Are Value Premiums Driven by Behavioral Factors? Are Value Premiums Driven by Behavioral Factors? Kanis Saengchoteα Sampan Nettayanunβ αChulalongkorn Business School βFaculty of Business, Economics

value added to medical service business from the Company as being supporter of medical engineering for dialysis unit and operating dialysis unit business by KT Medical services Co., Ltd. (“KTMS

increase opportunity and channel in contributing value added to medical service business from the Company as being supporter of medical engineering for dialysis unit and operating dialysis unit business by

DISCLOSURES (TCFD) IMPLEMENTATION  TRUE BECAME AN OFFICIAL TCFD SUPPORTER IN JULY 2021  1/16 COMPANIES IN THAILAND  BENEFITS:  PREVENT & REDUCE BUSINESS RISK  CREATE OPPORTUNITIES  SELF-ASSESSMENT

: 18 July 2018 2. Financial Supporter, Connected Transaction Parties: Jaymart Public Company Limited which is major shareholder of the Company held 67.5% (Lender) 3. Financial Receiver: JAS Asset Public

99,999,800. In order to let the Company increase opportunity and channel in contributing value added to medical service business from the Company as being supporter of medical engineering for dialysis unit and

value are as follows: Date of Transaction Within January 31, 2019 Transaction Parties Finance supporter G J Steel Public Company Limited (“the Company”) Finance receiver G Steel Public Company Limited

: 19 July 2018 2. Financial Supporter, Connected Transaction Parties: Jaymart Public Company Limited which is major shareholder of the Company held 67.5% (Lender) 3. Financial Receiver: JAS Asset Public

overnors of Companies connected held 74.9% Limited for JAS ASSET Page 2/4 5. Transaction’s Value The Company will obtain the loan amount 100,000,000 Baht (Fifty Million Baht) without collateral or guarantee

Transaction Parties Finance supporter : G J Steel Public Company Limited (“Company”) Finance receiver : G Steel Public Company Limited (“GSTEL”), which holds shares in the company, both direct and indirect