Somboon Advance Technology Public Company Limited informed that, on 28 January 2022, the Company and Tron Energy Technology Co. Ltd. incorporated under Taiwan law, having high-tech system integration of electric and automation for future vehicles as its core expertise and main products and businesses including electric vehicle platform, battery pack, electrical system integration, automotive automatic system and etc., have entered into a joint venture agreement to import, develop, manufacture, assemble, distribute and provide automotive, transport and bus service, by focusing on automotive industry, automotive service industry and transportation system industry pursuant To Approve the Board of Directors' Meeting No. 1/2022 held on 27 January 2022.

The Meeting also resolved to disclose the matter after the negotiation of the terms and conditions of joint venture agreement has been completed by the parties. The joint venture company will be formed as a private limited liability company under the laws of Thailand. The further notification will be made by the Company when the joint venture company has been established.