November 14, 2022 Subject: Management’s Discussion and Analysis for 3rd quarter of 2022 ended as of September 30, 2022 Attention: President The Stock Exchange of Thailand AI Energy Public Company Limited

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of entire business transfer is considered as an acquisition of assets under the Notification of the Capital Market Supervision Board No.TorJor. 20/2551 Re: Rules for Significant Transactions

Securities and Exchange Commission, the Capital Market Supervisory Board, or the Office of the Securities and Exchange Commission recommends the investment in the offered REIT units, or guarantees the price or

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offering price will be at 110 percent of the market price of the Company’s shares. In this regard, “market price” shall be pursuant to rules and regulations of the SEC Office. The payment for and transfer of