PRINCIPAL ASSET MANAGEMENT COMPANY LIMITED|Feeder Fund | Offering Date : 19/02/2018 - 27/02/2018

period last year due to a slowdown in sales in China since the end of last year. Nevertheless, the Company managed to expand its business to the Philippines to extend the customer base and diversify its

except facial cleansers and gift sets which managed to grow significantly at a rate of 8 9 .4 7 % and 36 .25% respectively thanks to sales promotion campaigns that attracted customers and popularity of

% Sale Revenue Revenue from selling product under Company’s trademark 1) Facial skincare 142.15 51.26 115.27 61.30 (26.88) (18.91) 2) Body care 5.17 1.86 5.05 2.69 (0.12) (2.32) 3) Facial cleansing 70.16

Jun 2018 2019 THB mm % THB mm % THB mm % Sale Revenue Revenue from selling product under Company’s trademark 1) Facial skincare 278.96 73.60 116.28 58.39 (162.68) (58.32) 2) Body care 11.14 2.94 10.77

) (26.61) 2) Body care 21.68 8.31 8.63 4.50 (13.05) (60.19) 3) Facial cleansing 38.81 14.87 23.04 12.01 (15.77) (40.63) 4) Body cleansing 24.25 9.29 14.27 7.44 (9.98) (41.15) 5) Sunscreen 7.16 2.74 1.65 0.86

governing body should be disclosed to beneficiaries and others as well as the criteria that are applied to such appointments. Such criteria should always take account of the need for expertise and

majority of the relevant governing body are non-practitioners (with an appropriate cooling off period for former auditors); and - Funding of the regulator is free of undue influence by the audit profession

Mr. Vijchu Chantatub During 24 - 29 October 2018 and 13 November 2018, Mr. Vijchu Chantatub as a private fund manager, managed a private fund without honesty and care to preserve the interests of the