Press Release

King Power Group’s Acquires 39% stake in Thai AirAsia Mr. Tassapon will remain as CEO of Thai AirAsia, leading low cost carrier

King Power Group’s Chairman, Mr. Vichai Srivaddhanaprabha, together with his family, has purchased a 39% stake in Asia Aviation PCL ("AAV"), valued at around 7.945 billion Baht from Mr. Tassapon Bijleveld and his family. Mr. Vichai is hoping that the acquisition of shares in AAV – itself a major shareholder in Thai AirAsia co., Ltd. ("TAA") with 55% of the share capital in the Thai low-cost carrier – will have a positive synergy when partnering the airline business with King Power, currently the sole duty free operator in . It has been confirmed that Mr. Tassapon will remain as the CEO of AAV and TAA, and will continue to lead the airline’s current business plan and growth strategy. Mr. Vichai Srivaddhanaprabha, the Group Chairman of King Power Group, sees the acquisition of shares in AAV as a long term investment for both himself and his family. He believes that with his business background and King Power’s experience and expertise in the tourism industry, he and his team will be able to provide valuable contributions to the airline business. His view is that TAA and King Power will greatly complement each other, providing cutting edge services and products above anything offered by other players in the sector. This will accelerate the growth of TAA and ensure that it remains at the forefront of the low-cost carrier business. Under the new corporate control, Mr. Vichai will appoint Mr. Aiyawatt Srivaddhanaprabha, Mr. Apichet Srivaddhanaprabha, and Mr. Sombat Dechapanichkul as directors of AAV, with the tasks of identifying and planning the company’s visions and business strategies together with Mr. Tassapon and the management of TAA. It is expected that post-acquisition of the AAV shares from Mr. Tassapon and his family, in compliance with the Notification of the Capital Market Supervisory Board No. TorChor. 12/2554 regarding Rules, Conditions and Procedures for the Acquisition of Securities for Business Takeovers, Mr. Vichai will announce a mandatory tender offer for the remaining 60% of AAV's shares listed on the Stock Exchange of Thailand, at 4.20 baht per share, worth a total value of 12 billion Baht. Siam Commercial Bank will act as the financial advisor and a financial support for this Tender Offer while an

announcement of the intention to Make the Tender Offer (Form 247-3) has already been submitted on the morning of June 14th, 2016 to the Securities and Exchange Commission. Meanwhile the Tender offer for Securities (Form 247-4) is expected to be submitted to the Securities and Exchange Commission on June 23rd, 2016. Mr. Tassapon Bijleveld, Chief Executive Officer of Thai AirAsia said that his decision to sell his and his family's substantial interests in AAV at 4.20 baht per share – a price substantially lower than the current market price – came about as a result of laws and regulations that govern airline businesses in Thailand, where at least 51% of shares in an air operator must be held by Thai individuals. Given the restrictive nature of such rules, there are only a handful of Thai individuals who, realistically, would be interested in and could afford the purchase price of 7.945 billion Baht for 1.892 billion shares in AAV (calculated to be around 39% of total share capital of AAV). Mr. Tassapon, who previously held 44% of the shares in AAV, will continue to hold a 5% stake in AAV after the tender offer. The Chief Executive Officer is optimistic and sees a bright future for TAA, given the newly formed alliance with King Power Group, one of the key players in the tourism industry in Thailand. "Please rest assured that the management, myself included, will continue the good work at TAA as we have always done since day one when we pioneered the low-cost carrier market in Thailand 13 years ago. Fully dedicated and fully focused, TAA will continue to grow and invest as planned for in 2016, accepting delivery of 51 new aircraft which, together with our existing fleet, will fly our estimated 17 million passengers to various destinations across the region. We will also look to further expand our flight network within ASEAN, as well as routes to China and India, and with the support of Mr. Vichai's King Power Group we may well see the company's growth accelerated beyond what was originally anticipated." Mr. Tassapon further said that business tycoon Tony Fernandes, the founder of AirAsia, is aware of the acquisition of AAV shares by Mr. Vichai and is excited by the new prospects and business opportunities that the partnership forged between AirAsia and King Power Group will create, noting the financial muscle and stability of the Srivaddhanaprabha family and the fact that King Power Group is a well-established organization with a good global reputation, and a seasoned player in the region. With all of these factors taken into account, investors can expect to see healthy and sustainable long term growth from TAA. AirAsia Group CEO Tony Fernandes said, "This investment proves that Thai AirAsia's value proposition remains undiminished. The vote of confidence that comes from one of the most successful

family businesses is fantastic. The potential tie-ups between AirAsia and King Power, Thailand's sole duty-free operator, are massive and we look forward to working together, not only in Thailand but across the group and Asean." The CEO of King Power Group, Mr. Aiyawatt Srivaddhanaprabha, who will be appointed a director of both AAV and of TAA, said that King Power and TAA will continue to operate under stable and sustainable business plans and will cooperate to create new business opportunities, highlighting specifically the large customer bases in China and ASEAN, which are rapidly growing. With TAA's many scheduled flights connecting Thailand and China and it being the airline that carries the most passengers between the two countries, it is not difficult to see how an alliance with TAA will promote King Power's retail business in the Chinese market. TAA and King Power will team up to develop their brands, products and services together, with the aim of providing customers with international-quality shopping and travel experiences at affordable prices.