King Wai Thailand Public : Resolution of the Board of Directors' Meeting No. 6/2022 , Approved the connected transactions

บริษัท เคดับบลิวไอ จ ำก ัด (มหำชน)

สำนักงำนใหญ่: ชั้น 30 อาคารจูเวลเลอรี่เซ็นเตอร์เลขที่138/108 ถนนนเรศ แขวงสพระยา่ี เขตบางรัก กรุงเทพมหานคร 10500 ประเทศไทย สำนักงำนสำขำ : ชั้น 47 อาคารเอ็มไพร์ทาวเวอร์เลขที่1 ถนนสาทรใต ้ แขวงยานนาวา เขตสาทร กรุงเทพมหานคร 10120 ประเทศไทย โทรศัพท์: [phone] | โทรสาร: [phone]

KWI Public Company Limited

Head Office : 30th Floor, Jewellery Centre Building, 138/108 Nares Road, Sipraya, Bangrak, Bangkok 10500, Thailand Branch Office : 47th Floor, Empire Tower, 1 South Sathorn Road, Yannawa, Sathorn, Bangkok 10120, Thailand

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No. KWI/LC/2022/C13

Date	11 August 2022
Subject:	Resolution of the Board of Directors' Meeting No. 6/2022
To:	The President
	The Stock Exchange of Thailand

Board of Directors of KWI Public Company Limited (the "Company" or "KWI") No. 6/2022 (the "BOD"), held on Thursday, 11 August 2022, at 2:00 p.m., via an electronic meeting at Bangkok Room, 47th Floor, No. 1 Empire Tower, South Sathorn Road, Yannawa Sub-District, Sathorn District, Bangkok, passed significant resolutions as summarised below.

1. The BOD has considered and approved the audited consolidated Financial Statements of the Company and its subsidiaries (Q2) ending 30 June 2022.
2. The BOD has considered and approved the receipt of financial support (new loan) in the amount of THB 130,460,541.16 for the purpose of working capital of the Company from Tommo (Thailand)
   Limited ("Tommo") (a shareholder which shares common directors with the Company). The transaction is considered a connected transaction according to the Notification of the Capital Market Supervisory Commission No. Tor Chor 21/2551 Re: Rules on Connected Transactions and the Notification of the Board of Governors of the Stock Exchange of Thailand (SET) Re: Disclosure of Information of Listed Company Concerning the Connected Transactions B.E. 2546 (2003). Details of the transaction are as follows:

Date of Transaction:

On 30 May 2022

Financial Supporter: Related Persons are as follows:

Tommo holds 60.20% of the paid-up capital of KWI and has the same directors as KWI, who are Mr. Antonio Hang Tat Chan and Mr. Boonyong Yongcharoenrat.

Financial Receiver:

KWI

Description of the Transaction:

The Company has received financial support from Tommo in the amount of THB 130,460,541.16, which is used for the working capital of the Company. And the term of repayment is 1 year unless otherwise agreed later, with an interest rate of 4% per annum.

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บริษัท เคดับบลิวไอ จ ำก ัด (มหำชน)

สำนักงำนใหญ่: ชั้น 30 อาคารจูเวลเลอรี่เซ็นเตอร์เลขที่138/108 ถนนนเรศ แขวงสพระยา่ี เขตบางรัก กรุงเทพมหานคร 10500 ประเทศไทย สำนักงำนสำขำ : ชั้น 47 อาคารเอ็มไพร์ทาวเวอร์เลขที่1 ถนนสาทรใต ้ แขวงยานนาวา เขตสาทร กรุงเทพมหานคร 10120 ประเทศไทย โทรศัพท์: [phone] | โทรสาร: [phone]

KWI Public Company Limited

Head Office : 30th Floor, Jewellery Centre Building, 138/108 Nares Road, Sipraya, Bangrak, Bangkok 10500, Thailand Branch Office : 47th Floor, Empire Tower, 1 South Sathorn Road, Yannawa, Sathorn, Bangkok 10120, Thailand

Tel: [phone] | Fax: [phone]

Value of Transaction and Transaction Size:

The Company has received a loan without guarantee in the amount of THB 130,460,541.16 with the term of repayment of 1 year unless otherwise agreed later with an interest rate of 4% per annum. The transaction is the new loan with the following details;

Start Date - Due Date	Loan	Period	Interest	Interest Expense
	(THB)		Rate	(THB)
30 May 2022 - 29 May 2023	130,460,541.16	1 Year	4%	5,218,421.65
Total Loan	130,460,541.16	Total Interest	135,678,962.81
Expense

The transaction which the BOD has considered and approved is the new loan in the total amount of THB 130,460,541.16, which is considered a financial support transaction with the size of approximately

0.26 percent of the Company's Net Tangible Asset (NTA). When accumulating such financial support transactions in the past 6 months, it results in the total connected transaction size of 0.50 percent, (NTA of the Company as of 30 June 2022 is THB 1,985,499,208.00) which exceeds 0.03 percent, but not exceeding 3 percent of the Company's Net Tangible Assets (NTA). Therefore, it is deemed as a connected transaction of which its information is required to be disclosed to the SET and to be ratified and approved the entering such transactions by the Board of Directors in compliance with the Notification of the Capital Market Supervisory Commission No. Tor Chor. 21/2551 Re: Rules on Connected Transactions and the Notification of the Board of Governors of the SET Re: Disclosure of Information of Listed Company Concerning to the connected transactions B.E. 2546 (2003).

Related persons/conflict of interests:

The Company has received financial support from Tommo, who is the shareholder of the Company holding 60.20 percent of the paid-up capital of the Company. The details of related persons and conflict of interests are as follow;

• Mr. Antonio Hang Tat Chan is the related person who is a director of the Company
• Mr. Boonyong Yongcharoenrat is the related person who is a director of the Company and holds the share of 0.6 percent of the paid-up capital of the Company.

Opinion of the Board of Directors

The Audit Committee and the Board of Directors have considered the reason and necessity and resolved that this financial support is a reasonable transaction and beneficial to enhance the potential growth and extend the working capital of the Company. The interest rate of this financial support is reasonable and lower than the rates of other financial institutions, and the loan does not require any collateral. Therefore, the Board of Directors has passed the resolution to consider and approve the receipt of financial support from Tommo, as proposed.

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บริษัท เคดับบลิวไอ จ ำก ัด (มหำชน)

สำนักงำนใหญ่: ชั้น 30 อาคารจูเวลเลอรี่เซ็นเตอร์เลขที่138/108 ถนนนเรศ แขวงสพระยา่ี เขตบางรัก กรุงเทพมหานคร 10500 ประเทศไทย สำนักงำนสำขำ : ชั้น 47 อาคารเอ็มไพร์ทาวเวอร์เลขที่1 ถนนสาทรใต ้ แขวงยานนาวา เขตสาทร กรุงเทพมหานคร 10120 ประเทศไทย โทรศัพท์: [phone] | โทรสาร: [phone]

KWI Public Company Limited

Head Office : 30th Floor, Jewellery Centre Building, 138/108 Nares Road, Sipraya, Bangrak, Bangkok 10500, Thailand Branch Office : 47th Floor, Empire Tower, 1 South Sathorn Road, Yannawa, Sathorn, Bangkok 10120, Thailand

Tel: [phone] | Fax: [phone]

Opinion of the Audit Committee

-None-

3. The BOD has considered and approved the receipt of financial support (new loan) in the amount of THB 100,000,000 for the purpose of working capital of the AEC City Company Limited ("AEC"), subsidiary of the Company, which the Company holds 100% of its paid-up capital, from Mr. Narongsak Putthapornmongkol ("Mr. Narongsak") (a director of AEC). The transaction is considered a connected transaction according to the Notification of the Capital Market Supervisory Commission No. Tor Chor 21/2551 Re: Rules on Connected Transactions and the Notification of the Board of Governors of the Stock Exchange of Thailand (SET) Re: Disclosure of Information of Listed Company Concerning the Connected Transactions B.E. 2546 (2003). Details of the transaction are as follows:

Date of Transaction:

On 19 July 2022

Financial Supporter: Related Person is as follows:

AEC is the subsidiary of the Company, which the Company holds 100% of its paid-up capital. And Mr. Narongsak is the director of AEC.

Financial Receiver:

AEC

Description of the Transaction:

AEC has received financial support from Mr. Narongsak in the amount of THB 100,000,000, which is used for the working capital of AEC. And the term of repayment is 6 months unless otherwise agreed later, with an interest rate at the Minimum Loan Rate ("MLR") per annum of Bangkok Bank Public Company Limited ("BBL") and the compound interest in the amount of THB 1,684,516.31.

Value of Transaction and Transaction Size:

AEC has received a loan without guarantee in the amount of THB 100,000,000 with a payment period of 6 months unless otherwise agreed later with an interest rate at the MLR per annum of BBL and the compound interest in the amount of THB 1,684,516.31. The transaction is the new loan with the following details;

3/3

บริษัท เคดับบลิวไอ จ ำก ัด (มหำชน)

สำนักงำนใหญ่: ชั้น 30 อาคารจูเวลเลอรี่เซ็นเตอร์เลขที่138/108 ถนนนเรศ แขวงสพระยา่ี เขตบางรัก กรุงเทพมหานคร 10500 ประเทศไทย สำนักงำนสำขำ : ชั้น 47 อาคารเอ็มไพร์ทาวเวอร์เลขที่1 ถนนสาทรใต ้ แขวงยานนาวา เขตสาทร กรุงเทพมหานคร 10120 ประเทศไทย โทรศัพท์: [phone] | โทรสาร: [phone]

KWI Public Company Limited

Head Office : 30th Floor, Jewellery Centre Building, 138/108 Nares Road, Sipraya, Bangrak, Bangkok 10500, Thailand Branch Office : 47th Floor, Empire Tower, 1 South Sathorn Road, Yannawa, Sathorn, Bangkok 10120, Thailand

Tel: [phone] | Fax: [phone]

Start Date - Due Date	Loan	Period	Interest	Interest
	(THB)		Rate	Expense
				(THB)
19 July 2022 - 18 January 2023	100,000,000		MLR	4,331,091.65
		6	&
		Months	Compound
			Interest
Total loan	100,000,000	Total Interest	104,331,091.65
Expense

The transaction which the BOD has considered and approved is the new loan in the total amount of THB 100,000,000, which is considered a financial support transaction with the size of approximately

0.22 percent of the Company's Net Tangible Asset (NTA). When accumulating such financial support transactions in the past 6 months, it results in the total connected transaction size of 0.72 percent, (NTA of the Company as of 30 June 2022 is THB 1,985,499,208.00) which exceeds 0.03 percent, but not exceeding 3 percent of the Company's Net Tangible Assets (NTA).

Therefore, it is deemed as a connected transaction of which its information is required to be disclosed to the SET and to be ratified and approved the entering such transaction by the Board of Directors in compliance with the Notification of the Capital Market Supervisory Commission No. Tor Chor. 21/2551 Re: Rules on Connected Transactions and the Notification of the Board of Governors of the SET Re: Disclosure of Information of Listed Company Concerning to the connected transactions B.E. 2546 (2003).

Related persons/conflict of interests:

AEC has received financial support from Mr. Narongsak, who is the director of the AEC, the Company's subsidiary, which the Company holds 100% of its paid-up capital.

Opinion of the Board of Directors

The Audit Committee and the Board of Directors have considered the reason and necessity and resolved that this financial support is a reasonable transaction and beneficial to enhance the potential growth and extend the working capital of AEC. The interest rate of this financial support is reasonable comparing to the rates of other financial institutions. Therefore, the Board of Directors has passed the resolution to consider and approve the receipt of financial support from Mr. Narongsak, as proposed.

Opinion of the Audit Committee

-None-

4/3

บริษัท เคดับบลิวไอ จ ำก ัด (มหำชน)

สำนักงำนใหญ่: ชั้น 30 อาคารจูเวลเลอรี่เซ็นเตอร์เลขที่138/108 ถนนนเรศ แขวงสพระยา่ี เขตบางรัก กรุงเทพมหานคร 10500 ประเทศไทย สำนักงำนสำขำ : ชั้น 47 อาคารเอ็มไพร์ทาวเวอร์เลขที่1 ถนนสาทรใต ้ แขวงยานนาวา เขตสาทร กรุงเทพมหานคร 10120 ประเทศไทย โทรศัพท์: [phone] | โทรสาร: [phone]

KWI Public Company Limited

Head Office : 30th Floor, Jewellery Centre Building, 138/108 Nares Road, Sipraya, Bangrak, Bangkok 10500, Thailand Branch Office : 47th Floor, Empire Tower, 1 South Sathorn Road, Yannawa, Sathorn, Bangkok 10120, Thailand

Tel: [phone] | Fax: [phone]

4. The BOD has considered and approved Ms. Prispakorn Pangwiphat as Company Secretary effective from 11 August 2022.

Please be informed accordingly.

Yours sincerely,

KWI Public Company Limited

-Signed -

(Mr. Antonio Hang Tat Chan)

Chief Executive Officer

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