Star Universal Network : Progress report on remedial action to qualify to resume trading (Resume Stage)

STAR SITTHI SOLUTION PUBLIC COMPANY LIMITED.

486 People Park Community Mall, E2 Building, 3rd floor, Room no. 302, Onnut Rd., Onnut, Suan Luang, Bangkok, 10250, Thailand. Tax ID.0107548000242 http://www.starsitthisolution.com

EC 016/2565

19th August 2565

Subject: Progress report on remedial action to qualify to resume trading (Resume Stage)

To:	Director and Manager
	Stock Exchange of Thailand

According to Star Sitthi Solution Public Company Limited ("the Company") is in the process of resolving the grounds of delisting. and is in the process of qualifying to resume trading (Resume Stage).

1. Resolve the issue that the auditor did not express an opinion on the financial statements.
2. Special Audit Progress
3. characteristics and current business status of the company.

1. The auditor did not express an opinion on the financial statements.
   Star Sitthi Solution Public Company Limited has submitted the financial statements for the year 2021 which

have been audited by a certified public accountant to the Stock Exchange of Thailand. The auditor did not express an opinion because: (1.1) The auditor found factors that are indicative of a suspicious circumstance that the director, manager, or person responsible for the company's operations has committed an offence under the provisions of the Securities and Exchange Commission Law Section 8 9 / 2 5 of the Securities and Exchange Act B.E. 2 5 3 5 and reported it to the Audit Committee to know and carry out additional audits and report the results of the audit to the auditor and the Securities and Exchange Commission (SEC) with the factor being investigated. And (1.2), the company has not recorded any interest in investments in 2 associated companies because the company has not received the financial statements. The financial statements have been audited by the auditors of the associated company. The company has the following solutions:

1. On June 16, 2022, the company sold the entire investment in an associated company in Australia. The total amount of 69 million baht was paid, resulting in such a company being retired from being an associated company.
2. At present, the company and Sitthi International Company Limited ("STI") are still doing business together.

However, the bank guarantee that the company must receive from STI for the year 2 0 2 2 in the value of 91.41 million baht is currently being operated by Phongsavanh Bank and Bangkok Bank Co., Ltd.

1. Special Audit Progress
   The company has hired Grant Thornton Company Limited (Grant) to conduct a special audit, which is in

the process of reviewing the aforementioned issues. Grant has audited on June 20-24, 2022 and July 11-15, 2022. As the Annual General Meeting of Shareholders for the year 2022 also approved the appointment of Grant to be the auditor of the Company's 2022 financial statements, Grant has to pay attention to reviewing the first and second

STAR SITTHI SOLUTION PUBLIC COMPANY LIMITED.

486 People Park Community Mall, E2 Building, 3rd floor, Room no. 302, Onnut Rd., Onnut, Suan Luang, Bangkok, 10250, Thailand. Tax ID.0107548000242 http://www.starsitthisolution.com

quarter financial statements to be able to prepare and deliver on time according to the relevant requirements first. In coordination with Grant, it was learned that the conclusion of the special audit is expected by the third quarter of 2022.

3. Characteristics and current business status of the Company

The company has guidelines for doing business. There is an action plan to provide service, design, distribution and installation of power generation systems from renewable energy. It provides services in the form of Engineering Procurement and Construction (EPC), in the form of a turn-key project, including the form of a power generation system to connect to an on-grid system and a power generation system and the form of Off-grid System, which will produce electricity to supply to the equipment in the employer's electricity system. Currently, the company personnel and related assets have been prepared. However, the company started business in the said segment by starting to recognize income from the 3rd quarter of 2 0 2 2 onwards, including preparing for more jobs for both the public and private sectors. In addition, the company i s still under study on other companies' investments that can be profitable and the company can manage risk from investments. The company has set up the Risk and Investment Management Committee to help determine investment guidelines, strategies and goals. The company is in the process of studying the information to the guidelines for the business operation of the said company. The company will report the progress to the Stock Exchange of Thailand and shareholders.

The Company is committed to ensuring that the Company's internal control system is sufficient and appropriately by hiring an internal auditor to inspect the Company's internal control system to ensure that the Company's management system is efficient, transparent, and supports the Company's operational plans to create sustainability in the long term and to support the company's ability to bring the ordinary shares back to being traded (Resume Stage) on the stock exchange.

Please be informed accordingly to report the progress of corrective actions to qualify for the return of trades and fix various problems according to the report. To notify periodically until the company considers resuming trading (Resume Stage).

Please be informed accordingly,

Yours Sincerely,

(Mr. Thanakit Achariyasombat)

A person with the authority to report information