Gulf Energy Development Public Company Limited provided notification to the Stock Exchange of Thailand that on December 16, 2022, the Company established Gulf Advisory Services Company Limited, the Company's wholly-owned subsidiary incorporated in Thailand with a registered capital of THB 1,000,000, with the objective to provide managerial, engineering, technical, financial and other supporting services to the Company's subsidiaries and associated companies in Thailand and overseas. The aforementioned transaction size is not classified as a transaction under the Notification
of the Capital Market Supervisory Board No. Tor Chor. 20/2008 regarding Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets and is not considered a connected transaction. However, the Company is required to disclose the aforementioned information to the
Stock Exchange of Thailand in accordance with the Regulation of the Stock Exchange of Thailand regarding Rules, Conditions and Procedures of Information Disclosure and Practices of Listed Company.