Management Discussion and Analysis For the Annual Operating Results 2017 Ended December 31, 2017 Note: This Management Discussion and Analysis (MD&A) was made to disclose information and the vision

“VGM Share Acquisition Transaction”) and to propose the same at the extraordinary general meeting of shareholders for consideration and approval. The Company would like to disclose additional information

Institute in the Global Initiative for Sustainability Ratings (GISR) as the company conducts its business with transparency and fairness, disclose information in an accurate, transparent manner and

ended June 30, 2018. The Company has a duty to disclose the information memorandum regarding such transaction to the SET and appoint an independent financial advisor to provide opinions on the transaction

duty to disclose the information memorandum regarding such transaction to the SET and appoint an independent financial advisor to provide opinions on the transaction as well as arrange to obtain approval

of Assets. The transaction value is equal or more than 15 percent but less than 50 percent. Consequently, the Company is required to immediately disclose the information memorandum on the entering into

immediately disclose the information memorandum on the entering into the transaction to the Stock Exchange of Thailand (“SET”) and deliver circular notice to the shareholders of the Company within 21 days from

notifications issued thereunder. Clause 21 The stipulation on the disclosure of information of the trust shall be furnished with the trust manager’s duty and responsibility to prepare and disclose such

evidence D = Disclose Max score Actual score FOR EVALUTION OF THE ISSUER’S VULNERABLITY ASSESSMENT SECTION 1: ALLOCATION (To be completed for all water infrastructure assets) 1.1 Are there accountability

Financière Richemont, the company does not disclose any quantitative target regarding Scope 1 and 2. According to LVMH Environmental Report 2019, Christian Dior disclosed targets regarding its LIFE 2020