exchange Earnings from operation before change in operating assets and liabilities Operating assets (increase) decrease Long-term deposits at financial institutions Securities purchased under reverse

Securities and Exchange Commission No. Or Thor. 21/2543 Re: Guidelines for the Operating Control of Brokerage and Dealing of Securities That Are Not Debt Instruments _____________________________ For the

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

1 Organizational Structure, Operating System and Operational Control Clause 2 In undertaking the derivatives business, a derivatives dealer shall set up organizational structure, operating systems and

control in the subsidiaries operating the core businesses and other oversight guidelines for activities such as approval of increase or decrease of capital and dissolution of subsidiaries, etc. In case of a

reference. 14 Notification of the Capital Market Supervisory Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of

of the Office of the Securities and Exchange Commission No. OrKhor./Nor. 5/2549 Re: Guidelines Relating to Operating Systems of Fund Management Business In order for a management company to comply

Capital Market Supervisory Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of Securities Companies and Derivatives

) if the management company can demonstrate to the SEC Office that such person has rectified the cause, work system, management structure and operating control, which has caused such person to have the

, Clause 37, Clause 38, Clause 43(3), and Clause 44 of the Notification of the Capital Market Supervisory Board No. Tor Thor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating