% p.a Average tenor 6.91 Yrs 1 Original planned issuance size is 5,000 MB BTS Group Green Bond Presentation 11 BTS Group Holdings PCL Company Rating : A / Stable ; May 15 , 2019 Issue Rating : A / Stable

?Apart from professionalism, asset management companies adhere to corporate governance principles as a factor for consideration on investment of the funds. We believe that shareholders will obtain stable

commercial and passenger cars. Export-related manufacturing production, especially automotive, has continued to improve. The consensus view for 4% GDP growth in 2018 maybe revised upwards given the strong end

transparency on the external review processes for issuers, underwriters, investors and other stakeholders. They strive to represent a consensus view from all parties involved and will be updated periodically

สินทรัพย์ดิจิทัลรับฝาก สินทรัพย์ดิจิทัลตามข้อ 1. และ 2. ข้างต้น ไม่ครอบคลุมถึงกรณี ดังต่อไปนี้ ▪ การรับฝากสินทรัพย์ดิจิทัล ซึ่งเป็นส่วนหนึ่ง ของกลไกยืนยันธุรกรรม (consensus mechanism) เช่น Proof of Stake

reductions in tick size. • The general consensus in the literature is that a larger tick size is indeed associated with wider bid-ask spread, while the evidence on trading volume is mixed. Literature review

implementation of better corporate governance in the region, and (ii) consensus-building and real knowledge-sharing, including by providing a bridge between Asia and the OECD Corporate Governance Committee – the

respectively, stable at 3.7% of total revenue during both years. This was an increase of THB 13.4 Mn or 19.7% and the main factor for the increase was increased marketing expenses Administrative Expenses For the

stable. SG&A The Company selling expense for the year ended 31 December 2019 and 2018 were THB 256.71 and 207.62 million respectively. Selling expense had risen by THB 49.09 million or 23.64% due mainly to

Competitive Environment In 4Q17, the mobile competitive landscape was stable in terms of both handset campaigns and pricing. Postpaid segment continued to be a key focus with handset campaigns to gain new