GULF1 Company Limited has resolved to approve GULF1 to enter into a Private Power Purchase Agreement (PPA) and an Engineering, Procurement and Construction Agreement (EPC) with Advanced Wireless Network Company Limited ("AWN") and Fax Lite Company Limited ("FXL"), subsidiaries of Advanced Info Service Public Company Limited ("ADVANC"), to install solar farms and solar rooftop projects for ADVANC Group with a combined installed capacity of approximately 16.5 megawatts and project value of THB 532 million, for a contract duration ranging from 10-15 years (the "Project"). GULF1 intends to sign the PPA and EPC contracts with AWN and FXL in October 2023. It will also begin construction in the same period, which is expected to take approximately 6 months.

The Project includes the installation of 4,500 nationwide base station sites, 38 main transmission node buildings, 2 data centers, and 3 AIS Contact Center and switching centers. The Project will improve business capabilities for both partners, where GULF Group's expertise in the energy business will help the ADVANC Group manage its energy usage more efficiently as well as help reduce electricity costs and help improve the stability of the clean energy system in the long term.