Message from Chairman

Dear Shareholders

The year 2025 marked another challenging period for the restaurant industry amid a volatile economic environment, high raw material and labor costs, and consumer purchasing power that has yet to fully recover, alongside rapidly shifting consumer behaviors. Nevertheless, Thailand’s restaurant market continues to demonstrate strong recovery potential, supported by domestic consumption, a rebounding tourism sector, and growing demand for value, quality, and unique dining experiences.

Amid these circumstances, 2025 became a year of strategic adaptation and strengthened resilience across all dimensions of our business. The Company has placed great emphasis on effective cost management and the continuous development of store formats and menus to better meet the diverse needs of various consumer segments. We have also accelerated the integration of digital technology to enhance operational efficiency across branch management, supply chains, and customer engagement. These efforts aim to maintain our competitive edge and ensure sustainable growth despite the current market contraints.

Furthermore, in 2025, the Company achieved significant developments that will serve as key drivers for long-term business growth as follows:

• • The launch of the new brand "Bonus Suki", a buffet-style suki restaurant offering over 60 menu items, including a variety of meats, appetizers, and beverages at an affordable price point to cater to a broad consumer base. In 2025, the Company successfully opened a total of 15 new branches under this brand.
• • The launch of MK “Koom Gern Koom” buffet promotion, featuring over 29 items at a price of Baht 299 to target value-conscious customers. This campaign received an excellent response and significantly strengthened the brand’s market position.

The financial performance of the Company for the year 2025 may be summarized as follows: the Company’s revenue from sales and services was Baht 15,109 million, a decrease of 2.0 percent from the previous year. The net income for the year 2025 was Baht 838 million, a decline of 41.9 percent from the previous year. As a result, the earnings per share decreased from Baht 1.57 per share in 2024 to Baht 0.93 per share in 2025.

For the year 2025, in order to sustain its long-term growth, the Company continued to expand its restaurant branch network by opening 24 new restaurant outlets consisting of 2 MK restaurants, 2 Yayoi Japanese restaurants, 15 Bonus Suki restaurants, 3 Laem Charoen Seafood restaurants, 1 Hikiniku To Come restaurant and 1 Multi brand restaurant.

Although 2025 earnings were impacted by external economic pressures leading to a decrease in net profit, the Company still maintains a robust liquidity position. The Board of Directors has therefore resolved to propose to the Annual General Meeting of Shareholders in 2026 for approval of the annual dividend payment for 2025 at the rate of Bath 1.00 per share (Y2024: Baht 1.50 per share). As an interim dividend of Baht 0.50 per share was already paid to shareholders, the final dividend of Baht 0.50 per share, subject to the approval of shareholders at the 2026 Annual General Meeting, will be paid to shareholders who are entitled to receive dividends on May 26, 2026

Looking ahead to 2026, the restaurant industry is expected to face intensifying challenges, including a slowdown in Thailand’s economic growth (GDP) and fragile consumer purchasing power driven by high household debt which has led to more cautious spending and a stronger focus on value. In addition, intensified competition and rising operating costs, particularly for raw materials and labor, continue to pressure business operations. Nevertheless, the Company believes that the restaurant sector still presents meaningful growth opportunities, especially for well-established chains with strong financial foundations, resilient brands, and the ability to consistently maintain high standards of food quality and service to earn consumer trust. Companies that can effectively adapt to key consumer trends such as health consciousness, convenience, and value orientation, while implementing efficient cost management and leveraging innovation and artificial intelligence (AI) technologies to enhance operational efficiency, will be well-positioned for future success. Beyond these external factors, the Company is supported by a highly capable and experienced management team whose strong commitment and sense of responsibility play a vital role in driving the organization toward its strategic goals. With these strengths, the Company is confident in its ability to navigate these increasing challenges and continue delivering stable and sustainable growth for the future.

In addition, the Company remains dedicated to conducting its business in accordance with the principles of good corporate governance, alongside sustainable development and the fair treatment of all stakeholders to ensure stable and balanced long-term growth.

Lastly, on behalf of the Board of Directors, I would like to express my sincere gratitude to our shareholders, customers, business partners, and all employees for their continued trust and support. The Company remains committed to driving continuous growth and creating sustainable value for our shareholders and society.