BTS Group Holdings Public Company Limited inform that (August 15, 2022), the Board of Directors' Meeting of the company No. 7/2022 has approved an incorporation of a new joint venture company with Bangkok Airways Public Company Limited (BA) and another shareholder, in which the Company will hold not less than 55% but not more than 75% shares. As a result, the joint venture company will become a subsidiary of the Company.

The details are as follows: Name: UTB Company Limited. Type of Business: To manage airport city in U-Tapao International Airport and Eastern Airport City Project. Initial Capital and Shares: THB 10,000,000, divided into 100,000 ordinary shares with the par value of THB 100 each Shareholding Structure: The Company holds not less than 55% but not more than 75% shares.

BA holds not less than 25% shares. Other shareholder holds not more than 20% shares. Source of Fund: Working capital of the Company.

Board of Directors' Structure: 9 directors, comprising at least 5 directors nominated by the company.