We, Thai Beverage Public Company Limited ("THBEV"), would like to announce that THBEV has incorporated a new wholly-owned subsidiary, Open Innovation Co., Ltd. ("Open Innovation"), in Thailand. THBEV holds 99.99993% in Open Innovation while two shareholders hold one share each.

Open Innovation has an initial registered capital of Baht 28,000,000 consisting of 2,800,000 ordinary shares with a par value of Baht 10. Open Innovation is incorporated as an investment holding company.

The aforesaid investment was funded through internally generated funds and is not expected to have any material impact on the earnings per share and net tangible assets of THBEV for this financial year.

To the best knowledge of the directors of THBEV (the "Directors"), neither of the Directors nor substantial shareholders of THBEV have any direct or indirect interest (other than through their respective shareholdings in THBEV), in the aforesaid transaction.

Please be informed accordingly.

Yours faithfully,

Nantika Ninvoraskul
Company Secretary

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Thai Beverage pcl published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 12:26:19 UTC.