Investor Strategies for Incorporating ESG Considerations into Corporate Interactions www.blackrock.com www.ceres.org Century21st Engagement Investor Strategies for Incorporating ESG Considerations into Corporate Interactions [ 5 ] FOREWORD The Value of Our Voice ......................................................................................................................................... 1 How ESG Megatrends Are Shaping Valuation ...........................................................

) Environmental uncertainty (Cormier al, et, 2013) Personal aims of the managers, i.e. conservative or aggressive (Rodrigues & Esteban, 2012) Economic/Financial crisis (Latridis & Dimitras, 2013; Trombetta

เสมอและมีการเติบโตของเงินต้น (Income with Capital Appreciation) • การเติบโตของเงินต้นอย่างมาก (Aggressive Capital Appreciation) กลยุทธ์การลงทุน 10

for an increased level of production and the Company’s aggressive growth from 2018 onwards; 3) cost from trial runs and start-up of a new production line for some products, driving higher yield loss and

aggressive discount were withdrew in Jan-Feb while demand from lockdown only emerged in the last week of March. APRU continued declining as the competition remained elevated particularly with deep discount

aggressive discount were withdrew in Jan-Feb while demand from lockdown only emerged in the last week of March. APRU continued declining as the competition remained elevated particularly with deep discount

. Sales decrease factors: (D) The delisted of bakery business under brand "a smile" since June 2019 (E) Decreasing of ready to drink Green tea for export sale from an aggressive promotion from key

upcoming aggressive growth in the future. Q3/2017 Finance Costs The Company and its subsidiaries recorded finance costs of Baht 6 million, down 8% YoY, as a result of better interest rate as well as improved

challenging in 1Q19. In strategic areas, aggressive price plans and handset campaigns were launched, especially in prepaid, in which AIS was competitive to preserve scale. As a result, mobile revenue grew 1.1

awareness toward AIS Fibre, we became less aggressive in terms of discount campaigns. The strategy emphasized on responding to the customer needs e.g. customer can freely choose to subscribe package with or