Bangkok Chain Hospital Public Company Limited informed that the Company has signed a joint venture agreement with "Innovation Quality Expert Company Limited (the "Innovation")" on May 2, 2023 for the purpose of establishing a new joint venture company, namely "Health Chain Innotech Company Limited (the "JV Company")", The JV Company is established with registered capital of THB 5,000,000 comprising of 500,000 ordinary shares with par value at THB 10 per share. The Company and the Innovation will hold 90 and 10% of the outstanding shares in the JV Company, respectively. The JV Company shall pay 25% of registered capital with total value of THB 1,250,000 in the beginning and additional payment of the registered capital will be paid upon future capital requirement.

The JV Company is established in Thailand to develop the hospital management software and other business, and operates activity to support the JV Company.