Ananda Development Public Company Limited informed that the Board of Directors' Meeting No. 11/2023 held on 20 November 2023 resolved to approve the establishment of new subsidiary company with the following detail: Name of the Subsidiary: ADC-JV 31 Co. Ltd. Objectives: To accommodate the real estate development project; Registered and Paid-up Capital: THB 100,000.

The establishment of the new subsidiary company is not connected transaction, but it is considered as asset acquisition.