PSG Corporation Public Company Limited informed the Stock Exchange of Thailand ("SET") that on June 22, 2022, the Company and the Government of the Lao PDR ("GOL") represented by the Ministry of Planning and Investment, Investment Promotion Department, has entered into a binding Memorandum of Understanding in relation to undertaking of feasibility studies for development of pumped storage hydroelectric power in the Lao PDR (the "MOU"). This MOU is effective for a period of 24 months. This MOU grants exclusive rights to the Company to conduct feasibility studies on 214 potential site areas in the Lao PDR suitable for pumped storage hydroelectric power generation.

If the results of the study confirm there are economically viable locations for further project development, the Company is entitled to develop the project(s). The GOL and the Company shall negotiate the terms and conditions of the project(s) concession agreement in the next phases after the feasibility studies have been completed.