Itthirit Nice Corporation Public Company Limited announced the resolution of the Board of Directors meeting held on May 12, 2023 regarding the establishment of a new subsidiary. Company Name: Alternative Nice Energy Company Limited. Date of Establishment: Within November 30, 2023.

Country of Registration: Thailand. Registered Capital: 5,000,000.00 baht. Value per Share: 5.00 baht.

Total Number of Shares: 1,000,000 shares. Shareholding Structure: ITTHI holds 99.99% of the total registered capital. Source of Funds: The Company's working capital.

Nature of Business: Production, distribution and service of electricity and all types of energy. Director: Mr.Trisith Akkrabunyapath and Mr.Thanaseth AkkrabunYapath. In this regard, the said transaction is not a connected transaction according to the announcement of the Capital Market Supervisory Board No.

TorChor. 21/2551 Re: Rules on Connected Transactions dated August 31, 2008 (and as amended) and the Notification of the Board of Directors of the Stock Exchange of Thailand Re: Disclosure of Information and Operations of Listed Companies on Connected Transactions dated 19 November 2003 (and any amendments).