1 Ref. No. JUTHA-10/2563 November 2, 2020 Subject: Amendment of Articles of Association, Debt to Equity Conversion Constituting a Connected Transaction, Issuance and Offering of Newly Issued Ordinary

Extraordinary General Meeting (EGM) resolved to approve the acquisition of 75% in VGI Global Media (Malaysia) Sdn. Bhd (“VGM”) with a total investment value of THB 360mn. This transaction is expected to complete

the Acquisition and Disposal of Assets B.E. 2547 (2004) dated 29 October 2004 (as amended) where the calculation of transaction size will be based on (1) the financial statements in which equity method

Total equity 73.26 77.02 71.27 Total liabilities and shareholders' equity 89.48 93.39 107.04 8 5. Calculation of Transaction Size Pursuant to the Acquisition and Disposition Notifications Calculation

) 29,024,000 Minority Shareholder Equity (Baht) – (4) 15,143,000 Net Tangible Asset (Baht) = (1) – (2) – (3) – (4) 924,342,000 Total value transaction = Value of Interest Rate over the period of borrowing (Baht

31, 2019. (Value of transaction paid x 100 / Total assets ) = 57,750,000*100/1,848,984,041.62 = 3.12  The value of equity shares issued for the payment of assets has not been applied due to the fact

the extra accounting expense as mention above. If we exclude this transaction, the EBITDA for year 2018 would grow by 15% yoy and EBITDA margin would increase to 26% for year 2018. Financing Costs In

stated) 2019 2018 Change Amount % Change Net profit (Loss) attributable to equity holders -181 1,299 -1,480 -113.94% Net profit attributable to equity holders (Exclude other expenses)* 902 1,299 -397

(loss) attributable to equity holders 411 321 90 28.10% Net profit (loss) attributable to equity holders Margin (%) 7.16% 6.16% 1.00% EBITDA 773 707 66 9.34% http://www.aapico.com/ http://www.aapico.com

0.89 million from last year. (2018 : amounting of Baht 10.38 million). 5) Company record profit sharing in joint-venture by equity method of Baht 3.18 million increased from last year by Baht 2.07