Asset World Corp. Public Company Limited informed the Stock Exchange of Thailand that a new subsidiary of the Company has been set up on December 23, 2022. Company Name: Chiangmai Hotel Collection Co.

Ltd. Registered Capital: THB 100,000 (Divided into 10,000 ordinary shares with the par value of THB 10 each). The Objective: To support the investment as per to the Company's investment plan. Shareholders' Structure: AWC: 25%, THAM: 75%, AWR: 1 share.

Source of Fund: The Company's working capital and loan from the Company. Registration date: December 23, 2022.