Prime Road Power Public : Report on the progress of the sale of the assets according to contractual conditions

(Translation)

Ref: PRIME012/2565

11 August 2022

Subject:	Report on the progress of the sale of the assets according to contractual conditions
To:	President
	The Stock Exchange of Thailand
Ref:	Letter informing the Stock Exchange of Thailand regarding the progress of the sale of the assets
	according to contractual conditions dated 30 August 2021.

Prime Road Power Public Company Limited (the "Company") would like to notify the progress of the sale of the remaining assets as specified in the Covenants of the share subscription agreement which are 10 plots of land in Koh Samui, Suratthani Province total area of approximately 21 rai. These plots of land must be sold to third parties in accordance with the share subscription agreement. If the counterparties cannot find any person who is interested in purchasing such assets, they will be sold to Mr. Krit Srichawla or other person or juristic entity as designated by him. The Company granted an extension until 30 June 2022 for executing such conditions under the agreement to Mr. Krit Srichawala or other person or juristic entity as designated by him.

Due to the pandemic of coronavirus disease continues to have negative impact, as of 10 August 2022 the Company is informed that such assets have not yet been sold in accordance with the conditions of the share subscription agreement. PRG Development Company Limited ("PRGD")1, a former major shareholder of the Company and a counter-party of Mr. Krit Srichawala to the Share Subscription Agreement ("SSA") has the rights and duties under SSA to consider the request for an extension to execute the conditions under the agreement from Mr. Krit Srichawala. PGRD has considered to provide Mr. Krit Srichawla or other person or juristic entity as designated by him with an extension for the execution of the conditions of SSA until 31 December 2023.

Please be informed of the progress of the sale of the assets above, accordingly.

Yours sincerely,

Somprasong Panjalak

(Mr. Somprasong Panjalak)

Chief Executive Officer

1 After the dissolution of PGRD was registered on 20 December 2019, its shares received under the share subscription agreement on 30 January 2020 were transferred to the shareholders as follows: (1) Prime Road Tech Inter Limited (2) Prime Road Capital Company Limited (3) Mr. Somprasong Panjalak (4) Mr. Surachet Chaipatamanont and (5) Mr. Kanadej Thamanoonragsa.

1

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Prime Road Power Public Company Limited, 1, TP&T Tower, 22nd Floor, Soi Vibhavadi Rangsit 19, Vibhavadi Rangsit Road, Chatuchak, Chatuchak, Bangkok, 10900