Sri Trang Gloves Thailand Public : Report on the Utilization of Increased Capital from the Initial Public Offering (IPO) and the Offering of Newly Issued Ordinary Shares under STGT ESOP ended of 30 June 2022

No. STGT.CS 013/2022

27 July 2022

Subject: Report on the Utilization of Increased Capital from the Initial Public Offering (IPO) and the Offering of Newly Issued Ordinary Shares under STGT ESOP ended of 30 June 2022

To: President

The Stock Exchange of Thailand / Singapore Exchange

Sri Trang Gloves (Thailand) Public Company Limited ("the Company") has offered newly issued ordinary shares by initial public offering ( IPO) of 438,780,000 shares at the price of THB 34.00 per share with the par value of THB 1.00 per share1, for Investors subject to the underwriters' discretion, retail investors, institution investors, the Company's and its subsidiaries' patrons and Sri Trang Agro-Industry Public Company Limited's and/or its subsidiaries' directors, executives and/or employees (excluding the Company's and its subsidiaries' directors, executives and/or employees), and at the price of THB 30.60 per share with the par value of THB 1.00 per share1 for the Company's and/or its subsidiaries' employees under STGT ESOP for the first time and the Company's related person who are the Company's directors and/or executives under STGT ESOP for the first time. The proceeds from this offering after deduction of IPO expenses is THB 14,595.38 million.

Later on July 15, 2021, the Company has issued and offered the newly issued ordinary shares of the Company to directors, executives and/or employees of the Company and its subsidiaries in the 1st year after the IPO under STGT ESOP of 5,701,410 shares at the price of THB 37.30 per share with the par value of THB 0.50 per share. The proceeds from this offering after deduction of expenses under STGT ESOP is THB 212.60 million.

The Company would like to report the utilization of such increased capital as detailed above ended of

30 June 2022 as follows:

(Unit: THB Million)

Actual Utilization

Use of Proceed

Estimated

Proceed under

During Period of

Balance

Utilization

STGT ESOP

29 Jun 2020 -

30 Jun 2022

1. For latex gloves production capacity

11,100.00

-

10,818.51

281.49

expansion and production lines

improvement and investment in

future projects of the Company and

its subsidiaries.

1 According to the shareholders' resolution, the Company has changed the par value from to THB 0.50 per share since 28 December 2020. The trading of Company's shares with new par value has been effective since 5 January 2021.

1

Actual Utilization

Use of Proceed

Estimated

Proceed under

During Period of

Balance

Utilization

STGT ESOP

29 Jun 2020 -

30 Jun 2022

2. For installation of the SAP system to

150.00

-

150.00

0.00

transform

operating

system

and

database of the Company and its

subsidiaries

into

a

complete

Enterprise Resource Planning (ERP)

system which will be used in

planning

business

resources

for

each department and throughout the

organization.

3. For

repayment of

the

Company

2,278.61

-

2,278.61

0.00

and/or its subsidiaries loan from

financial

institutions

with

total

facilities of THB 4,363.36 million.

4. For

financing

working

capital

for

1,066.78

212.60

1,279.38

0.00

business

operations,

and

for

repayment of loan from financial

institutions or debenture as deemed

appropriate and beneficial for the

Company and its subsidiaries

Total

14,595.38

212.60

14,526.50

281.49

Please be informed accordingly.

Best Regards,

( Ms. Thanawan Sa-ngiamsak )

Director and Chief Financial Officer

2