Sena Development Public Company Limited at its board meeting held on May 14, 2018, had the resolution of approval to delegate of authority to executive committees to operate on the investment in the establishment of a new subsidiary and to perform any necessary actions in connection with the establishment of a subsidiary and the investment of the above subsidiary in order to facilitate the development of real estate company. Therefore, regarding to the Executive Committee Meeting No. 11/2023 held on date May 10, 2023 had the resolution to approve the entering into the Joint Venture Agreement and signed a Share Subscription Agreement with Hankyu Hanshin Properties Corp.

which is not the related person of the Company, for the joint investment in the property development business. The joint venture company in the Sena Development H35 Company Limited and Sena HHP36 Company Limited in the investment ratio of 51:49. The details of the joint investment is as follow: The joint venture is in the process of SENA H35 as follows: The Company will dispose of investment in ordinary shares of SENA H35 in the amount of 4,900 shares with a par value of THB 100 per share, representing 49.00% of the issued and paid-up shares of SENA H17 to Hankyu at the purchase price of all shares in the amount of THB 490,000.

After the joint venture SENA H35 will increase the registered capital by another THB 199,000,000 from the original registered capital of THB 1,000,000 to THB 200,000,000 by issuing 1,990,000 shares at the par value of THB 100 per share. The Company's shareholding ratio in SENA H35 after disposing of such investment in ordinary shares of the Company, the Company's shareholding ratio reduce from 100% to 51%. The Details are as follows: In addition, the disposal of ordinary shares in SENA H35 and SENA HHP36 are not considered as an asset acquisition transaction of the Company according to the Notification of the Capital Market Supervisory Board No.

Tor Jor.