U City Public : Report on the utilization of the proceeds from capital increase

(-Translation-)

Ref. No. U.SET 012/2022

12 July 2022

Subject: Report on the utilization of the proceeds from capital increase

To: The President

The Stock Exchange of Thailand

Reference is made to the fact that U City Public Company Limited (the "Company") has issued and offered the newly issued preferred shares to the existing common shareholders and existing preferred shareholders in proportion to their shareholdings (Rights Offering) in the amount of 28,062,878,178 shares, with a par value of Baht 3.20 per share, at the same allocation ratio of 1 existing ordinary share or existing preferred share to 3 newly issued preferred shares, at an offering price of Baht

0.70 per share, during 12 - 21 May 2021, in which the Company received proceeds from issuing and offering the newly issued preferred shares in the amount of Baht 15,725,413,989.60. As of 25 May 2021, the remaining proceeds from capital increase after deducting all expenses related to fees for registration of capital increase, stamp duty and bank fee is amounted to Baht 15,725,163,629.60

The purpose of the Company to conduct capital increase by offering the newly issued preferred shares to the existing common shareholders and existing preferred shareholders in proportion to their shareholdings (Rights Offering) are as follows:

1. Partial loan repayment.
2. To support the normal business operation of the Company in the form of working capital.
3. To invest in the Company's projects both in the present and the future.

During the period of 1 January 2022 - 30 June 2022, the Company has utilized proceeds received from capital increase with details as follows:

No.	Details on Utilization of Capital Increase Proceeds	Used amount
		(Unit : Baht Million)
1.	Investment in development of projects	1,053
	Total	1,053

As of 30 June 2022, the remaining amount of proceeds that the Company received from capital increase is Baht 229 million.

Please be informed accordingly.

Sincerely yours,

U City Public Company Limited

____________________________

(Ms. Soraya Satiangoset)

Director