Nava Nakorn Public Company Limited held the Board of Directors' Meeting on March 16, 2021. The Meeting resolved to approve the establishment of subsidiary companies to support the expansion of future business. The details are follows: Name of the Companies: Fresh Market Company Limited, Smart Development Company Limited, Hotel and Service Company Limited, Smart Residence Company Limited. The establishment of new subsidiary companies are not in scope of the connected transaction. However, the transaction is an acquisition of assets under the Notification of the Capital Market Supervisory Board No. Tor Jor. 20/2551 Re: Rules on significant transactions constituting acquisition or disposal of assets and the announcement of the Stock Exchange of Thailand Re: Disclosure and the operations of listed companies in the acquisition or disposal of assets B.E. 2547 dated 29 October 2004 (Including with additional amendments). The maximum size 4 of transactions are equivalent to 3.14 %, calculated by the total value of consideration method based on the certified of consolidated financial statements ended 31 December 2020. The Company had not entered into any other acquisition transaction during the past six months. Therefore, the transaction size is less than 15% under the said Rule above. The transaction, however, is an acquisition of shares in another company which results in that other company becoming a subsidiary of the Company.