systems and purchasing discount (economy of scale). • The company has preliminary valuation of GPSC and GLOW synergy that will occur during the year 2019-2024, with the EBITDA expected to gradually increase

shareholders’ request. 8. Approved to propose to the 2018 Annual General Meeting of Shareholders to consider and approve the investment in Kerry Express (Thailand) Limited (“Kerry”) by purchasing 276,000

-Translation- No. ECF2 044/2561 3 December 2018 Subject: Notification of the resolutions of the Board of Directors’ Meeting approving the investment in purchasing the ordinary shares of S-TREK

No. ECF2 044/2561 3 December 2018 Subject: Notification of the resolutions of the Board of Directors’ Meeting approving the investment in purchasing the ordinary shares of S-TREK (Thailand) Co., Ltd

such as rubber and palm, weighed on household purchasing power. In response, the government approved Baht 84.2 billion in December to help support domestic spending. At the same time, private investment

rose by 5.5 percent to Baht 13.2 trillion (79.1 percent of GDP) as of the third quarter of 2019, weighed on household purchasing power. However, in the second half of the year, the government rolled out

beginning of the year, depressing farm income and the purchasing power of farm households, which represent a majority of the population. Coupled with high levels of household debt, these factors limited the

the Board of Directors’ Meeting approving the investment in purchasing the ordinary shares of S-TREK (Thailand) Co., Ltd., capital increase, and the issuance and allocation of the newly issued ordinary

resolutions of the Board of Directors’ Meeting approving the investment in purchasing the ordinary shares of S-TREK (Thailand) Co., Ltd., capital increase, and the issuance and allocation of the newly issued

the refundable Vat from the Revenue Department. In addition, the advance payment made for purchasing assets and animals decreased from 160.51 million Baht in 2017 to 69.99 million Baht in 2018