Gulf Energy Development Public Company Limited acknowledged the significance of the aforementioned government policy, and therefore has partnered with Better World Green Public Company Limited, a company possessing more than 20 years' experience in integrated waste management including waste treatment, waste disposal and waste transformation from non-hazardous industrial waste to fuel (SRF) for supporting electricity production, and Earth Tech Environment Public Company Limited ("ETC"), a company specializing in operating waste-to-energy power plants. The collaborations aim to jointly develop an integration of industrial waste-to-energy projects and SRF production facilities, adding values that encompass energy, industrial, environmental, and economic perspectives. The Company would like to provide notification to the Stock Exchange of Thailand that on March 8, 2024, Gulf Waste to Energy Holdings Company Limited ("GWTE"), a subsidiary in which the Company directly holds 100% equity stake, has entered into a shareholders' agreement between GWTE and ETC, for the development of industrial waste-to-energy projects, and a shareholders' agreement between GWTE and BWG, for the development of SRF production facilities, as per the following: The shareholders' agreement between GWTE and ETC.

GWTE has signed shareholders' agreement with ETC for the acquisition of 50% of ordinary shares in Get Green Power Company Limited ("GGP"), a company developing 10 industrial waste-to-energy projects in which each project has entered into Power Purchase Agreements with the Provincial Electricity Authority ("PEA"), for the period of 20 years, on October 16, 2023. Each project is categorized as Very Small Power Producer (VSPP) with a contracted capacity of 8 megawatts, or a total contracted capacity of 80 megawatts. The total project cost is approximately THB 15,000 million with scheduled commercial operation dates in 2026.