2015 was another milestone for Thai Beverage Public Company Limited (“ThaiBev”) as it marked the first year of our “Vision 2020” roadmap unveiled last year. Our goal is to be the region’s leading beverage company, and to generate sustainable returns for shareholders. ThaiBev aims to achieve all aspirational targets by building growth, diversification of markets and products, improvement and development of flagship brands, strengthening our distribution network, as well as enlivening the professionalism of all ThaiBev staff. To this end, ThaiBev has worked closely with Fraser and Neave, Limited (“F&N”) to jointly navigate the strategic paths laid out in our Vision 2020.Subsequent to the re-organization of the management structure to ensure alignment with the core product groups i.e. spirits, beer, and non-alcohol beverages and to enhance operations efficiency, ThaiBev experienced fruitful results as we ended 2015 with considerable growth in revenue and net profit. ThaiBev saw a 6.2 percent increase in total income, amounting to Baht 172,049 million, with a 5.5 percent increase in the net earnings from our operations, amounting to Baht 22,616 million. With Thailand’s economy on the path to full recovery,growth for 2015 met our forecasts and provided a solid platform on which ThaiBev can build on for the coming year. ThaiBev’s Board of Directors approved a dividend payout of Baht 0.61 per share, amounting to a total dividend payout of Baht 15,317 million, providing shareholders with a consistent level of dividend payment in absolute amount despite the challenging economic conditions.ThaiBev’s alcohol beverage business harnessed the longstanding and deep-seated success of the spirits business throughout 2015; and as a result, we were able to maintain momentum in terms of market share and revenue growth. 2015 witnessed a historical moment of our beer business as ThaiBev celebrated the 20th anniversary of Chang Beer with the launch of “Chang Classic” with a totally new look — the emerald green bottle. The product was welcomed by consumers and achieved a major breakthrough in both revenue and profit growth, reflecting the beginnings of a steady journey towards becoming the leader of the beer segment in ASEAN.In 2015, the non-alcoholic beverage business moved ahead in driving us towards becoming the region’s leading total beverage company. ThaiBev continue to invest in our non-alcoholic beverage portfolio. Also ThaiBev and F&N Group leveraged on the synergy in advanced production facilities and extensive distribution network in Thailand, Malaysia, and Singapore. In addition, we also expanded our presence in ASEAN through the launch of “Oishi Green Tea” and “est” in Malaysia and Singapore. We jointly benefited from the offices established in Myanmar and Vietnam, laying the foundation for future market penetration.I would like to take this opportunity to thank the Board of Directors, senior management team, and all our employees for their tireless devotion and hard work, which serves as the key driving force behind our commitment to be a stable and sustainable regional beverage company.On behalf of the Board of Directors and executives of ThaiBev, I would like to express our gratitude towards our shareholders, customers, and business partners for their trust and confidence in ThaiBev throughout the years; and look forward to your continued support in the future.

2015 was another milestone for Thai Beverage Public Company Limited (“ThaiBev”) as it marked the first year of our “Vision 2020” roadmap unveiled last year. Our goal is to be the region’s leading beverage company, and to generate sustainable returns for shareholders. ThaiBev aims to achieve all aspirational targets by building growth, diversification of markets and products, improvement and development of flagship brands, strengthening our distribution network, as well as enlivening the professionalism of all ThaiBev staff. To this end, ThaiBev has worked closely with Fraser and Neave, Limited (“F&N”) to jointly navigate the strategic paths laid out in our Vision 2020.Subsequent to the re-organization of the management structure to ensure alignment with the core product groups i.e. spirits, beer, and non-alcohol beverages and to enhance operations efficiency, ThaiBev experienced fruitful results as we ended 2015 with considerable growth in revenue and net profit. ThaiBev saw a 6.2 percent increase in total income, amounting to Baht 172,049 million, with a 5.5 percent increase in the net earnings from our operations, amounting to Baht 22,616 million. With Thailand’s economy on the path to full recovery,growth for 2015 met our forecasts and provided a solid platform on which ThaiBev can build on for the coming year. ThaiBev’s Board of Directors approved a dividend payout of Baht 0.61 per share, amounting to a total dividend payout of Baht 15,317 million, providing shareholders with a consistent level of dividend payment in absolute amount despite the challenging economic conditions.ThaiBev’s alcohol beverage business harnessed the longstanding and deep-seated success of the spirits business throughout 2015; and as a result, we were able to maintain momentum in terms of market share and revenue growth. 2015 witnessed a historical moment of our beer business as ThaiBev celebrated the 20th anniversary of Chang Beer with the launch of “Chang Classic” with a totally new look — the emerald green bottle. The product was welcomed by consumers and achieved a major breakthrough in both revenue and profit growth, reflecting the beginnings of a steady journey towards becoming the leader of the beer segment in ASEAN.In 2015, the non-alcoholic beverage business moved ahead in driving us towards becoming the region’s leading total beverage company. ThaiBev continue to invest in our non-alcoholic beverage portfolio. Also ThaiBev and F&N Group leveraged on the synergy in advanced production facilities and extensive distribution network in Thailand, Malaysia, and Singapore. In addition, we also expanded our presence in ASEAN through the launch of “Oishi Green Tea” and “est” in Malaysia and Singapore. We jointly benefited from the offices established in Myanmar and Vietnam, laying the foundation for future market penetration.I would like to take this opportunity to thank the Board of Directors, senior management team, and all our employees for their tireless devotion and hard work, which serves as the key driving force behind our commitment to be a stable and sustainable regional beverage company.On behalf of the Board of Directors and executives of ThaiBev, I would like to express our gratitude towards our shareholders, customers, and business partners for their trust and confidence in ThaiBev throughout the years; and look forward to your continued support in the future.