Millcon Steel Public Company Limited provided additional details regarding the default in repayment of principal and interest to financial institutions which was due for payment in the first quarter of 2024, a short-term current debt with a financial institution. The cause of default was delayed receipt of payment for goods from trade debtors. As a result, the company is unable to repay debts as scheduled, with the following details: Loans from financial institutions of the company: Financial institution 1 - THB 4,692.45 million, Financial institution 2 - THB 7.29 million, Financial institution 1 - THB 40.00 million and total - THB 4,739.74 million.

Loans from financial institutions of subsidiary: Financial institution 1 - THB 3,766.87 million. The current status The Company and its subsidiary received approval from Financial Institution 1 to restructure debt of approximately THB 4,500 million. The agreement was signed on 28 May 2024 by adjusting short-term loans to long-term loans with payment due in June 2025.

The remaining overdue short-term loan of approximately THB 4,000 million has been extended, with payment due in October 2024. The payment will be used money from the company's working capital from receipt of payment for goods from trade debtors. As a result, the default event of Financial Institution 1 ended.

As for the outstanding balance of Financial Institution 2 and Financial Institution 3, the Company has already paid the outstanding balance in April 2024, resulting in the event of default of Financial Institution 2. and 3 has ended and the credit limit can be used as usual. As for the remaining short-term loan of THB 2,993.21 million as of March 31, 2024 that was not yet due for payment, as a result of the debt adjustment with the first financial institution, the cause of default on the financial institution's debt has been resolved. Therefore, the remaining loan amount is not considered an event of default by the financial institution which the company will pay with the company's working capital by accepting payment for goods from trade accounts receivable and drawing down new credit lines according to normal business operations of the company.