The opinions of the Independent Financial Advisor on the connected transaction (For the purpose of translation only) 1 Table of Contents Page Executive Summary 5 Secion 1 Request for approval to sell

offering of special investment privileges and the establishment of an official target for Thailand to become a medical hub and a center for the export of medical devices by 2020; (ii) the rising trend of

that the new government will continue the government's policy which is expected to affect the demand for products and services in the retail wholesale business group restaurants and hotels and

investment privileges and the establishment of an official target for Thailand to become a medical hub and a center for the export of medical devices by 2020; (ii) the rising trend of illness in Thais

13.0% in Q4 2022 to 11.5% in Q4 2023 due to lower production volume of automotive parts manufacturing business. However, Gross profit margin was within our target Gross profit margin of 10-12% Selling

more than its target, which reflected in 2019 gross margin increase by 250 bps YoY to 34.9%. Q4’19 Gross margin was slightly improved 50 bps YoY and recorded at 35.0%, despite the impact of new sugar tax

signs of improvement in overall advertising sentiment in the remaining months of our fiscal year, we reiterate our target of THB 4,000mn in revenue in 2017/18. IMPORTANT EVENTS IN 2Q 2017/18 Transit in

Chilli Kagigori (collaboration with Doi Kham) • Plan to develop new brands offering unique products and services in order to meet the needs of new target customers • Focus on expanding Mikka Café branches

and lorry tanks, chemical tanks, machinery parts, steel structure). With its growing demand for LPG and the up and coming expansion of LPG storage and receiving terminals, it is expected that the LPG

CSL outstanding shares. Following the acquisition, AIS will have greater capability to serve increasing business demand for digital solutions e.g. Cloud, business solutions, and managed services in the