Dividend Policy and Payment

DIVIDEND POLICY OF THE SUBSIDIARIES

The Company’s subsidiaries have a dividend payment policy of not less than 40% of their net profits based on separated financial statements after deducting corporate income tax, legal reserves (if any) and other Company’s reserve as stated each year. The dividend payment amount shall not exceed the retained earnings of the subsidiaries’ separated financial statements.

The dividend payment and dividend payout ratio are subject to change from the policy, depending on the operating result, financial positions, cash flow, working capital, future investment plans and business expansion as well as market conditions, debt obligations, conditions or restrictions imposed by financing agreements and other factors as deemed suitable. and appropriate by the Board of Directors of each subsidiary.