expenses 4 Interest net of tax on THB 15 billion Perpetual Debentures 5 M&A earnings are annualized for ROCE calculation to appropriately represent the ratio based on restated historical numbers. ROCE

Perpetual Debentures 5 M&A earnings are annualized for ROCE calculation to appropriately represent the ratio based on restated historical numbers. ROCE calculation is based on THB currency which may not match

) 1.04 0.20 0.07 Core EPS (THB) 0.60 0.23 0.25 Net Operating Core ROCE1 (before JV’s and M&A Annualized)% 7.9% 3.3% 5.5% 1 M&A earnings are annualized for ROCE calculation to appropriately represent the

by +1 and perfectly attracted to GR investors designated by -1. We define two market participants, one being a perfectly rational investor (R) who generally represent much of the market and (GR) who

regulations specified in this Annex represent the equivalent requirements to be complied with by Hong Kong Covered Entities. 15 Financial reports must be prepared in compliance with internationally recognized

relevant Hong Kong rules and regulations specified in this Annex represent the requirements to be complied with by Thai Covered Funds. 12 Financial reports must be prepared in compliance with internationally

innovate, its supply chain management, its environmental management systems and human rights policies and practices. These represent a growing class of factors that drive company performance and value. All

securities and the conditions of securities, including the suitability for investment and the relevant risk exposure. The effectiveness of this registration statement/ draft prospectus does not represent that

average of the percentage increase in certainty-equivalent income from including factor i in each of its eight pairs. We decompose ΓA into four components that represent the contribution of factor i as

highlight several stylized facts that, we hope, would give investors a better understanding about them. In examining 294 funds that together represent more than 620 billion Baht of AUM, the majority of which