The Board of Directors Meeting No. 8/2021 of JMT Network Services Public Company Limited held on December 21, 2021, resolved to approve in principle the joint venture with a company in the financial conglomerate of Kasikorn Bank Public Company Limited through a subsidiary of KBANK by establishment of joint venture companies to operate 2 types of business, which are debt collection business and asset management business, with the following preliminary details for joint venture: Type of business: Debt collection business - Asset management business. Company: Joint Venture 1 - Joint Venture 2. Initial shareholding: JMT holds less than 50%, and KBANK's subsidiary holds more than 50% - JMT holds less than 50%, and KBANK's subsidiary holds more than 50%. The details regarding the establishment of such joint venture companies may subject to changes
depending on the policy, the discussion with and approval from the Bank of Thailand and other
authorities, including negotiating and entering into a joint venture agreement with KBANK's subsidiary
during the later stage. JMT expects to complete the registration of the establishment of both joint venture
companies by the first quarter of 2022. Such transaction is not considered a connected transaction and at
this stage, the approval is only an approval in principle for entering into joint venture negotiations. Once
JMT enters into a joint venture agreement, JMT will comply with the Notification of the Capital Market
Supervisory Board No. TorJor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as
Acquisition or Disposal of Assets (as amended) and the Stock Exchange of Thailand's Board of
Governors Notification Re: Disclosure of Information and Practices of Listed Companies Concerning
Asset Acquisition or Disposition B.E. 2547 (as amended) including other relevant rules. If there is any
further progress on this, JMT will disclose the relevant information to the Stock Exchange of Thailand.