Thoresen Thai Agencies : Minutes of Annual General Meeting of Shareholders for the year 2023

THORESEN THAI AGENCIES

PUBLIC COMPANY LIMITED

(Translation)

Minutes of the 2023 Annual General Meeting of Shareholders

(the "Meeting" or "AGM") of

Thoresen Thai Agencies Public Company Limited (the "Company" or "TTA")

Date, Time and Means of the Meeting:

The Meeting was held on Thursday, 27 April 2023, at 13:30 hrs., via electronic means following the Emergency Decree on Electronic Conferencing B.E. 2563 (2020) and the Notification of the Ministry of Digital Economy and Society Re: Standards for Maintaining Security of Meetings via Electronic Means B.E. 2563 (2020) and (No. 2) B.E. 2564 (2021). The Meeting also complies with the Public Limited Company Act (No. 4) B.E. 2565 (2022) and the Company's Articles of Association, which contain no prohibition on organizing meetings via electronic means. The Meeting was broadcasted from Persian Gulf Room 5th Floor, Orakarn Building, 26/26-27 Soi Chidlom, Ploenchit Road, Kwaeng Lumpinee, Khet Pathumwan, Bangkok 10330.

The Company conducted the Meeting by engaged a service provider, Inventech Systems (Thailand) Co., Ltd., to manage and control the registration, e-meeting, and e-voting via Inventech Connect system, a shareholder meeting system via electronic means that is accurate, and accredited with the electronic-meeting related standards, and passed the self- assessment of the Electronic Transactions Development Agency ("ETDA").

Ms. Nanchalee Kecharananta, the Company Secretary, informed the Meeting that at the time of the opening of the Meeting there were 10 shareholders present in person representing 381,701,638 shares and by proxy holders of 87 persons, representing 388,847,035 shares, totaling of 97 shareholders and proxy holders representing 770,548,673 shares, or 42.2805 percent of the total issued shares of the Company, thereby constituting a quorum as required by law and under the Company's Articles of Association.

Ms. Natasa Urcharoenngan, the Meeting moderator, introduced directors, executives, auditor, independent financial advisor, legal counsel, vote-counting inspector and Company Secretary of the Company who were present at the Meeting in person and via electronic means as follows:

Directors and Executive who were in attendance in person:

1.	Mr. Prasert Bunsumpun	Chairman of the Board of Directors /
		Non-Executive Director /
		Chairman of the Executive Committee
2.	Mr. Chalermchai Mahagitsiri	Executive Director / President and Chief
		Executive Officer / Chairman of the Investment
		Committee / Member of the Executive Committee
3.	Mr. Somboonkiat Kasemsuwan	Independent Director/
		Chairman of Audit Committee
4.	Mr. Santi Bangor	Independent Director/Chairman of Nomination
		and Remuneration Committee/
		Chairman of Corporate Governance Committee/
		Member of Audit Committee

26/26-27 Orakarn Bldg., 8th Floor, Soi Chidlom, Ploenchit Road, Kwang Lumpinee, Khet Pathumwan, Bangkok 10330 Tel : [phone] Fax: [phone] E-Mail Address : [e-mail] Website: www.thoresen.com

5.	Mr. Katarat Suksawang	Executive Vice President, Account & Finance and
		Group Chief Financial Officer

Directors who were in attendance via electronic means:

1.	Mr. Cherdpong Siriwit	Independent Director/
		Chairman of Risk Management Committee/
		Member of Audit Committee
2.	Dr. Chitrapongse Kwangsukstith	Independent Director
3.	Dr. Jean Paul Thevenin	Non-Executive Director / Member of Executive
		Committee / Member of Risk Management
		Committee / Member of Investment Committee /
		Member of Corporate Governance Committee
4.	Ms. Ausana Mahagitsiri	Executive Director / Deputy Chief Executive
		Officer / Member of Executive Committee /
		Member of Nomination and Remuneration
		Committee / Member of Corporate Governance
		Committee
5.	Mr. Kamolsut Dabbaransi	Executive Director / Senior Executive Vice
		President, Head of Food & Beverage /
		Chairman of Sustainable Development Committee
6.	Mr. Mohammed Rashed	Independent Director / Member of Nomination
	Ahmad M. Alnasri	and Remuneration Committee
7.	Mr. Somchai Chaisuparakul	Non-Executive Director

As of the Meeting date, the Company has 11 directors, 11 directors were present at the Meeting, in person and via electronic means, representing 100 percent of the total number of attended directors.

Executives who were in attendance via electronic means:

1.	Mr. Sigmund Stromme	Executive Vice President, Agro & Logistics
2.	Dr. Vincent Siaw	Executive Vice President,
		Legal and International Projects
3.	Mr. Somchai Apinyanukul	Executive Vice President,
		Group Human Resources

Auditor who was in attendance via electronic means:

Mr. Veerachai Ratanajaratkul

Auditor from KPMG Phoomchai Audit Ltd.

Independent Financial Advisor who was in attendance in person:

Mr. Worawas Wassanont

Managing Director of Avantgarde Capital Co., Ltd.

Legal Counsel, who acted as independent legal advisor who monitored the shareholders' meeting to be in accordance with the laws and Articles of Association of the Company, was in attendance in person:

Mr. Ekkamol Emradee

Company Secretary Company Limited

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Vote-Counting Inspector who was in attendance in person:

Miss Muchamon Chalermnon

Able & Primpton Attorneys at Law

Company Secretary who was in attendance in person:

Ms. Nanchalee Kecharananta

Shareholders' Rights Protection Volunteer who was in attendance via electronic means:

Ms. Umachasaya Charoenchai

Representative from Thai Investors Association

Preliminary Proceedings:

Mr. Prasert Bunsumpun, Chairman of the Board of Directors, presided as the Chairman of the Meeting (the "Chairman"), welcomed shareholders who attended the Meeting and assigned Ms. Natasa Urcharoenngan, the Meeting moderator, and Ms. Nanchalee Kecharananta, the Company Secretary, to assist the Chairman in conducting the Meeting and announcing the voting results on each agenda.

The Meeting moderator explained that for this Meeting, the Company will collect, use, and disclose personal data, including recorded images, voices, and animations ("Video"), of all attendees for the objective of the 2023 e-AGM, for its lawful benefit, or for compliance with the law.

The Meeting moderator explained the Meeting procedures, voting procedures, vote counting procedures, and procedures to raise questions or provide opinions as set out below.

1. Each agenda item would be considered in the order set out in the invitation letter to this Meeting. The details of each agenda would be presented, and then shareholders or proxies would be granted opportunities to raise questions thereafter, and the Company would announce the result of voting to the Meeting after vote counting finished.

2. Each shareholder had one vote for each share. Shareholders might vote for, against, or abstain from voting on any agenda based on the full number of votes they had. Shareholders could not divide their votes, except for custodians who were proxy holders of foreign shareholders.

1. Proxy holders with the votes cast by their shareholders as specified in the Proxy Form submitted to the Company prior to the commencement of the Meeting did not have to vote during the Meeting. Such votes had already been collected and counted by the Company as indicated in the Proxy Form received during registration.
2. For agenda item 4, regarding the election of directors, the Company would ask the shareholders to cast their votes for directors individually.
3. In the vote-counting process for each agenda, the votes cast in disapproval or abstention would be deducted from the total votes of the shareholders in attendance having the rights to vote and during the consideration of such agenda. The remaining votes, apart from the votes in disapproval or abstention, would be considered as votes of approval for such an agenda.
4. To vote, shareholders or proxies wishing to vote were required to vote in the Inventech Connect (e-Voting) system, which allowed shareholders or proxies to
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choose the agenda wishing to vote for. They could press the "Vote" button, and the system will display all 3 options, namely agree, disagree, and abstain.

If shareholders or proxies would like to cancel the latest vote, they could press the "Cancel Vote" button. They could edit their votes until the system closed for the result. The Company allowed shareholders or proxies 1 minute to vote. For any shareholders or proxies who did not vote within the specified time, the Company would consider that they agreed with that agenda, and when the submission of votes for each agenda had been closed, the result of that agenda would be announced to the meeting later. In the case of shareholders or proxies accepting proxies from many shareholders, the system would display the names of all proxies. Voting should be done separately for each user account. Attendees could click on the "Change account" button to access other shareholders' accounts. The previous account would still be counted as the basis for the meeting.

1. In case participants wanted to leave the Meeting, they could press the button "Register for exit the quorum". Their votes would not be counted as a quorum and would be removed from the vote base for all unprocessed agenda items. However, leaving the Meeting during any agenda would not deprive shareholders or proxies of their rights to return to the Meeting and vote on the agenda item that had not yet been implemented.
2. Asking questions or expressing opinions in the Meeting room, before voting on each agenda, the Chairman of the Meeting would allow the Meeting attendees 1 minute to ask questions or express their opinions related to each agenda. They could select the agenda on which they wanted to ask questions or express their opinion, then press the "Question" button, which could be asked via 2 channels:
3. • Inquire via message: shareholders or proxies could type their desired inquiry, then press the "Send" button, whereby the Company would answer questions in the Meeting room on the agenda related to that question. In case, there were many questions, the Company reserved the rights, in select the proper questions for answering at the Meeting, or
   • Inquire via video and audio (VDO conference): Shareholders or proxies could press the button "Conference", then press "OK" to confirm the queue booking. Once authorized by the staff, attendees could turn on their camera and microphone. The attendees were required to state their names and surnames and their status as shareholders or proxies before asking questions every time, so that the Company could record them accurately and completely in the minutes of the Meeting.

However, the Company reserved the rights to cut off the conference access of the shareholders or proxies who asked inappropriate questions, made impolite comments, defamed others, or violated any laws, including by infringing on the rights of others or disturbing the Meeting or causing trouble for other attendees.

9. In case there are shareholders or proxies who wanted to ask a lot of questions via video and audio, in order to maintain the duration of the Meeting, the Company would ask the shareholders to ask questions via message. The Company reserved the rights to select questions as appropriate and related to the agenda of the Meeting. For other questions and suggestions that had not been answered at the Meeting, the Company would record the questions and answers as part of the minutes of the Meeting, which would be published on the Company's website within 14 days from the completion of the Meeting.

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10. In the event of a system failure during the Meeting, shareholders would receive an email to return to the Meeting through the backup system.

The Meeting moderator further informed the Meeting that the Company provided opportunity for shareholders to propose agenda items for the 2023 Annual General Meeting of Shareholders in advance from 1 November 2022 - 31 January 2023 as per specifying criteria published on the Company's website (www.thoresen.com), as well as granted shareholders the opportunity to submit questions in advance via email: [e-mail]. In this regard, it appeared that "No" shareholders proposed any agenda items or submitted any questions in advance.

After clarifying the Meeting procedures, voting procedures, and vote counting procedures, and procedures to raise questions or provide opinions, the Chairman informed the Meeting that from the 2021 Annual General Meeting of Shareholders onwards, the consideration and adoption of the minutes of the previous meeting have no longer been proposed as an agenda item for the meeting, as ever notified in 2020 Annual General Meeting of Shareholders. In 2022, the minutes of the 2022 Annual General Meeting of Shareholders was published in both Thai and English on the Company's website within 14 days from the date of the meeting. In addition, the shareholders were given the opportunity to make inquiries and express opinions about the minutes. However, "No" questions or opinions were submitted. The minutes of the 2022 AGM are deemed final and approved. Consequently, the Chairman conducted the Meeting in accordance with the agenda as follows:

Agenda 1. To acknowledge the results of operations of the Company for the fiscal year ended 31 December 2022

The Chairman invited Mr. Chalermchai Mahagitsiri, President and Chief Executive Officer ("CEO"), to report the Company's business highlights and Mr. Katarat Suksawang, Executive Vice President, Account & Finance, and Group Chief Financial Officer, to report the Company's performance results with an analysis of management to the Meeting.

Mr. Chalermchai Mahagitsiri reported to the Meeting that in 2022, the situation of the COVID-19 outbreak began to end and the global economy began showing signs of recovery, yet this period was still unreliable. TTA Group was therefore focusing on building growth for existing businesses, maintaining strong financial liquidity, and seeking new futuristic investment opportunities. As a result, TTA Group had another strong year of performance in 2022. Importantly, TTA Group committed to conducting business based on good corporate governance, taking society and the environment into account to create sustainable growth, and generating good returns for shareholders. As a result, TTA Group achieved an "Excellent" CG score for the 4 consecutive year for the corporate governance rating and seized the 2021 ASEAN Corporate Governance Scorecard ("ACGS") award category of the ASEAN Assets Class for the first time, which was determined by the corporate governance assessment of Thai-listedcompanies in ASEAN. Another source of pride was that the Company was selected as a Thai listed company to be included in Thailand Sustainability Investment ("THSI") for the year 2022 due to its continuous success and outstanding sustainability under the operation for the benefit of the environment and society.

Mr. Chalermchai Mahagitsiri further reported the Company's business highlights in 2022 as follows:

Shipping segment operating under Thoresen Shipping has been one of TTA's major sources of revenue, contributing 48 percent of total revenue in 2022. Thoresen Shipping analysed the

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