The Board of Directors' Meeting of Prima Marine Public Company Limited (the "Company") No. 9/2023 held on 19 September 2023 has passed the resolution to approve the establishment of a new subsidiary in Republic of Panama with details as follows: Registered Date: Within October 2023. Type of Business: Investment company, transportation service and Floating Storage Offloading (FSO) service.

Registered Capital: USD 10,000 or approximately THB 356,563 (Exchange Rates as of 19 September 2023 is USD 1: THB 35.6563). Shareholder structure: The Company holds 100% of the total issued and paid-up shares, totaling value of USD 10,000 or approximately THB 356,563(Exchange Rates as of 19 September 2023 is USD 1: THB 35.6563). Source of Fund: Working capital of the Company.

Transaction size: The Company computes the transaction value based on the value of the consideration.