Grand Canal Land Public Company Limited enters into the Service Agreement with Central Pattana Public Company Limited. Service receiver: Grand Canal Land Public Company Limited and its subsidiaries . Service provider: Central Pattana Plc. or its subsidiaries (CPN). Relationship: CPN is a major shareholder and controlling person of the Company, indirectly holding 4,389,418,545 shares or equal to 67.53% of the total issued and outstanding shares of the Company through CPN Pattaya Company Limited. The Company will engage CPN to provide business management, setting policies, as well as, advising on business operation. The agreement will be effective for two years from 1 January 2021 to 31 December 2022. Details of the service fee to be paid to CPN are: 3% of the Company's revenues from rental and service income including revenues from rental and service income arising from property assets managed by the Company; 2% of the net revenues of the Company; In the event that CPN procures and/or leads the process of business investment or the divestment, payment and transfer of real estates to the Company, CPN will receive such fee at the rate of 1.5% of the Company's total additional investment and at the rate of 0.75% of the Company's receipt from the transaction. The minimum and maximum of the monthly service fees are not less than THB 4 million and not exceed THB 7 million respectively. The sum of the maximum service fees paid during the two-year contract term will not exceed THB 168 million, or equivalent to 1.21% of the net value of tangible assets based on the consolidated financial statements of 31 December 2020. Combined with the 1.68% in other connected transactions of the past six months (17 August 2020 ­ 18 February 2021), the total size of such transaction will be 2.89% which is higher than 0.03% but not exceeding 3% of the net tangible asset value of the Company.