Nok Airlines : The Central Bankruptcy Court granting approval order for Nok Airlines Public Company Limited's time extension for its business rehabilitation plan submission to the official receiver

-Translation-

Ref. BOD007/2021

15 March 2021

RE: The Central Bankruptcy Court granting approval order for Nok Airlines Public Company Limited's time extension for its business rehabilitation plan submission to the official receiver

To: President,

The Stock Exchange of Thailand

As Nok Airlines Public Company Limited (the "Company") has filed the rehabilitation petition, and the Central Bankruptcy Court has issued an order to accept the rehabilitation petition of the Company for consideration on 30 July 2020; and the Central Bankruptcy Court has issued an order for the Company to proceed with rehabilitation and appoint the planners as proposed by the Company on 4 November 2020. The Office of the Cabinet Secretary has then announced the appointment order of the planners by the official receiver in the Royal Thai Government Gazette on 15 December 2020 with a time limit of 3 months that the planners must submit a rehabilitation plan to the official receiver within 15 March 2021.

The Company would like to inform that on 10 March 2021 the planners made a request to the Central Bankruptcy Court for an extension of the limit for submission of the rehabilitation plan in accordance with Section 90/43 Subsection 2 of the Bankruptcy Act B.E 2483 (as amended) with an extension of the time limit for submission by one month from the previous deadline due to the rehabilitation plan containing several important aspects which required the all-aspect analysis, consideration and formulation of the debt structure, capital structure, and organizational structure. This is in addition to legal issues and contractual obligations with employees, business partners, and debtors; as well as in conjunction with financial estimates, capacity for debt repayment and future business plans. The production of the rehabilitation plan is therefore highly important, requires consideration, detailed analysis to result in a just outcome for all creditors, and discussion with creditors and all interested parties in the draft rehabilitation plan in accordance with various principles to esure the rehabilitation plan will receive the approval of the creditors'meeting. The Central Bankruptcy Court has considered and issued an order approving the extension of the submission period of the rehabilitation plan to 15 April 2021.

Following from this, the official receiver will hold a creditor's meeting to consider the rehabilitation plan, the Central Bankruptcy Court will issue an order approving the plan and appointing plan administrators, and the Company will proceed with the rehabilitation plan and inform of the progress in the rehabilitation including any other further progress.

Please be informed accordingly. Sincerely yours,

-Wutthiphum Jurangkool-(Dr. Wutthiphum Jurangkool) Chief Executive Officer