Dear All Shareholders

Even Thailand still faces challenging situations from economic fluctuations, protracted war, and increased costs of living. As well as the fierce competition in technology within the business world for TSE, we have confidence in potential, business readiness, and adaptiveness to the situation. It can be seen from the past year, the Company has success in several areas as follow: being selected to produce and sell electricity from renewable energy to the government according to the announcement of the Energy Regulatory Commission (ERC) to develop and implement the Grounded solar power plant and grounded solar power plant with energy storage projects in total of 7 projects with a total production capacity for sell of 88.66 megawatts. In addition, the Company was rated in a corporate credit rating at “BBB-” with a credit rating outlook of “Stable” from TRIS Rating Company Limited. This corporate credit rating is part of the plan to prepare funding sources to support business expansion and future investment. In aspect of management, the Company Group manages on the principles of Good Corporate Governance with transparent governance, be responsible in management to to all stakeholders, and environment and society governance: ESG ), as well as supporting the anti corruption along with sustainability operations by reducing the resource usage, reduce Greenhouse Gas Emissions: GHG), in accordance with Thailand’s important goals of achieving Carbon Neutrality in 2050 and net zero greenhouse gas emissions (Net Zero) in 2065.

At the end of 2023, the Company Group had in total of 41 projects operating in Thailand, with a total production capacity for sell of 241.86 megawatts, with a total of 34 projects that had already supplied electricity into the commercial with a total production capacity for sell of 153.2 megawatts. and 7 of Solar Big Lot projects are in progress with a production capacity for sell of 88.66 megawatts.

The Company Group continues to conduct the strategic planned. In 2024, there is an operational plan as follow: 1) Preparing to participate in submitting an offer to sell electricity in the project to purchase electricity from renewable energy in the Feed-in Tariff ( FiT) model for 2022 – 2030 for power plants without fuel costs on round 2 and round 3, with a target of 100 – 150 megawatts 2 ) Expand the operations into the Private PPA (Private Power Purchase Agreement) business or the integrated trading of electricity from solar energy between the private sector in the form of installation on the roof (Solar Rooftop) and installation on the water surface (Solar Floating) 3 ) Plan for Mergers and Acquisitions: M&A in solar power plant projects to increase production capacity, market share, and create opportunities to grow for the Company. 4) Collaborate with partners in the model of a Joint Venture, focusing on the power plant from waste in communities project in Thailand. and solar energy power plant projects in overseas 5) Conduct a feasibility study on investing in a new project in the Health Care business with expert partners to do Wellness business, starting from giving birth, treatment and prevention to the results of comprehensive healthy environment. This is a business that has a tendency to grow according to the current economic conditions to create good returns for the Company and long-term shareholders

On behalf of the Board of Directors and executives, we would like to share our gratitude to the shareholders, business partners. financial institution, government agencies, and related private sector, as well as all stakeholders who have always trusted and supported the Company, and most importantly, thank you to all the Company’s employees. Finally, we would like to assure everyone that the Company will continue to strive to conduct business under ethical principles, good corporate governance guidelines with recognitions of social responsibility, in order to drive the organization towards sustainability.

Cathleen Maleenont, Ed.D

Chairman of the Board