Kiang Huat Sea Gull Trading Frozen Food Public Company Limited announced that at the board of directors' meeting no. 2/2022 on May 17, 2022, it was resolved by the investment approval of the cold storage room project on the factory premises at Namom Sub- District, Namom District, Songkhla. The project budget will be 400 million baht including the following items; Building i.e. Factory structure of 172.20 million baht, Cold room system and machines of 227.80 million baht.

This investment is to support the expansion of sales growth following the Company' s business plan and to increase the storage room capacity to meet market's demand. . The Company expects to start the construction by Quarter 4 of 2022.

The size of the transaction is calculated based on the value of the consideration and equals to 29. 65%, which is considered as an act of acquisition of asset under the Notification of the Capital Market Supervisory Board no. TorChor.

20/2008 Re: Rules for Significant Transactions Qualified as Acquisition or Disposition of Assets dated August 31, 2008, and the Notification of the Board of Governors of the Stock Exchange of Thailand Re: Disclosure of Information and Acts of Listed Companies Concerning the Acquisition or Disposition of Assets B.E. 2004 (as amended), which must be submitted to the Board of directors for approval,notified to the Stock Exchange of Thailand, notified the shareholders via a letter within 21 days from the date of disclosure of the transaction to the SET with details of the calculation of the transaction size as follows. The transaction size value is 400 million baht. The amount of total assets of the Company on December 31, 2022 is 1,349.

17 million baht. The criteria used for calculating the size of the transaction are based on the total value of consideration. The Company will pay the purchase price of constructions, machinery, and equipment on estimated value cost 400 million baht after signing the purchase/procurement contract as specified in the contract.