Comments on: “Trading costs on the Stock Exchange of Thailand” Authors: Charoenwong C., Ding D.K., Jenwittayaroje N. Comments on: “Risk-taking behaviour during downturn: evidence of loss-chasing and

S&P MD&A YE2018-ENG -1- Ref. POL. 029/2019 February 27, 2019 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P

and the Notification of the Board of Governors of the Stock Exchange of Thailand (SET), entitled Disclosure of Information and Other Acts of Listed Companies concerning the Connected Transaction, B.E

S&P MD&A Q2_2019-Eng Ref. POL. 085/2019 August 8th 2019 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P

Ref. POL. 125/2019 November 8th 2019 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P Syndicate Public Company

August 2020 Subject: Management Discussion and Analysis for the Performance for the six-month period ended 30 June 2020 To: President The Stock Exchange of Thailand The Board of Directors of Wow Factor

(Translation) Ref: EIC-AD012/2020 14 May 2020 Subject: Management Discussion and Analysis for the Performance for the three-month period ended 31 March 2020 To: President The Stock Exchange of Thailand The Board

-1- Ref. POL. 028/2020 February 25, 2020 Re: Management Discussion & Analysis of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P Syndicate Public

S&P MD&A 2017 -1- Ref. POL. 028/2018 February 23, 2018 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock Exchange of Thailand S & P Syndicate

S&P MD&A 2017-Revised Year In Comparison Table -1- Ref. POL. 028/2018 February 23, 2018 Re: Clarification of the Performance of S & P Syndicate Public Company Limited Dear The President The Stock