PTT Oil and Retail Business Public Company Limited (OR)'s Board of Directors, at meeting No. 2/2567 on February 13, 2024, passed the resolution to establish a new subsidiary which is held 100% stake by Modulus Venture Company Limited (Modulus), a wholly-owned subsidiary of OR, with the initial registered capital of THB 100,000 for business operations and investments in related to the Health and Wellness business. In this regard, this transaction is not classified as a connected transaction, and the transaction size is not required to be disclosed according to the regulations on the acquisition and disposition of assets of the listed companies.

However, this is a report that OR and subsidiaries set up a new subsidiary.