Clover Power Public : Report of the utilization of the increased capital from IPO No.2

No. CV-SET 2022/012

July 26th, 2022

Subject: Report of the utilization of the increased capital from IPO No.2

To: President

The Stock Exchange of Thailand

Reference is made to Clover Power Public Company Limited (the "Company") had conducted the Initial Public Offering (IPO) on August 25-27, 2021 for 320,000,000 shares at the offering price of Baht 3.90 per share, the Company had received proceeds from IPO in the total net among of Baht 1,195 million after deducting underwriter commission and expenses in connection with the offering.

The Company would like to report the above proceeds utilization as of 30 June 2022 as follows:

Unit: million Baht

				Proceeds			Actual Proceeds			Actual Proceeds
						Utilization			Utilization			Remaining
	Objective of spending			utilization
					(28Aug.21-			(1Jan22-30Jun			Unutilized
				plan
						31Dec.21)			22)
	1. Fund for business expansion in domestic and overseas	110		110		-		-
	1.1 Acquisition Co-Generation Power Plant 7.36
	MW (natural gas)
	1.2 Development new biomass power plant	450		27.05		-		442.95
	project 39.8 MW in Japan
	1.3 Development and/or investment in new	180		180		-		-
	renewable energy projects including
	investment in engineering businesses and
	related businesses both domestically and
	internationally
	2. Loan repayment to the financial institution and	330		330
	Directors
	3. Working capital for business operations	125		125
	Total	1,195		772.05					422.95

Please be informed accordingly

Sincerely yours,

(Mr. Teeraphat Petporee)

Chief Financial Officer

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