Fortune Parts Industry Public Company Limited (FPI) announced the signing of a joint investment contract dated December 16, 2023 with FUEL AUTOPARTS CO. LTD., (FAC). The execution of the joint venture agreement was approved by the Board of Directors' Meeting held on November 14, 2023 to establish a joint venture company, which will be a subsidiary of the Company adding a company to conduct main business In manufacturing and distributing of automotive parts in Saudi Arabia and Middle Eastern countries.

Company Name: FPI AUTOPARTS SAUDI PVT LTD. Type of Business: Manufacture and distributor of automotive equipment and parts. Expected benefits to the Company: To expand the production base and expand customer groups in the Middle East zone to increase the opportunity to recognize the Company income in the future. Registered capital: SAR 3,000,000 or THB 28,011,600.

Shareholding Structure: Fortune Parts Industry Public Company Limited ("FPI") 80% and FUEL AUTOPARTS CO. LTD., ("FAC") 20%.