Banpu Power Public Company Limited at its board meeting held on August 25, 2023, has resolved to approve the Company as a service receiver to enter into the Management Service Agreements (MSA) with Banpu Public Company Limited (BANPU) as a service provider. According to the Company has entered into the MSA with BANPU for 2 years, started from October 1, 2021 and ended on September 30, 2023. In additional, the comparison between to recruit human resources and procure equipment by the Company and to hire BANPU to manage the aforesaid, the Company has an opinion that to hire BANPU is more beneficial to the Company both in term of efficiency and cost due to Banpu's staff is knowledgeable and competent especially in the power
business including coal as it is the main raw material in the power plant of the Company and its subsidiaries which will be strengthen the management efficiency. Moreover, it can reduce the staff training cost in short time. Therefore, the Company can be able to continue its business with the
information technology systems readiness and specialized operating units to create confidence in the security of information systems and, also backup the Company's information. Furthermore, the Company has considered the continuation of management. Therefore, the Company has renewed the
MSA with a term of 2 years from October 1, 2023 to September 30, 2025 which the Company will pay the service fee on monthly basis, representing the total remuneration under the MSA of THB 284,200,000.