MFEC Public Company Limited informed the resolution of the Company's Board of Directors Meeting No. 3/2024 convened on 14 May 2024, which approved the establishment of a new associate company namely "Talance Co. Ltd." (referred to as "Associated company").

Venture Lab Co. Ltd., a wholly owned subsidiary of the Company is a co-investor in this investment transaction. Shareholding Structure: Mr. Sorawit Assarattana, No.

of share 15,750; Shareholding percentage:45%; Mr. Tirapat Mahatanakitiwong, No. of share: 5,250; 15%; Venture Lab Co. Ltd. No.

of share: 14,000, Shareholding percentage:40%. Authorized directors: The associates' Board of directors will be comprised of: Mr. Sorawit Assarattana Managing Director, Mr. Tirapat Mahatanakitiwong Executive Director, and Ms. Chotima Sitthichaiviset Executive Director being appointed from MFEC. Registered of share Capital: Capital registered of THB 3,500,000, comprised 35,000 ordinary shares at the par value of THB 100 per share, in which shares proportion of 40% held by the Group company, representing investment amount of THB 1,400,000.

Source of funds: Working capital of Venture Lab. Business objective: Operate in offering extensive IT and technology personnel recruitment solutions tailored for private sector. Specializes in sourcing permanent staff, contract staffs, and freelancer in IT professionals.

The incorporation process of the associated company is anticipated to be completed in May 2024, following the fulfillment of requisite procedures. This includes obtaining the recruitment license issued by the Department of Employment. Subsequently, the associated company intends to initiate the registration process to rename itself as "Talance Recruitment Co.

Ltd." and expand its business objective encompass operations in the recruitment service within the country.