as the “Transaction”). The loan of USD 40 million is secured by the personal guarantee of the owner of Sakthi Group, Dr. Manickam Mahalingam, and CEO of Sakthi Automotive Group USA, Inc., Mr. Lalit

agreements and/or shareholding structure of SGAH Group, are entitled to be paid before shareholders of SGAH, adding cash and cash equivalents. The reinvestment formula based on the aforementioned principle is

of loan agreements and/or shareholding structure of SGAH Group, are entitled to be paid before shareholders of SGAH, adding cash and cash equivalents. The reinvestment formula based on the

Higashi Nihon Mega Solar 3 Godo Kaisha (“Higashi GK”) 19 AE Power Godo Kaisha (“AE Power GK”) 20 Kurihara Godo Kaisha (“Kurihara GK”) (English Translation) Page 6 EP Group Structure (English Translation

4.4 Group Structure 4.4.1 Prior to the amalgamation 4.4.2 After the amalgamation 5 Total value of consideration and other conditions Ferrum Energy shall compensate for the amalgamation for Eco’s shares

), is a reasonable transaction. The objective of the transaction is to restructure shareholding structure of group company to maximize business benefit. The share purchasing price is based on the Net

12 years Remarks : Both power plants has total production capacity 3.0 Megawatt and the maximum electricity purchase is 2.85 Megawatt with Feed-in-Tariff as in the above table. 4.4 Group Structure

Company. Boonrawd Brewery holds 99.99 percent of shares in SPM and indirectly holds 95 percent of shares in the Developer through SPM and other subsidiaries in Boonrawd Group. Relationship structure between

to the Group company has reorganized the structure to be more flexible and to increase ability and efficiency in business competition. Loss on temporary investment Loss on temporary investment amounts

THB 0.40 per share; which reflected another strong performance of GFPT group. For capital structure of the Group, as at September 30, 2017, the consolidated debt to equity ratio was 0.42: 1 and the net