace Real Estate

Phase 2 through Dream Islands Development Private Limited (“Developer”) which is a subsidiary of SPM SG, and SPM SG indirectly holds 95 percent of shares in the Developer. With the expertise in real

Page 1 of 17 (-Translation-) No.DO 004/2563 February 12, 2020 Subject: The Acquisition and Disposition of Assets to Real Estate Investment Trust of M.K. Real Estate Development Public Company Limited

made a strong start to the year, with improvements in production volumes and margins across all segments and geographies. This performance is a result of our long-term investment strategy, the

and partners in each country by cooperatively working on strategic plans to select the right products and marketing strategy for each focused country, such as emerging countries in ASEAN as well as

mentioned acquisition of shares of Modern Pharma Company Limited is a transaction that is appropriate and beneficial to the Company due to its current direction and strategy is aiming to grow fast and

spending, operators continued to offer fixed-speed unlimited data packages for prepaid and postpaid as a key acquisition strategy to capture value-for-money segment. The unlimited packages had been

the company’s strategy. 10. Opinion of the Audit Committee and/or directors of the company which are different from those of the Board of Directors - None - The Company is confirmed that all the

and with the strategy to grow its business via M&A, short-term debts, i.e. collateral-free bridging loans, are designated sources of funds, particularly in acquiring lands and assets. Post acquisition