Exchange Commission No. KorNor. 69/2547 Re: Rules, Conditions, and Procedures for Approval of the Private Fund Custodian By virtue of Section 14 of the Securities and Exchanges Act, B.E. 2535 (1992) and

private fund; “Management company” means any mutual fund management company and private fund management company; “Mutual fund management company” means any securities company licensed to undertake

on Private Fund Management dated 31 July 2000; (4) Notification of the Office of the Securities and Exchange Commission No. SorNor. 49/2543 Re: Rules on Protection of Conflict of Interest on Investment

companies to lay out plans and procedures for effective development of investor contact competency. To achieve the aforesaid objectives, the Office has prescribed guidelines for renewal of approval for

comply with the requirements prescribed by the Office. This is to encourage securities companies to organize more in-house training which will support the ongoing personnel’s skill development to be better

insurance company; (9) mutual fund; (10) private fund managed by a securities company for the investment of ultra-high net worth investors, high net worth investors or investors under (1) to (9) or (11) to

Operating Results 1. Organizational structure and operation of the group of companies 3 2. Risk management 12 3. Business sustainability development 13 4. Management discussion and analysis (MD&A) 17 5

to clients; (3) mutual fund management excluding foreign investment funds; (4) private fund management; (5) securities borrowing and lending; (6) financing securities business; (7) derivatives

under the Innovation Development Program to Support Provision of Capital Market Services [regulatory sandbox]. “ fee ” means a fee for undertaking business according to license; “ Exchange ” means the

insurance companies; (f) life insurance companies; (g) juristic persons in the category of corporation; (h) mutual funds; (i) private funds; (j) Government Pension Fund; (k) provident funds; (l) Bank of