to the tender offer date. 7. Expected Benefits to the Company The entering into of the Shares Purchase Transaction is in line with a crucial strategy of the Company, as it will benefit the Company and

to the tender offer date. 7. Expected Benefits to the Company The entering into of the Shares Purchase Transaction is in line with a crucial strategy of the Company, as it will benefit the Company and

Transaction is in line with a crucial strategy of the Company, as it will benefit the Company and the Company’s shareholders as follows: 7.1 Due to the fact that GLOW’s effective capacity7 for power generation

will keep us more disciplined in areas such as exposure management, a crucial aspect given the complex nature of today’s markets. Additionally, we have created centralized expert enabling functions in

attractive returns.  The provision of targeted subsidies that are crucial to enable the cost competitiveness of specific green technologies and to enable industrial transitions, for example, the subsidies

resource allocation by their board of directors and executives that is practical and meets the standards established by an international organization concerning capital market supervision is crucial and

achievements in 2003 marked another milestone for entering its second decade of supervising and developing the Thai capital market. Undoubtedly, the capital market is increasingly crucial to the countryûs

crucial position to promote internal culture that values audit quality and it is their attitude toward audit quality that would be a key factor to steer the firms in the right direction. The followings are

Alpha, Beta, and Now…Gamma David Blanchett, CFA, CFP® Head of Retirement Research Morningstar Investment Management Paul Kaplan, Ph.D., CFA Director of Research Morningstar Canada August 28, 2013 Morningstar Investment Management Page 2 of 27©2013 Morningstar. All rights reserved. This document includes proprietary material of Morningstar. Reproduction, transcription or other use, by any means, in whole or in part, without the prior written consent of Morningstar is prohibited. The Morningstar I...

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