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

(Decrease) Amount % Bangkok and vicinity/2 96.75 85.30 11.45 13.43 Other provinces/3 19.79 15.34 4.44 28.95 Total 116.54 100.64 15.89 15.79 Bangkok and vicinity/ 2 Total 21 branches have been operated before

. 31, 19 Dec 31, 18 Amount % Bangkok and vicinity/2 419.08 383.93 35.15 9.16 Other provinces/3 87.24 72.10 15.14 21.00 Total 506.33 456.03 50.29 11.03 Bangkok and vicinity/2 Total 20 branches have been

dental services March 31, 2020 March 31, 2019 Increase (Decrease) Amount % Bangkok and vicinity/2 93.10 95.86 (2.76) (2.88) Other provinces/3 19.73 19.79 (0.05) (0.27) Total 112.83 115.64 (2.81) (2.43

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

Amoun % Bangkok and vicinity/2 103.90 97.13 6.78 6.98 200.65 182.43 18.23 9.99 Other provinces/3 22.00 18.21 3.79 20.78 41.79 33.56 8.23 24.52 Total 125.90 115.34 10.56 9.16 242.44 215.98 26.46 12.25

YoY For the 9 months Change between YoY Q3/19 Q3/18 Amoun % Sep. 30, 2019 Sep. 30, 2018 Amoun % Bangkok and vicinity/2 112.69 100.13 12.57 12.55 313.35 282.56 30.79 10.90 Other provinces/3 23.22 19.36

branches in Bangkok and vicinity, and some branches in other provinces by closing them since March 25, 2020 which it is the defensive measures against the spread of COVID-19. The branches can open for

disposed asset is located in the vicinity of Charan Sanit Wong Road, Bangkok, totaling 21 rais, 3 ngan, 45.3 square wa. The value of such land as appraised on May 22, 2017 by T.A. Management Corporation

previous branches total 21 branches have been operated before year 2016 and located in Bangkok and vicinity: Ladprao , Ramkhamhaeng , Ram-Intra KM. 4, Changwattana , Srinakarin, Onnut, Ratchapraek, Rangsit