Inform the Board Resolution to register a subsidiary company in SET - Translation - UAC.CS/006/2018 March 23, 2018 Subject: Plan to spin-off Subsidiary Company to be listed in mai To: The President

(English Translation) Page 1 Date : 5 February 2018 Subject : Notification of the Board of Directors’ Resolution Concerning the Plan to Spin Off its Subsidiary and to List Shares on the Stock

percent from restaurants and bakery shops in domestic and overseas businesses. The growth of the same store sales of restaurants and bakery shop in domestic under brand “S&P” decreased by 4.90 percent

number of restaurants and bakery shops in domestic and overseas countries. The growth of the same store sales of domestic restaurants and bakery shops under the brand “S&P” decreased by 4.00 percent. For

of THB 8 million or equivalent to an increase of 0. 4 percent from 520 restaurants and bakery shops in both domestic and international businesses. The growth of the same store sales of the domestic

and services, which is decreased from the same period of the previous year in the amount of THB 26 million or equivalent to an decrease of 1.4 percent from 520 restaurants and bakery shops in both

, Thailand’s pastry and bakery industry face fierce competition from both direct and indirect competitors as result from (1) Pastry and bakery industry face a threat from a price war; hence competitors often use

percent, because the growth of the same store sales of the domestic restaurants and bakery shops are decreased by 4. 4 percent as a result of an domestic economic slowdown and the growth of the same store

previous year in the amount of THB 296 million or equivalent to a decrease of 3.9 percent as a result of the operating results of Domestic restaurant and bakery business and overseas restaurant business that

, because the growth of the same store sales of the domestic restaurants and bakery shops are decreased by 3. 2 percent and 7. 2 percent respectively as a result of an domestic economic slowdown and the