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Mar-15A Jun-15A Sep-15A Dec-15A Mar-16A Jun-16A Sep-16A Dec-16A Mar-17A Jun-17A Sep-17A Dec-17A 53,862 (50,158) 3,704 (1,472) 98 2,330 1,312 3,642 0 0 0 (344) (334) (10) (85) 1,901 (993) 8 2,931 3,831 0.19

59,216 (52,384) 6,831 (1,560) 602 5,873 1,365 7,238 15 0 15 (761) (761) 0 (22) 5,105 (1,113) 5 249 4,236 0.21

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45,057 (38,117) 6,940 (1,562) 119 5,496 1,381 6,876 0 0 0 (1,051) (229) (821) 25 4,470 (847) 9 92 3,706 0.18

45,673 (42,200) 3,473 (1,595) 115 1,994 1,702 3,696 0 0 0 (1,158) (503) (654) 32 868 189 8 258 1,307 0.06

51,735 (46,582) 5,154 (1,534) 113 3,733 1,798 5,530 0 0 0 (1,771) (599) (1,172) 103 2,065 (162) 4 (205) 1,694 0.08

39,929 (35,743) 4,186 (1,518) 87 2,755 1,090 3,845 0 0 0 (872) (573) (300) 93 1,975 (408) 5 803 2,365 0.12

54,558 (50,911) 3,647 (1,621) 244 2,271 1,919 4,189 0 0 0 (1,014) (547) (466) 66 1,323 (190) (2) 94 1,228 0.06

56,724 (50,195) 6,529 (1,642) 138 5,025 2,029 7,054 0 0 0 (1,166) (480) (686) 67 3,927 (846) 1 168 3,248 0.16

62,891 (56,098) 6,793 (2,116) 66 4,743 2,024 6,767 58 0 58 (467) (467) 0 161 4,495 (737) 1 756 4,513 0.22

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Thailand

Corporate Governance

Corporate Governance Report of Thai Listed Companies Companies with Excellent CG Scoring Stock

Company name

Stock

Company name

Stock

Company name

AOT BCP BIGC BTS CK CPF CPN DELTA DRT DTAC EGCO GFPT

AIRPORTS OF THAILAND

GPSC HMPRO IRPC KBANK KCE KKP KTB KTC LPN MINT PTT PTTEP

GLOBAL POWER SYNERGY

PTTGC QH RATCH SCB SCC SPALI STEC SVI TCAP TISCO TMB TOP

PTT GLOBAL CHEMICAL

THAI OIL

Stock

Company name

Stock

Company name

Stock

Company name

AAV ADVANC ANAN AP BANPU BBL BDMS BEM CENTEL CHG

ASIA AVIATION

CKP DCC ERW GLOBAL GLOW GUNKUL LH MALEE MTLS PACE

CK POWER

PYLON ROBINS SEAFCO SPRC TASCO TMT TRUE TVO

PYLON

Stock

Company name

Stock

Company name

Stock

Company name

BA BH BJCHI CBG ILINK LPH

BANGKOK AIRWAYS

MAKRO MODERN NOK SAPPE SAWAD SCI

SIAM MAKRO

SCN SIRI TKN TPCH TRT

SCAN INTER

THE BANGCHAK PETROLEUM BIG C SUPERCENTER BTS GROUP HOLDINGS CH. KARNCHANG CHAROEN POKPHAND FOODS CENTRAL PATTANA DELTA ELECTRONICS (THAILAND) DIAMOND ROOFING TILES TOTAL ACCESS COMMUNICATION ELECTRICITY GENERATING GFPT

HOME PRODUCT CENTER IRPC KASIKORNBANK KCE ELECTRONICS KIATNAKIN BANK KRUNG THAI BANK KRUNGTHAI CARD L.P.N. DEVELOPMENT MINOR INTERNATIONAL PTT PTT EXPLORATION AND PRODUCTION

QUALITY HOUSES RATCHABURI ELECTRICITY GENERATING HOLDING THE SIAM COMMERCIAL BANK THE SIAM CEMENT SUPALAI SINO-THAI ENGINEERING AND CONSTRUCTION SVI THANACHART CAPITAL TISCO FINANCIAL GROUP TMB BANK

Companies with Very Good CG Scoring

ADVANCED INFO SERVICE ANANDA DEVELOPMENT ASIAN PROPERTY DEVELOPMENT BANPU BANGKOK BANK BANGKOK DUSIT MEDICAL SERVICES BANGKOK EXPRESSWAY AND METRO CENTRAL PLAZA HOTEL CHULARAT HOSPITAL

DYNASTY CERAMIC THE ERAWAN GROUP SIAM GLOBAL HOUSE GLOW ENERGY GUNKUL ENGINEERING LAND AND HOUSES MALEE SAMPRAN

ROBINSON DEPARTMENT STORE SEAFCO STAR PETROLEUM REFINING TIPCO ASPHALT THAI METAL TRADE TRUE CORPORATION THAI VEGETABLE OIL

MUANGTHAI LEASING PACE DEVELOPMENT CORPORATION

Companies with Good CG Scoring

BUMRUNGRAD HOSPITAL BJC HEAVY INDUSTRIES CARABAO GROUP INTERLINK COMMUNICATION LADPRAO GENERAL HOSPITAL

MODERNFORM GROUP NOK AIRLINES SAPPE SRISAWAD POWER 1979

SANSIRI TAOKAENOI FOOD & MARKETING TPC POWER HOLDING TIRATHAI

SCI ELECTRIC

Companies classified Not in the three highest score groups Stock

Company name

Stock

Company name

Stock

Company name

BCH BCPG

BANGKOK CHAIN HOSPITAL

BPP CPALL

BANPU POWER

FN

FN FACTORY OUTLET

BCPG

CP ALL

Source: www.thai-iod.com Disclaimer: The disclosure of the survey result of the Thai Institute of Directors Association ("IOD") regarding corporate governance is made pursuant to the policy of the Office of the Securities and Exchange Commission. The survey of the IOD is based on the information of a company listed on the Stock Exchange of Thailand and the Market for Alternative Investment disclosed to the public and able to be accessed by a general public investor. The result, therefore, is from the perspective of a third party. It is not an assessment of operation and is not based on inside information. The survey result is as of the date appearing in the Corporate Governance Report of Thai Listed Companies. As a result, the survey result may be changed after that date or when there is any change to the relevant information. Nevertheless, KGI Securities (Thailand) Public Company Limited (KGI) does not confirm, verify, or certify the accuracy and completeness of such survey result.

Thailand

Anti-corruption Progress

Anti-corruption Progress Indicator Level 5: Extended Stock ADVANC ANAN BBL BCH BDMS BIGC CK DCC DELTA DRT EGCO GFPT

Company name ADVANCED INFO SERVICE ANANDA DEVELOPMENT BANGKOK BANK BANGKOK CHAIN HOSPITAL BANGKOK DUSIT MEDICAL SERVICES BIG C SUPERCENTER CH. KARNCHANG DYNASTY CERAMIC DELTA ELECTRONICS (THAILAND) DIAMOND ROOFING TILES ELECTRICITY GENERATING GFPT

Stock GLOBAL GPSC HMPRO IRPC KBANK KCE KKP KTB LPH PACE PTT PTTGC

Company name

Stock ERW GLOW GUNKUL ILINK KTC LH LPN MAKRO MALEE MINT MODERN NOK PTTEP PYLON

Company name

Stock MTLS SCI

Company name

Stock BPP BTS

Company name

SIAM GLOBAL HOUSE GLOBAL POWER SYNERGY HOME PRODUCT CENTER IRPC KASIKORNBANK KCE ELECTRONICS KIATNAKIN BANK KRUNG THAI BANK LADPRAO GENERAL HOSPITAL PACE DEVELOPMENT CORPORATION PTT

Stock Company name QUALITY HOUSES QH RATCH RATCHABURI ELECTRICITY GENERATING HOLDING ROBINS ROBINSON DEPARTMENT STORE THE SIAM CEMENT SCC SANSIRI SIRI SUPALAI SPALI SINO-THAI ENGINEERING AND CONSTRUCTION STEC THANACHART CAPITAL TCAP TISCO FINANCIAL GROUP TISCO THAI METAL TRADE TMT THAI OIL TOP

PTT GLOBAL CHEMICAL

Level 4: Certified Stock AAV AP BA BANPU BCP BH BJCHI CBG CENTEL CHG CKP CPF CPN DTAC

Company name ASIA AVIATION ASIAN PROPERTY DEVELOPMENT BANGKOK AIRWAYS BANPU THE BANGCHAK PETROLEUM BUMRUNGRAD HOSPITAL BJC HEAVY INDUSTRIES CARABAO GROUP CENTRAL PLAZA HOTEL CHULARAT HOSPITAL CK POWER CHAROEN POKPHAND FOODS CENTRAL PATTANA TOTAL ACCESS COMMUNICATION

THE ERAWAN GROUP GLOW ENERGY GUNKUL ENGINEERING INTERLINK COMMUNICATION KRUNGTHAI CARD LAND AND HOUSES L.P.N. DEVELOPMENT SIAM MAKRO MALEE SAMPRAN MINOR INTERNATIONAL MODERNFORM GROUP NOK AIRLINES

Stock SAPPE SAWAD SCB SCN SEAFCO SVI TASCO TKN TMB TRT TRUE TVO

Company name

Stock SPRC

Company name

Stock FN TPCH

Company name

SAPPE SRISAWAD POWER 1979 THE SIAM COMMERCIAL BANK SCAN INTER SEAFCO SVI TIPCO ASPHALT TAOKAENOI FOOD & MARKETING TMB BANK TIRATHAI TRUE CORPORATION THAI VEGETABLE OIL

PTT EXPLORATION AND PRODUCTION PYLON

Level 3: Established Stock BEM CPALL

Company name BANGKOK EXPRESSWAY AND METRO CP ALL

MUANGTHAI LEASING

STAR PETROLEUM REFINING

SCI ELECTRIC

No progress Stock AOT BCPG

Company name AIRPORTS OF THAILAND BCPG

BANPU POWER BTS GROUP HOLDINGS

FN FACTORY OUTLET TPC POWER HOLDING

Source: www.cgthailand.org Disclaimer: The disclosure of the Anti-Corruption Progress Indicators of a listed company on the Stock Exchange of Thailand, which is assessed by the relevant institution as disclosed by the Office of the Securities and Exchange Commission, is made in order to comply with the policy and sustainable development plan for the listed companies. The relevant institution made this assessment based on the information received from the listed company, as stipulated in the form for the assessment of Anti-corruption which refers to the Annual Registration Statement (Form 56-1), Annual Report (Form 56-2), or other relevant documents or reports of such listed company . The assessment result is therefore made from the perspective of a third party. It is not an assessment of operation and is not based on any inside information. Since this assessment is only the assessment result as of the date appearing in the assessment result, it may be changed after that date or when there is any change to the relevant information. Nevertheless, KGI Securities (Thailand) Public Company Limited (KGI) does not confirm, verify, or certify the accuracy and completeness of the assessment result.

(IRPC.BK/IRPC TB)*

Feb 14, 2018 - 2014. 2015. 2016. 2017. 2018F. 2019F. G ross profit. G ross m argin. Source: Com pany data, KG I Research. Figure 10: Com pany RO AA and RO AE ..... THAI OIL. Companies with Very Good CG Scoring. Stock. Company name. Stock. Company name. Stock. Company name. AAV. ASIA AVIATION. CKP.

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