August 9, 2017 Re: Clarification on Extension of the Completion of the Acquisition of Shares in the Biogas Power Plant Project of Aukkarawat Plant Renewable Energies Co., Ltd. (the “Project”) To: President

November 1, 2017 Re: Clarification on Extension of the Completion of the Acquisition of Shares in the Biogas Power Plant Project of Aukkarawat Plant Renewable Energies Co., Ltd. (the “Project”) To: President

. ❑Market forces thought that analyst following could mitigate underinvestment. ❑ He et al. (2019): analysts function limits management’s negative news hoarding behaviors and minimizes future stock price

% 100% 99.99% 100% 99.99% 99.99% 81.25% 24.50% 12.8% (10.40%) 39.6% 50% 20% 100% 100% Alternative Energies (KK) 50% (25%) 40% 25% 15% 25.5% 47.6% 100% 99.99% 100% Kyotamba (GK) 98% 100% 100% Shichi

mitigation Ministry of Agriculture and Cooperatives Permanent Secretary, Director-General and high level authority join forces for achievement of GHG emission reduction target as set by improving the

involved;  Providing agencies with sufficient powers to regulate and monitor market behavior, * The participating Asian economies include: Bangladesh, China, Hong Kong China, India, Indonesia, Korea

tokens and draft prospectus become effective, the SEC Office shall have the following powers: A36633673/0.7/02 Jul 2018 6 (1) in the case where the SEC Office discovers that the statements or particulars

inaugural Sustainability bond • Current Outstanding exceeds THB 337 bn - ESGLB35DA: THB 212 bn - ESGLB376A: THB 125 bn • Nov 2019: BOT and IFC signed MOU to join forces to accelerate sustainable finance in

what forces are behind it ⋄ Market inefficiencies (e.g. Basu, 1977; Rosenberg, Reid, and Landstein, 1985; Lakonishok, Schleifer, and Vishny, 1994) ⋄ Risk that warrants higher returns expectations (e.g

ตั้งขึ้นเฉพาะกิจ เชน กองทุนเพื่อแกไขปญหาในระบบสถาบันการเงิน เปนตน 2 Principle 8 states that the regulator should have comprehensive inspection, investigation and surveillance powers. Principle 9