Submission of F/S and Explanation for Profit Change

Translation 13 May 2010 Subject : Submission of Financial Statements for the quarter 1/2010 To : Director and Manager Stock Exchange of Thailand Enclosed please find the Interim Consolidated and Company Financial Statements of Siam Makro Public Company Limited for the first quarter ended March 31, 2010 which have been reviewed by the certified public accountant. Revenues In the first quarter of 2010, the Company managed to achieve Baht 21,479 million consolidated revenues which rose by 15.9% from the same period last year. The growth was mainly contributed by Makro sales growth on same store basis, additional sales from 3 new stores opened during middle of last year and new store (store 45 Kamphangphet) opened in this quarter including service income and other income increased by 8.8% and 11% respectively. Gross Margin Gross profit in the 1st quarter increased significantly by 44.7%. Percentagewise it was increased from 5.8% in 2009 to 7.2% in this quarter. This was a result of product and assortment development with focus on assortment for professional customers coupled with effective shrinkage control and reduction in aging inventory. Selling and Administrative Expenses Consolidated selling and administrative expenses were Baht 1,342 million, equivalent to 6.2% of total revenue and increased by 22% YOY due to increase in expenses of new stores opened since middle of 2009, pre-operating costs of stores under construction and increased personnel costs. Financial costs decreased 27.3% from the same quarter last year because of lower borrowing and interest rate. Net Profit Consolidated net profit after tax was Baht 472 million, an increase of 58.9% over same quarter last year due mainly to a result of higher sales and better margin as above mentioned. Please be informed accordingly. Yours faithfully, Siam Makro Public Company Limited Signature (Mrs. Saowaluck Thithapant) Director and Finance Director