beneficial to the Company and its shareholders, given the reasons described in item 8 above. The Meeting therefore resolved to approve that the Company enter into the Transaction. 13. Opinions of the company’s

Directors considered and viewed that the Transaction was reasonable and beneficial to the Company and its shareholders, given the reasons described in item 8 above. The Meeting therefore resolved to approve

Company must fulfill pursuant to the Connected Transaction Notifications as described above, the allocation and offering of the newly issued ordinary shares of the Company to ACO I is also subject to the

Notifications as described above, the allocation and offering of the newly issued ordinary shares of the Company to ACO I is also subject to the conditions of the offering of new shares to specific investors

, such development can be described as follows: - Translation - Page 2 of 11 2015 Domestic Sales Energy Drinks Sports Drinks Other Branded Products 3rd-party Products 2016 Domestic Sales 5,477 614 51 238

management of companies and close members of such individuals’ families; and (e) enterprises in which a substantial interest in the voting power is owned, directly or indirectly, by any person described in (c

sales as described earlier. Total admin. expenses stood at THB 1,421 mn, a 18.1% increase YoY. Administrative Expenses Total administrative expenses constituted expenses on personnel, marketing

2019, costs of sales at THB 359 mn, an increase of 60.5% YoY). The decrease is in-line with the lower revenue from sales as described earlier. Total admin. expenses stood at THB 1,684 mn, a 17.1

assets in type 2 with a value equal to 21.06 percent The details on calculation of the transaction size of the Acquisition and Acceptance of Transfer of the Entire Business are described below. Basis

Business are described below. Basis Formula Transaction Size 1. Net Tangible Assets (NTA) NTA of assets acquired * shareholding percentage * 100 NTA of the Listed Company = 96,584,798.74* 90% * 100