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BUSINESS OPERATION AND OPERATING RESULTS CORPORATE GOVERNANCE FINANCIAL STATEMENTS ENCLOSURES

For long term, the Company’s revenue from industrial estates sales and rental may be impacted if the countries that
the Company has invested and developed projects announce and apply stricter environmental laws and regulations,

which make the factory operators have to be responsible for higher manufacturing costs of products and services,
that they may consider to relocate their production base to other country which has laws and regulation suitable with
their manufacturing of products and services. As the investors will take framework of law of the interested countries
into consideration for investment planning, so those countries may have lesser attractiveness and competitive potential
on making decision to invest there.

Risk Management

The Company assigned its legal department to closely monitor the changes in laws and regulations of the countries
that the Company has developed its projects. In addition, the international standard on environment, i.e., ISO 14001:
2015, has been implemented with new projects in Vietnam, Myanmar and Lao, so that environmental management can
be performed systemically and covered environmental operations in all aspects to directly reduce negative impacts to
society and environment of the stakeholders.

The Company monitored, collected data and environmental information, studied changes of demand for utilities

and industrial services of the factory operators who are operating businesses in the industrial estates presently, and
improved both quality and efficiency of its utilities and industrial services continually to support the customers’ demand
and for conformity to the changing tendency of environmental laws and regulations in the future.

Risk from Communities Resistance

Risk from Communities Resistance

Two Amata industrial estates in Thailand have areas more than 70 square kilometers, in 3 provinces, i.e., Chonburi,
Chachoengsao and Rayong and covering 9 districts, 29 sub-districts, and 231 villages with more than 300,000 people
working in both industrial estates. Amata City Bien Hoa Industrial Estate, which is located in Dong Nai Province, Bien
Hoa City has more than 50,000 people working there.

The industrial estates are areas for operating manufacturing industrial activities which are foundation for the growth
of the country’s economy, but at the same time, the growth of industrial estates also brought about both positive and
negative impacts to society and local communities. Even though, the Company has strict management on social and
environmental impacts from its operations, but it may have indirect impacts to the surrounding local communities,

such as congestion of population, road accidents & congestion of traffic, expansion of urban areas, transmigration
of non-local labors, misconduct against laws and rules, the factory’s regulations of the operators, trade partners or
contractors. The Company opened opportunities to the local communities or the stakeholders to take part on managing
social and environmental impacts by providing channels to listen to the problems, expectations and recommendations
from the local communities and the stakeholder for improvement, i.e., complaint center and the committees and etc.

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