Change - Change in Corporate Information::Incorporation of Subsidiary in the Thai Beverage Group

We, Thai Beverage Public Company Limited ('THBEV'), would like to announce that International Beverage Holdings Limited, a direct wholly-owned subsidiary of THBEV, has incorporated a new wholly-owned subsidiary in Singapore, BeerCo Limited ('BeerCo Singapore').

BeerCo Singapore has an initial issued share capital of S$200,000, consisting of 200,000 shares. BeerCo Singapore is incorporated as an investment holding company.

The aforesaid incorporation is a part of an ongoing internal restructuring exercise ('Restructuring') for THBEV, which is intended to streamline and enhance the overall operational efficiency and effectiveness of the beer business and operations of the THBEV Group. Further details on the Restructuring have been provided to shareholders in the Invitation to the 2020 Annual General Meeting of Shareholders, despatched to shareholders and uploaded on SGXNET on or about the date of this announcement.

The aforesaid incorporation was funded through internally generated funds and is not expected to have any material impact on the earnings per share and net tangible assets of THBEV.

To the best knowledge of the directors of THBEV (the 'Directors'), neither the Directors nor substantial shareholders of THBEV have any direct or indirect interest (other than through their respective shareholdings in THBEV) in the aforesaid incorporation.

Please be informed accordingly.

Yours faithfully,

Nantika Ninvoraskul
Company Secretary