Minor International Public : Insertion of Report of the IFA's Opinion on the Acquisition of Assets

(Translation version)

Additional disclosure with regard to the Independent Financial Advisor's Opinion Report on the Acquisition of Assets of Minor International Public Company Limited Additional information in underlined and the deleted information in strikethrough

1. Revised Page 17 Section 2.3 The Parties Involved and the relationship with the Company Original

The Acquisition Transaction

The Purchaser The Seller

MHG Continental Holding (Singapore) Pte. Ltd.1/ Tangla Spain, S.L.U. (the"Seller")

Relationship

To the knowledge of the Company, the shareholders of the Target Company are not connected persons of the Company pursuant to the Notification of the Capital Market Supervisory Board No. ThorJor. 21/2551 Re: Rules on Connected Transactions dated 31 August 2008 (as amended) and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure and Other Acts of Listed Companies on Connected Transactions, B.E. 2546 dated 19 November 2003 (as amended) (the "Rules on Connected Transactions"), and the Bid Transaction is not a connected transaction under the Rules on Connected Transactions.

Revision

The Acquisition Transaction

The Purchaser

The Seller

MHG Continental Holding (Singapore) Pte. Ltd.1/ Tangla Spain, S.L.U. (the"Seller")

Relationship

The Acquisition Transaction is a general process. To the knowledge of the Company, the shareholders of the Target Company are not connected persons of the Company pursuant to the Notification of the Capital Market Supervisory Board No. ThorJor. 21/2551 Re: Rules on Connected Transactions dated 31 August 2008 (as amended) and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure and Other Acts of Listed Companies on Connected Transactions, B.E. 2546 dated 19 November 2003 (as amended) (the "Rules on Connected Transactions"), and the Bid Transaction is not a connected transaction under the Rules on Connected Transactions.

2. Revised Page 78 Appendix Section 5.1.6 Summary of historical financial performances of NHH Original

Financial Position

1) Asset

As of 2017, NHH's total assets were Euro 2,471.7 m decreased from Euro 2,710.9 m at the end of 2015 with CAGR of 4.5% during 2015 - 2017. The decrease was mainly due to asset disposal.

As of 31 March 2018, NHH's total assets were Euro 2,549.2 m which mostly consisting of plant, property, and equipment that was Euro 1,573.6 m.

2) Liabilities

As of 2017, NHH's total liabilities was Euro 1,319.7 m increased from Euro 1,584.8 m at the end of 2015 with compound annual decline rate during 2015 - 2017 of 8.7% . The decrease was mainly due to long term debt repayment including debt instrument repayment

As of 31 March 2018, the Company's total liabilities were Euro 1,368.1 m which is mostly long-term bond with the amount of Euro 462.8 m.

Revision

Financial Position

1) Asset

As of 2017, NHH's total assets were Euro 2,471.7 m decreased from Euro 2,710.9 m at the end of 2015 with CAGR Compound annual decline rate of 4.5% during 2015 - 2017. The decrease was mainly due to asset disposal.

As of 31 March 2018, NHH's total assets were Euro 2,549.2 m which mostly consisting of plant, property, and equipment that was Euro 1,573.6 m.

2) Liabilities

As of 2017, NHH's total liabilities was Euro 1,319.7 m increased decreased from Euro 1,584.8 m at the end of 2015 with compound annual decline rate during 2015 - 2017 of 8.7%. The decrease was mainly due to long term debt repayment including debt instrument repayment

As of 31 March 2018, the Company's total liabilities were Euro 1,368.1 m which is mostly long-term bond with the amount of Euro 462.8 m.

3. Revised Page 101 Appendix Section 5.2.5 Summary of historical financial performances of the Company

Original

Financial Position

3) Net Profit

Net profit in 2015 - 2017 were THB 7,040.2 m, THB 6,590.0 m and THB 5,414.4 m respectively accounting for 15.1%. 11.7% and 9.4% of net profit margin respectively or a CAGR during 2015 - 2017 of 12.1% and average net profit margin of 12.3% from total revenues. These were due to a temporary slowdown and postponement of the economic activities during the mourning period and flooding in the South of Thailand. Other factors for such decrease include higher depreciation and tax of the newly acquired businesses, which was consolidated into the financial statements, and no real estate project sales. In the first quarter of 2018, the Company has net profit of THB 1,765.5 m or net profit margin of 11.1%.

Revision

Financial Position

3) Net Profit

Net profit in 2015 - 2017 were THB 7,040.2 m, THB 6,590.0 m and THB 5,414.4 m respectively accounting for 15.1%. 11.7% and 9.4% of net profit margin respectively or a CAGR Compound annual decline rate during 2015 - 2017 of 12.1% 12.3% and average net profit margin of 12.3% 12.1% from total revenues. These were due to a temporary slowdown and postponement of the economic activities during the mourning period and flooding in the South of Thailand. Other factors for such decrease include higher depreciation and tax of the newly acquired businesses, which was consolidated into the financial statements, and no real estate project sales. In the first quarter of 2018, the Company has net profit of THB 1,765.5 m or net profit margin of 11.1%.