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The information contained in this presentation is for information purposes only. • This presentation contains forward looking statements which reflect Management’s current views and estimates. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Prospective investors should be careful with respect to such statements and should not place undue reliance on any such forward-looking statements. • The information in this presentation has not been independently verified. None of the Company, any of its affiliates or representatives, shall have any for any loss or damage howsoever arising from any use of this presentation or its contents in connection with this presentation. The information in this presentation is current as of the date hereof and is subject to change without notice and its accuracy is not guaranteed. • No part of this presentation shall be relied upon directly or indirectly for any investment decision - making or for any other purposes. Prospective investors should undertake their own assessment. • This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws.

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Vibhavadi Medical Center (VIBHA) was listed on SET (Stock Exchange of Thailand) in 1992. Vibhavadi started as a stand-alone hospital of 100 beds in 1986. With steady growth, Vibhavadi now expands to serve patients with more than 250 beds and not only limited to only one hospital, Vibhavadi has also invested in many hospitals within Thailand such as Chiang Mai Ram Medical Business public company limited(CMR), Sikarin public company limited (SKR), Vibharam Hospital, etc. and will continue to expand further into medical-related business.

Total of 17 Operating Hospitals that VIBHA has invested in*: • Vibhavadi Hospital • Vibharam Hospital CMR,Lanna, Theppanya • Vibharam Pakkred Hospital Haripoonchai • Vibharam Chaiprakarn Hospital Khelangnakorni • Vibharam Amata Hospital • Vibharam Laemchabang Hospital • Vibharam Nawamin Hospital Pawor • Vibharam Samusakorn Hospital • PathePunya Hospital • Seriruk Hospital • Lanna Hospital • Chiangmai Ram Hospital Vibharam • Haripoonchai Hospital Pakkred Chaiprakarn • Theppanya Hospital PathePunya Seriruk • Changpuek Hospital Sikarin Chaopraya Vibhavadi • Khelangnakorn Hospital • Pawor Hospital Amata Laemchabangi *only include subsidiary and associated companies, as of 2016

VIBHA 40.75% 10% 10% 7.69% 9.8% 83.75% VIBHA Synphae Sikarin Serirak Chaopraya CMR (Lanna t Hospital RAM Hospital Hospital Hospital) (SKR) Hospital PathePunya 50% Hospital 4.43% Vibharam 50% Pakkred Hospital 20% Serirak Hospital Nawanakorn Vibharam Chaiprakarn 55% Hospital 86.75% 17.30% 56.37% Hospital Rajthanee Rojna Hospital Chiangmai Haripoonch Vibharam Ram Vibharam Amata ai 100% 73% LaemChabang Hospital Hospital Hospital Hospital 100% Vibharam 33.92% 100% Theppanya & Samutsakor KhelangNakorn Vibharam 100% ChangPeuk n Hospital* Hospital Nawamin Hospital Hospital* Thanyawetch 50% Hospital** Vibharam Rayong Pawor 100% 50% Hospital** Hospital 50% Vibharam Thonburi Hospital** 50% Pathomwetch Hospital** 40% VS medical** Vibharam 30% Theparak** www.vibhavadi.com

20.36 35.80 11.91 8.11 6.84 5.90 0.54 4.14 0.56 0.56 0.65 0.93 2.26 1.44 * as of 2015

5526.26 6000 Princeton 5015.26 Park Suites 5000 4606.88 2.16% 4039.4 Vibha 4000 million 36.94% 3000 CMR 60.90% 2000 1000 0 2015 2012 2013 2014 2015 • www.vibhavadi.com

1.18 5.79 900 736.65 25.92 VibhaRam 596.11 600 546.18 million CMR 0.38 391.54 Tippayabodin 67.90 Vibha 300 135.08 Princeton 0 2015 2011 2012 2013 2014 2015 1,800 • 1,598.09 1,600 • 1,257.47 1,361.50 1,400 1,200 967.66 1,000 800 600 28.92% 27.30% 27.15% 23.96% 400 200 - 2012 2013 2014 2015

2012 2013 2014 2015 2012 2013 2014 2015 2012 2013 2014 2015 www.vibhavadi.com

• VIBHA has about 5.21 % market share in Bangkok and vicinity area • VIBHA has about19.4% market share in Northern Thailand • In total VIBHA has about 6.2% market share in Thailand *Source : service.nso.go.th/nso/nsopublish/themes/files/hospitalfullreport55.pdf **Information as of 2012 ***Market share count by number of beds

500 460.97 2.17% 0.07% 450 1.22% 392.8 400 5.77% SKR 332.2 350 315.99 Synphaet 300 million 13.71% 250 Chaopraya 200 Innovation 150 0.17% VibhaRam 100 20..46% 30.88% 18.66% 18.20% 17.24% 1.67 CMR 50 TBD 0 2012 2013 2014 2015 Vibha 2015 • • www.vibhavadi.com

530 524,588 OPD 525 46 520 54 506,040 515 499,784 497,168 510 505 2014 500 495 490 foreign patient IPD 46 485 54 1.89% 1.87% 1.71% 480 1.65% 2012 2013 2014 2015 2015 300 250 250 230 230 250 200 0.15% Self pay 60.22% 59.68% 64.12% 61.37% 150 45.84% Insurance 54.01% 100 Others 50 0 2012 2013 2014 2015 www.vibhavadi.com 2014 2.52 day/bed 2.42 day/bed 2.40 day/bed

CMR (Lanna Hospital) 180 beds 56.37% 86.75% Chiangmai Ram Haripoonchai Hospital (220 beds) Hospital (100 beds) 100% 33.92% KhelangNakorn Theppanya & ChangPuek Hospital Hospital (109&61 beds) (103 beds) 50% Pawor Hospital • • (100 beds) • •

1,400 1.300,235 1000 1,268,417 912 912 873 873 1,200 1,072,615 1,044,364 800 1,000 63.50% 600 800 59.11% 54.93% 50.44% 600 400 400 200 200 0 0 2012 2013 2014 2015 2012 2013 2014 2015 2.83 day/bed 2.76 day/bed 2.70 day/bed • 1.87 26.55 28.36 • 43.22 2015

3345.96 3500 2958.84 3000 2703.29 ChiangmaiRam 2288.28 2500 Haripoonchai 36.70 million 44.81 Theppunya 2000 Changpuek 1500 Lanna 1000 3.08 7.33 9.62 500 0 2015 2012 2013 2014 2015 •

EBITDA Net Profit 600 1,200 million 500.79 996.98 500 1,000 815.61 386.92 788.58 367.05 400 million 800 300 546.42 600 206.57 200 14.97% 13.58% 400 13.08% 9.02% 100 200 29.8% 29.17% 27.57% 23.88% 0 - 2012 2013 2014 2015 2012 2013 2014 2015 • 0.13 1.97 Lanna Haripoonchai 31.36 Theppunya 43.15 ChiangmaiRam Khelangnakorn 13.99 Pawor 9.40 2015

ChiangmaiRam Lanna Changpuek Theppunya Khelangnakorn Pawor Haripoonchai

VIBHA RAM (200 beds) PathePunya Hospital (100 beds) 50% Vibharam Pakkred 50% Hospital (200 beds) Rajthanee Rojna Hospital 17.30% • Serirak Hospital Vibharam Chaiprakarn 20% 55% (200 beds) Hospital(100 beds) • Vibharam LaemChabang Vibharam Amata 73% Hospital 100% Hospital (200 beds) • (200 beds) Vibharam Samutsakorn • Vibharam Hospital* 100% Nawamin Hospital* 100% (200 beds) (58 beds) • VibharamThanyawetch Vibharam Theparak** Hospital** 50% (200 beds) 30% (200 beds) • Vibharam Rayong Vibharam Thonburi 50% • Hospital** Hospital** 100% (200 beds) • Pathomwetch Hospital** VS medical** 40% 50% (200 beds)

1,600 810 854 900 1,402,081 1,400 800 1,178,797 700 1,200 610 600 80.16% 1,000 510 893,245 500 742,699 800 75.95% 400 600 300 81.97% 400 200 84.71% 200 100 0 0 2012 2013 2014 2015 2012 2013 2014 2015 3.37 day/bed 3.32day/bed 3.37day/bed 3.47day/bed • 21.29 25.44 • 19.71 • 33.56 2015

3500 3000 2.84 2,685.74 Vibharam 5.62 2500 11.21 Laemchabang 2,267.24 million 2000 Pathepunya 1,714.04 54.26 Pakkred 18.22 1,455.19 1500 Amata 1000 Chaiprakarn 7.86 500 0 2015 2012 2013 2014 2015 •

Net Profit EBITDA 150.89 160 600.00 million 140 504.99 500.00 118.05 120 396.64 400.00 100 74.81 80 300.00 257.99 60 200.00 6.66% 4.2 40 4.37% 18.67% 125.27 17.33% 4.36% 15.05% 100.00 20 0.29% 0 8.6% - 2012 2013 2014 2015 2012 2013 2014 2015 • 0.27 5.71 5.54 • Vibharam Pathepunya • Laemchabang • Seriruk 88.47 2015

• 2 Rai 2 ngarn 84 sq. wa land purchased for future development • 17,000-18,000 sq.m. building

• Lanna Hospital opens new 15,000 sq.m. building since September 2015 • Increase in OPD capacity by 500 patient/day • Increase in IPD rooms by 60 rooms • ChiangmaiRam • Purchased 7 Rai piece of land on Chotana Road, opposite Suanluang Rama 9 for expansion • open new 20,000 sq.m. building for OPD and Food center on 11 rai piece of land locates 50 metre from ChiangmaiRam hospital • Haripoonchai • New 15,000 sq.m. building under process to be operating in 2018.

Vibharam Amata to start servicing Social Security patient. Total number of quota for 2016 is 50,000

Vibharam Samutsakorn Hospital 200 bed hospital will be open in March 2016 Target Customer: Social Security patient Myanmar Labor Fee for Service Patient

Purchase 35 Rai of land and buildings in Nakornsawan to renovate to be a hospital. Expect to have around 100-150 beds. Locates next to Transportation co., ltd.