the Annual General Meeting of Shareholders 2017; Agenda Item 2 To consider and approve the tender offer for all securities in Thai British Security Printing Public Company Limited; 4 Agenda Item 3 To

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

premises and equipment expenses. Compared with the fourth quarter of 2016, operating expenses increased by Baht 121 million, due to an increase of Baht 445 million in personnel expenses from the annual

as prescribed by the accounting principle. 26. Retained earnings (deficit) 26.1 Appropriated 26.1.1 legal reserve means the reserve separated from annual net income under the Civil and Commercial Code

condition in the shareholders’ equity as prescribed by the accounting principle. 26. Retained earnings (deficit) 26.1 Appropriated 26.1.1 legal reserve means the reserve separated from annual net income under

means the reserve separated from annual net income under the Civil and Commercial Code and the Public Limited Company Act, B.E. 2535 (1992) 26.1.2 others means the amount appropriated from retained

6.00 การจัดการ ผู้ดูแลผลประโยชน์ นายทะเบียน ค่าใช้จ่ายอื่น รวมค่าใช้จ่าย ค่ำธรรมเนียม 11 ค่าธรรมเนียมหรือค่าใช้จ่ายของกองทุนหลัก ค่าธรรมเนียมหรือค่าใช้จ่ายของกองทุนหลัก - ค่าธรรมเนยีมการจดัการ (Annual

(Annual Management Fees) : ร้อยละ 0.85 ต่อปีของมูลค่าทรัพย์สินสุทธิของกองทุน - ค่าธรรมเนยีมการขาย (Preliminary Fee) : ไม่ม ี - ค่าธรรมเนยีมการรับซื้อคืน (Redemption Fee) : สูงสุดไม่เกินร้อยละ 2.00 - ค่าธรรม

to maintain liquidity. Public expenditure was affected by the delayed enactment of the Annual Budget Expenditure Act B.E. 2563. The government is also reallocating parts of its budget to mitigate the

financial cost and corporate income tax 14.87 13.26 6.75 6.22 (49.20) (77.29)2/ Financial Cost 1.05 0.94 1.02 0.94 1.92 3.02 Corporate Income Tax Expense 2.28 2.03 1.43 1.32 - - Annual Net Profit (Loss) 11.54