likely to leave EY in 2020. H2: KPMG’s existing clients are more likely to leave KPMG in 2020. H3: EY’s existing clients are more likely to leave EY for other Big 4 companies in 2020. H4: KPMG’s existing

teams are 1.7 times more likely to be leaders in innovation in their industries, driving growth and competitive advantage. • Companies with inclusive policies appears as having a lower turnover rate

EVALUATING IMPACT ON INTRINSIC VALUE OF STOCK Climate Risks Climate Opportunities Physical Risks ✓ Operational Risk ✓ Supply Chain Disruption ✓ Changing consumer behaviour ✓ Sales Impacted by weather

2016 2017 DW Trading Value (Mil. THB) Index DW Trading Value (Mil. THB) Recall: Option price consists of 2 components. Intrinsic value + Time (betting) value 5 Factor Calls Puts Note Asset price (S

compared to the same period of last year, cost of Sales of Baht 643.84 million or 81.34 percent of sales, which is caused by the price of goods, is likely to increase continuously, resulting in higher cost

and David Dodd in 1934 • Finding price-intrinsic value discrepancies in the market • Various price-based ratios and future stock returns ⋄ Earnings-to-price ratio (Basu, 1977) ⋄ Dividend-to-price ratio

-experienced individuals also likely to possess professional skepticism which will promote the appropriate exercise of judgment by the engagement team. In 2019, the average years of experiences of partners

previous quarterly To: The President The Stock Exchange of Thailand Thailand's economic outlook for the year 2018 is likely to be bright. After seeing a clear recovery in the last quarter of last year

likely to affect the rights and interests of shareholders or the decision making on investment. For example, an estimated number of visitors used in the projection was not disclosed. By virtue of Section

have laws about this already” – Agencies are staffed by lawyers, not software engineers – Enforcement is very, very difficult • When regulation comes to crypto, it will likely be voluntary, driven by