Message from Chairman

Dear Shareholders

In the past year of 2024, the Thai economy grew by 2.5%, which is higher than the previous year's growth of 2.0%. The main supporting factors were the strong expansion of the export sector and the continuous recovery of the tourism sector, driven by government measures to stimulate tourism.

However, the Company still faces challenges from increased competition and constantly changing consumer behavior, along with a slow recovery in consumer purchasing power and rising business costs. To cope with these challenges, the Company has adjusted its marketing strategy by continuously launching marketing activities and developing new menu items to attract customers. Additionally, the Company has focused on controlling key costs and expenses, such as purchasing raw materials in quantities that allow for reasonable pricing, optimizing staffing levels at branch locations, utilizing technology to enhance operational efficiency, and adjusting the menu items and restaurant layout to suit the different customer groups and business environments in each area, etc.

Additionally, in 2024, there were significant changes that will impact the Company's long-term business growth as follows:

• • The launch of the new brand "Hikiniku To Come," a famous hamburger restaurant from Japan, under the concept "Just ground, Just grilled, Just cooked in every bite" with the first branch opened at CentralWorld shopping mall.
• • The release of the product "MK Sukiyaki Meatball Set" for sale at convenience stores, creating an additional distribution channel. The Company has also been continuously developing new products to offer more options to customers in the future.

The financial performance of the Company for the year 2024 may be summarized as follows: the Company’s revenue from sales and services was Baht 15,418 million, a decrease of 7.5 percent from the previous year. The net income for the year 2024 was Baht 1,442 million, a decline of 14.3 percent from the previous year. As a result, the earnings per share decreased from Baht 1.83 per share in 2023 to Baht 1.57 per share in 2024.

For the year 2024, in order to sustain its long-term growth, the Company continued to expand its restaurant branch network by opening 21 new restaurant outlets consisting of 8 MK restaurants, 5 Yayoi Japanese restaurants, 6 Laem Charoen Seafood restaurants, 1 Hikiniku To Come restaurant and 1 Multi brand restaurant.

For the performance in 2024, although the Company's net profit has decreased, the Company still maintains a high level of liquidity. The Board of Directors has therefore resolved to propose to the Annual General Meeting of Shareholders in 2025 for approval of the annual dividend payment for 2024 at the rate of Baht 1.50 per share (Y2023: Baht 1.60 per share). As an interim dividend of Baht 0.50 per share was already paid to shareholders, the final dividend of Baht 1.00 per share, subject to the approval of shareholders at the 2025 Annual General Meeting, will be paid to shareholders who are entitled to receive dividends on May 22, 2025.

For the business outlook in 2025, it is expected that the overall economy will grow more than the previous year, with the tourism sector continuing to be a key factor in the growth of the Thai economy. However, the Thai economy still faces challenges from global economic uncertainties, particularly trade protection measures, which will significantly impact the export sector. There are also domestic issues, such as high household debt, which could hinder a full recovery. Additionally, in the restaurant business, competition is rising due to new entrants, and the rapidly changing consumer behavior and demand for new dining experiences mean the Company must continuously adjust its strategies to address factors that may affect its performance. This includes integrating AI technology innovations to improve operational efficiency. The Company expects to overcome these challenges, deliver healthy food and excellent service to customers, and achieve better performance in 2025.

Lastly, on behalf of the Board of Directors, I would like to thank our shareholders, employees, suppliers, customers and all other relevant parties for their continued support and trust.