Triple i Logistics Public Company Limited announced that the Board of Directors' Meeting No. 10/2021, held on 21 December 2021, has passed resolutions to approve the investment and the incorporation of a new company together with Jong Tungcharoen Transport Group Co. Ltd. and Power Interfreight Co. Ltd. who are experts in rail transportation and inland transportation by truck trailer. The newly setup company shall be named Triple i Railgistics and shall have a registered capital of THB 5.00 million and the total number shares at 500,000 ordinary shares with the par value of THB 10, where the Company will make an investment of THB 2.75 million. The Transaction is considered as an acquisition of assets in accordance with the Notification of the Capital Market Supervisory Board No. TorJor. 20/2551 RE: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets dated 31 August 2008, and the Notification of the Board of Governors of the Stock Exchange of Thailand RE: Disclosure of Information and Other Acts of Listed Companies Concerning the Acquisition or Disposition of Assets B.E. 2547 (2004) dated 29 October 2004. The highest transaction value is equal to 0.10% of total assets of the Company according to the audited consolidated financial statements of the Company for the nine-month period ended 30 September 2021, calculated from total value of consideration. Moreover, the Company and/or the subsidiary have had other transactions of acquisition of assets during the past 6 months prior to the date on which the Board of Directors of the Company passed the resolution. When combining such transactions, the highest size of transaction according to the total value of consideration basis is 18.47% of total assets of the Company according to the audited consolidated financial statements of the Company for the nine-month period ended 30 September 2021, which is considered as a Class 2 transaction, that is a transaction that has a value equal to 15% or more but lower than 50%, in accordance with the Notification on Acquisition or Disposal of Assets. Therefore, the Company is required to disclose the information memorandum on such transaction to the Stock Exchange of Thailand and to inform the shareholders in terms of written documents within 21 days from the date that the information memorandum is disclosed to the SET. However, after considering the cumulative transaction size for all transactions in the past 6 months up to 21 December 2021, less the size of transactions which the Company has sent a circular notice to the shareholders, as detailed and disclosed to SET on 9 November 2021, the transaction size according to the total value of consideration criteria is 0.10%, which is less than 15%. Therefore, the Company is not required to send a circular letter to the shareholders of the Company within 21 days. Furthermore, the acquisition of the asset is not considered a transaction between the Company and its related party. Therefore, it is not considered a connected transaction under the Notification of the Capital Market Supervisory Board No. ThorChor. 21/2551 re: Rules on Connected Transactions dated 31 August 2008, and the Notification of the Stock Exchange of Thailand Re: Rules, Procedures, and disclosure of information concerning the connected transaction of Listed Companies B.E. 2546 (as amended).