Supporting Information for Agenda 4 : To consider and approve the appropriation of profit for dividend payment

Attachment 4

Supporting Information for Agenda 4 : To consider and approve the appropriation of profit for dividend payment

1. The Public Companies Act B.E. 2535(1992), Section 116 and Article 37 of the Articles of Association specifies that the Company must appropriate to a reserve fund, from the annual net profit at least five percent of the annual net profit less the total accumulated losses brought forward (if any) until the reserve fund reaches an amount not less than 10 percent of the registered capital of the Company.
   Furthermore, Article 36 of the Company's Articles of Association prohibits the dividend payment from any money other than profit should the Company still have accumulated losses, whereby dividends shall be equally distributed according to the number of shares and subject to the approval of the shareholders' meeting.
2. In 2023, the Company's unappropriated retained earnings are as follows:

Unappropriated retained earnings brought forward as	Baht	8,246,983,467
at January 1, 2023
Less	: Dividend for the annual dividend payment of 2022	Baht	(1,834,200,000)
	(Baht 0.12 per share for 15,285 million shares)
Unappropriated retained earnings	Baht	6,412,783,467
Plus	: Net profit of 2023 (separate financial statements)	Baht	3,328,357,342
	Adjustment of profit through statement of	Baht	177,259,225
	comprehensive income
Unappropriated retained earnings as at December 31, 2023	Baht	9,918,400,034

3. Dividend History and Policy

The Company has a policy on dividend payment of not less than 40 percent of the net profit of each year, by taking into account the operational results, financial structure, and burdens of finance, investment, and continuity of dividend payment to its shareholders, which shall still have a cash reserve to continuously accommodate its expansion and investment in business projects.

The Company's previous dividend payment was as follows:

Dividend	Dividend	Dividend	Net Profit	Percentage of Dividend per
Payment from	Paid	per share	(Million Baht)	Net Profit
Operations	(Million	(Baht)
Separate	Consolidated	Separate	Consolidated
	Baht)		Financial	Financial	Financial	Financial
			Statements	Statements	Statements	Statements
2019
- First half year period	917	0.06	1,626	3,977
- Second half year period	1,376	0.09	1,298	1,458
2019	2,293	0.15	2,924	5,435	79%	42%
2020	1,529	0.10	1,698	2,051	90%	75%
2021	1,223	0.08	772	1,010	158%	121%
2022	1,834	0.12	2,313	2,436	79%	75%
2023 (1)	2,140	0.14	3,328	3,479	64%	62%

Remark: (1) To be proposed for shareholders' consideration in the 2024 Annual Ordinary General Meeting of Shareholders on April 10, 2024.

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4. Having considered the financial statements of the Company, the Board of Directors was of the opinion that in 2023, the Company had the net profit under the separate financial statements in the amount of Baht 3,328,357,342, and then deemed it appropriate to propose that the Shareholders' Meeting approve the appropriation of profit for dividend payment for 2023 would be paid at the rate of Baht 0.14 per share, amounting to Baht 2,140 million, in accordance with the Company's policy on dividend payment. The dividend payment would be made from;

• The profits in dividends or share of profits received from businesses subject to corporate income tax at a rate of 20 percent at the rate of Baht 0.028 per share, which individual shareholders would be entitled to tax credit equal to dividend multiplied by twenty-eightieth.
• The accounting profit that are not subject to corporate income tax at the rate of Baht 0.112 per share, which individual shareholders are not entitled to claim a tax credit.

Thus, the Record Date for the right to receive dividend payment was scheduled to be on March 13, 2024, and the dividend payment for the annual dividend payment of 2023 was scheduled to be made on May 3, 2024 in case the 2024 Annual Ordinary General Meeting of Shareholders grants approval for the dividend payment.

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