Dividend Policy of the Company

The Company’s dividend policy is to pay dividends to its shareholders consisting of at least 40 percent of its net profit, based on the Company’s separate financial statements after deductions of corporate income tax and allocation of all types of reserves in accordance with the Company’s Articles of Association and applicable laws, including the Public Limited Companies Act B.E. 2535 (as amended). The dividend distributions to be made shall not exceed the Company’s retained earnings as set out in its separate financial statements. Dividend payments shall be made by taking into consideration relevant factors, such as the Company’s financial position, operating results, cash flow and the ability of the Company’s subsidiaries to make dividend payments, including the projected capital requirements for future growth, economic conditions, possible impacts from external factors on the operations of the Company and such other considerations as the Board of Directors may consider appropriate.

After the Board of Directors has passed a resolution approving the annual dividend payment, the Board of Directors shall propose the same to shareholders’ meeting for its approval of such payment, except for interim dividend payments which the Board of Directors has authority to approve from time to time when it is deemed that the Company has appropriate profits. The interim dividend payment will then be reported at the next shareholder meeting.