Company Milestone

The Board of Directors' Meeting of GUNKUL No. 7/2020 passed a resolution to approve the 2^nd Shares Repurchase Project for liquidity management for the maximum benefit of the Company. The maximum amount that used for share repurchase is not more than 1,100 million baht. The number of shares to be repurchased is not more than 440,000,000 shares with the par value of 0.25 baht per share or equal to 5.01% of the issued and paid-up capital after deducting the actual treasury shares in the 1st time which set a period to repurchase the shares from April 1, 2020 to September 30, 2020. The number of shares repurchased by the Company in this time is 0 shares or equivalent to 0% of the total number of sold shares of the Company. The total value of the repurchased shares equal to 0 baht.

The Annual General Meeting of Shareholders for the year 2020 resolved to approve as follows:

• Approval of the reduction of the Company's registered capital in the part that cannot be allocated for stock dividend payment according to the resolution of the 2019 Annual General Meeting of Shareholders for the amount of 19,814,818 shares or 4,953,704.50 baht; therefore, from the original listed shares of 8,902,345,792 shares or the existing registered capital 2,225,586,448.00 baht, par value of 0.25 baht per share, to be a new listed stock of 8,882,530,974 shares or equal to THB 2,220,632,743.50, par value THB 0.25, by reducing the registered capital with the Department of Business Development on April 23, 2020
• Approval of the amendment of the Company's objectives and the amendment of Clause 3 of the Company's Memorandum of Association to be in line with the amendment of the Company's objectives by amending item (2) and adding item (64) - item (83) and amendment to Clause 3 of the Company's Memorandum of Association.
• Approval of the issuance and offering of the debenture by increasing credit line of 6,000 million baht, from the previous credit line of not exceeding 9,000 million baht to be new credit line of not exceeding 15,000 million baht, maturity is not exceeding 7 years.

The Company offered the Company's debentures No. 1/2020, Series 1 (age 3 years) and No. 1/2020, Series 2 (age 5 years) by issuing and offering the Company's unsubordinated, unsecured debentures, totaling up to 2,800 million baht, paying interest every 3 months. There were investors subscribed for a total of 1,348.70 million baht or 48% of the total debentures issued

The Company sold the Utsunomiya solar power plant project in Japan, with a capacity under the PPA of 66.78 MW and according to the installation of 69.83 MW, by selling 100% of GD Solar Utsunomiya Godo Kaisha ("GD Solar") held by (a) Future Asset Management KK ("FAM") (a subsidiary of the Company). (B) Gunkul International (Mauritius) ("GIM") (a subsidiary that the Company holding 100% shares) with the sale value of 5,964,930,000 yen or equivalent to 1,679,921,130.69 baht according to the resolution of the Board of Directors Meeting of GUNKUL No. 5/2019 held on November 6, 2019.

The Company has acquired 100% of Doan Son Thuy Investment JSC Company Limited ("DST") to invest in a solar power plant project with a total capacity of 50 MWp in Hue, the Socialist Republic of Vietnam, with the investment value of USD 39,850,000 or equivalent to 1,258,582,550 baht according to the resolution of the Board of Directors Meeting of GUNKUL No. 5/2020 on July 23, 2020.

Bright Green Power Company Limited, a subsidiary of the Company, has acquired 100% of the ordinary shares of INT Energy Pte. Ltd. ("INT") to invest in a solar power plant project, with a total capacity of 50 MWp, in Tay Ninh Province, the Socialist Republic of Vietnam which is held by Tan Chau Energy Joint Stock Company ("TCE") with the investment value of USD 47,140,000 or equivalent to 1,471,097,980 baht according to the resolution of the Board of Directors Meeting of GUNKUL No. 7/2020 on October 9, 2020.

Phong Dien II solar power plant project, located in Hue, Socialist Republic of Vietnam, has a total production capacity of 50 MWp. This is a project that produces and sells solar power to Vietnam Electricity Corporation ("VEC") at USD 0.0709 per unit in feed-in tariff scheme, with 20-year concession period starts from the commercial operation date which has started its commercial operation already.

The Company sold the Iwakuni Solar Power Plant Project, Japan. The capacity of the PPA is 75 MW and according to the installed capacity of 98 MW, by selling 100% of East Japan Solar 13 Godo Kaisha ("EJS 13") held by (a) Future Asset Management KK ("FAM") (B) Gunkul International (Mauritius) ("GIM") (a subsidiary of the Company) with the sale value of 9,942,653,495.00 yen or equivalent to 2,863,842,142.09 baht according to the resolution of the Board of Directors Meeting of GUNKUL No. 7/2020 on October 9, 2020.

The LSSPV Solar Power Plant Project, located in Terengganu State, Malaysia, with a total production capacity of 50 MWp and the contracted electric quantity of 29.99 MW, installed power size at 39.0297 MW. This is a project that produces and sells solar power to Tenaga Nasional Berhad ("TNB") at MYR 0.38 per unit in feed-in tariff scheme, with 21-year concession period starts from the commercial operation date which has started its commercial operation already.

The Annual General Meeting of Shareholders for the year 2019 resolved to approve as follows:

• Approval of the increase of the registered capital of the Company totaling 1,483,724,299 shares, or 370,931,074.75 baht, to support the stock dividend payment; therefore, from the original registered shares of 7,418,621,493 shares or existing registered capital of 1,854,655,373.25 baht at the par value of 0.25 baht, to a new registered share of 8,902,345,792 shares or new registered capital equal of 2,225,586,448.00 baht at the par value of 0.25 baht, by proceeding with the registered capital with the Department of Business Development on April 23, 2019. (On May 7, 2019, the Company registered the change in paid-up capital with the Department of Business Development after the allocation of stock dividend has been completed as a current paid up shares of 8,882,530,974 shares and current paid-up capital of 2,220,632,743.50 baht).
• Approval of the reorganization of the Board of Directors from 10 to 12 persons so that the Board of Directors has more variety of professional skills and expertise including for more balance of power in the Board of Directors.
• Approval of the amendment to the objectives of the company in order to cover and support the increased business expansion.
• Approval of the amendment of the Articles of Association of the Company, Article 45. “The Company’s Seal”

Krungthep Thanakom Co., Ltd. has entered into an agreement with GKE & FEC Joint venture, which is a joint venture between the Company and Future Electric Control Co., Ltd. (“FEC”) (held by Gunkul Power Development Co., Ltd. (“GPD”) which is a subsidiary company of the Company. The joint venture is constructing the underground communication project in Bangkok for area 3, the value of work includes VAT of approximately 5,142 million baht, with a total distance of approximately 605 kilometers.aht.

The Company has signed a contract to construct a solar PV Rooftop with Lohakij Rung Chareon Sub Co.,Ltd. with an installed capacity of 4.68 MW.

The Company offered to sell the Company’s debentures No. 1/2019, in an amount not exceeding 2,500,000,000 baht, divided into the amount offered for sale 2,000,000,000 baht and additional reserve debentures 500,000,000 baht, with a period of 2.9 years and due for redemption in the year 2022, bearing interest at a fixed rate of 4.50% per annum, paid interest every 3 months throughout the term of the debentures. The objective is to take money from this offering of debentures to repay the debentures that are due in October 2019 and/ or to support the Company’s business expansion and/ or use as working capital.

Gunkul Power Development Co., Ltd. (“GPD”), a subsidiary of the Company have signed a contract with Electricity Generating Authority (EGAT) by procuring and installing solar power generation systems (Solar Rooftop), with a total installed capacity of not less than 580 kW and Battery Energy Storage System (BESS) on the EGAT central office area of approximately 300 rai, divided into a building area of approximately 350,000 square meters and an office area of approximately 200,000 square meters, to be a Smart City project in accordance with Energy 4.0 Policy, totaling 48,501,458.44 baht (VAT included).

Gunkul Power Development Co., Ltd. (“GPD”), a subsidiary of the Company have signed a contract with Electricity Generating Authority (EGAT) by procuring and installing solar power generation systems (Solar Rooftop), with a total installed capacity of not less than 580 kW and Battery Energy Storage System (BESS) on the EGAT central office area of approximately 300 rai, divided into a building area of approximately 350,000 square meters and an office area of approximately 200,000 square meters, to be a Smart City project in accordance with Energy 4.0 Policy, totaling 48,501,458.44 baht (VAT included).

Solar Energy Society Co., Ltd. (“SES”), a subsidiary of the Company, has signed a contract for the construction of a solar PV Rooftop system with Murata Electronics (Thailand) Co., Ltd. with a total installed capacity of 3.99 MW, located at the Northern Industrial Estate, Lamphun Province. The contract period is 15 years.

Solar Energy Society Co., Ltd. (“SES”), a subsidiary of the Company has signed a contract for the construction of a solar PV Rooftop with Home Product Center Public Company Limited (HOMEPRO) in order to use in department stores of 18 branches nationwide, a total installed power of 8.29 MW, 15 years contract period.

Gunkul Power Development Co., Ltd. (“GPD”), a subsidiary of the Company, has jointly signed a contract with Provincial Electricity Authority (PEA), a contract for improving the efficiency of the computerized station control system (CSCS) Phase 3, consisting of 8 power stations with a work value of 144.4 million baht.

“Consortium GPD & FEC”Joint venture, has signed the confirmation letter with the Provincial Electricity Authority (PEA) for employment and construction at Sikhio 2 Power Station, Nakhon Ratchasima Province and the employment of constructing the Sung Noen Power Station, Nakhon Ratchasima Province and Sisaket 2 Power Station, Sisaket Province, with a total construction contract value of 501,500,000.00 baht.

“Consortium SKY & FEC” joint venture (See Sang Karn Yotah (1979) Co., Ltd. and Future Electrical Control Co., Ltd., a subsidiary of the Company, has carried out the project to change the aerial electrical system to underground electricity line in order to support being the ASEAN metropolis. This is the inner space project at a distance of 11.7 kilometers, with a total construction contract value of 3,114 million baht (including VAT).

Greenovation Power Co., Ltd. (“GNP”), a subsidiary of the Company which operates wind power plant business. The Company holding 99.99% of registered and paid-up capital, GNP has operated commercial electricity (“COD”) of the Saranlom Wind Farm Project which is located in Tumbon Huay Bong, Amphur Dan Khuntod, Nakhonrachasima province, with total capacity of 60 MW. These projects are supported by the government through adder at 3.50 baht per KW for 10 years started from the commercial operation date.

The Board of Directors of Gunkul Engineering Public Company Limited No. 2/2018 on Tuesday, April 10, 2018 resolved to approve the treasury stock program to maximize benefit from the excess liquidity management of the Company and to signal to investors on the strong financial position of the Company, with the maximum amount that used to repurchase shares not exceeding 1,000 million baht, the maximum amount of repurchased shares not exceeding 300,000,000 shares at a par value of 0.25 baht per share. The number of shares to be repurchased is equal to 4.04% of the total issued shares by specifying the period for the repurchase of shares from April 25, 2018 to October 24, 2018. The totaling repurchased shares in the above program are 93,475,100 shares or 1.26% of the total issued shares of the Company. The total value of all repurchased shares equal to 304,674,256.00baht.

The Annual General Meeting of Shareholders for the year 2018 resolved to approve as follows:

• Approval of the decrease of the registered capital of the Company totaling 513,246,748 shares, or 128,311,687 baht, which were not able to be allocated for dividend payment according to the resolutions of the Annual General Meeting of Shareholders for the year 2017 of 6,421 shares or 1,605.25 baht. The remaining portion of the warrants for the Company’s ordinary shares is 513,240,327 shares or 128,310,081.75 baht from the current listed share of 7,931,868,241 shares or original registered capital of 1,982,967,060.25 baht at the par value of 0.25 baht to be new registered shares of 7,418,621,493 shares at the par value of 0.25 baht or new registered capital of 1,854,655,373.25 baht at the par value of 0.25 baht.
  
  
• Approval of the reorganization of the Board of Directors from 9 to 10 persons so that the Board of Directors has more variety of professional skills and expertise including for more balance of power in the Board of Directors.
  
  
• Approval of the amendment of the Company’s Articles of Association Chapter 4 ‘Shareholders’ Meeting’ Article 24

Korat Wind Energy Co., Ltd. (“KWE”), a subsidiary of the Company operates wind power plant business. The Company holds 99.99% of the registered and paid-up capital. KWE has operated commercial electricity (“COD”) of the Mittraphap Wind Farm Project which is located in Nong Nam Sai Sub-district, Sikhiu District, Nakhon Ratchasima province, with total capacity of 50 MW. These projects are supported by the government through adder at 3.50 baht per KW for 10 years started from the commercial operation date.

The Extraordinary General Meeting of Shareholders No.1/2018 resolved to approve as follows:

• Approved the Gunkul Power Development Co., Ltd. (“GPD”), a subsidiary of the Company which the Company holds 99.99% of the issued and paid-up shares, to enter into the purchase of 10,000,000 ordinary shares of Future Electrical Control Co., Ltd. (“FEC”), representing 100.00% of total issued shares with the par value of Baht 10.00 per share and with the paid-up capital of Baht 47,500,000.00 from existing shareholders of FEC in total not exceeding 650,000,000.00 Baht.
• Approved an amendment of the Articles of Association of the Company, Article 45. “The Company’s Seal”.

The Company received the installation work of Solar Roof for Charoen Pokphand Foods Public Company Limited or CPF in the form of a power purchase agreement with a project value of approximately 1,400 million baht. The Company will be the investor and the system administrator throughout the contract period of 15 years which will install 120,000 solar panels on the roof of the CPF factories in 34 locations, with a total area of approximately 230,000 square meters or comparable to a 40 MW power plant.

Sendai Okura Power Plant project which is located in Sendai Miyagi, Japan with total capacity of 31.75 MW. (38.10 MW: Installed Capacity). This is a project that produces and sells solar power to Tohoku Electric Power Co., Inc. (“Tohoku Electric”) at JPY 36 per unit in feed-in tariff scheme, with 20-year concession period starts from the commercial operation date which has started its commercial operation already.

The Company established a subsidiary company, Gunkul Solar Power 6 Co., Ltd. (“GSP-6”) in order to produce and sell electricity from renewable energy to sell to government agencies. The Company held 99.99% of the registered capital of 100,000,000 baht. (Registered for liquidation)

The Company established a subsidiary company, Gunkul Solar Power Co., Ltd. (“GSP”) in order to produce and sell electricity from renewable energy to sell to government agencies. The Company held 99.99% of the registered capital of 560,999,100 baht (Current registered capital of 599,998,800 baht and the Company holding shares in the ratio of 99.99%).

The Company acquired 48,000 shares in BMP Solar Co., Ltd. (“BMP Solar”). The Company will be entitled to receive dividends from its operations and rights for voting in proportion to 99.99%. This power plant is located at Tha Kwian, Watthana Nakhon District, Sa Kaeo Province. The capacity is 8.0 MW with Feed-in-Tariff (FiT) 5.66 baht per unit for a period of 25 years. The Commercial Operation Date starts from April 29, 2016. (Current registered capital of 980,100 baht and the Company holding 48,010 shares in the ratio of 48.98%).

The Company signed a Memorandum of Understanding between BG Energy Solution Co., Ltd. and Gunkul Power Development Co., Ltd. to launch the Solar Rooftop project for its own use with the capacity of 4.84 MW at Ayudhya Glass Industries factory.

The Company acquired additional 99,999 common shares in Gunkul LED Lighting Co., Ltd. (New mane: Gunkul Energy Solution and Lighting Co., Ltd.) from the existing shareholders or equivalent to 9.99% of the current registered capital, total holding 999,998 shares or equivalent to 99.99% of total shares. (Current registered capital is 100,000,000 baht).

The Company was employed by the Provincial Electricity Authority (“PEA”) for the construction of 33 KV submarine cable to Koh Pra Thong, Phang Nga Province. The construction period is starting from the signing date of the contract 450 days.

is the date on which the remaining warrants to purchase the Company’s ordinary shares No.1 (GUNKUL-W) have been set as listing status termination.

Annual General Meeting of Shareholders for 2016 resolved to:

• Approve the change of the par value per share of the Company from 1.00 baht per share to be 0.25 baht per share
• Approve an increase in the registered capital of the Company in order to support the stock dividend and to accommodate the exercise of the Warrants. The warrants to purchase the common shares of the Company 1 (GUNKUL-W). After the revaluation of capital stock shares. The new capital total 1,416,405,589 baht changed to 1,699,686,359 baht. Issuing new ordinary shares amount 1,133,123,080 shares at par value of 0.25 baht per share.
• Approve the adjustment of the warrants to purchase common shares of the Company No. 1 (GUNKUL-W). As per the exercise Ratio 1 warrant: 1 common share to 1 unit: 4.8 common share, and the exercise price of 27.00 baht per share to 5.625 baht per share.
• Approve the increase in the amount of issuance and offering of debentures in the amount of 2,000 million baht. Thus, from the original limit not exceeding 1,000 million baht, adjusted to a new limit not exceeding 3,000 million baht, not more than 7 years old.

The Company filed a registration with the Department of Business Development, Ministry of Commerce to change the par value of one baht to be 0.25 baht.

The Company informed the information of the establishment of Gunkul Bio Energy Co., Ltd., to produce raw material for the biomass power plant, the Company held 99.94% of the registered capital of 500,000 baht (Current registered capital of 2,000,000 baht)
(October 21, 2019, Gunkul Bio Energy Co., Ltd. changed its name to Gunkul Infinite Group Co., Ltd. in order to support the expansion of the rental, sublease and property management business, production and distribution of electricity from alternative energy or other energy in all respects, including the power plant business for distribution to private and state agencies)

The Board of Directors Meeting No. 6/2016 resolved to approve Gunkul International (Mauritius) (“GIM”), a subsidiary of the Company, to enter into the investment transaction in the GD Utsunomiya solar power plant project. (Changed name into “GD Solar Utsunomiya Godo Kaisha” “GK Utsunomiya”), which locates in Utzunomiya City, Tochigi Province, Japan. The capacity under power purchase of 66.78 MW, Installed of 72.80 MW, The manufacturer and distributor of solar power to the Tokyo Electric Power Company (“TEPCO”) in Japan was awarded the concession to sold electricity to TEPCO in Japan, period 20 years. The rate of purchase power feed-in tariff (FIT) Yen 36 per unit.

The Board of Directors Meeting No. 7/2016 resolved to approve the Company to acquire preferred shares in BMP Solar Co., Ltd. (“BMPS”), which operates the solar power plant business with the capacity of 8.0 MW, at the amount of 48,000 shares, equivalent to 48.98% of the paid-up registered capital, totaling 98,000 shares. (Consisting of 50,000 ordinary shares and 48,000 preferred shares) The Company has the right to receive dividends from operations and voting rights in the proportion of 99.99%. This power plant is located Tha Carter, Watthana Nakhon district, Srakaew Province by receiving the power purchase rate of Feed-in-Tariff (FiT) is 5.66 baht per unit for a period of 5 years. (Current registered capital is 980,100 baht and the Company holding shares in the ratio of 48.98%).

The Extraordinary General Meeting of Shareholders No. 2/2016 passed a resolution as details:

• Approved Gunkul International (Mauritius) (“GIM”), a subsidiary of the Company, to entered into an investment in solar power plant projects in East Japan Solar 13 Godo Kaisha (“GK Iwakuni”) Iwakuni City, Yamanguchi Province, Japan. The production capacity of the project under the Power Purchase Agreement is 75.0 MW (installed capacity 90.0 MW), which has received a concession to sell electricity to Chugoku Electric Power for a period of 20 years at the rate of purchase of feed-in Tariff (FiT) 32 yen per unit.
• Approve the increase in the amount of issuance and offering of debentures in the amount of 3,000 million baht. Thus, from the original limit not exceeding 3,000 million baht, adjusted to a new limit not exceeding 6,000 million baht, not more than 7 years old.

Wind Energy Development Co., Ltd. (“WED”), which is the one of the Company’s subsidiaries, has invested in the wind turbine power plant project. WED has signed the contract in PPA in the capacity of 50 MW of wind turbine power plant from Electricity Generating Authority of Thailand (“EGAT”) as well as the capacity of 8+2 MW with 3.50 baht, adder from Provincial Electricity Authority (“PEA”) for the period of 10 years.

The Company has informed the information technology of investment in the wind turbine power plant of Greenovation Power Co., Ltd. (“GNP”), with a power purchase agreement between GNP and EGAT. This power plant is situated in Huay Bong Sub-district, Dan Koon Tod District, Nakorn Ratchasima Province with the expected complete construction and commercially distribution within the first quarter of 2017.

The Extraordinary General Meeting of Shareholders No. 1/2015 passed the following resolutions:

• Ratified the Company in investing in the capacity of 60 MW wind turbine power plant with Greenovation Power Co., Ltd.
  
  
• Ratified the Company in investing in the capacity of 31.75 MW solar cell power plant; Sendai Okura Mega Godo Kaisha (“GK Sendai”) (Changed name into “Sendai Okura GD Daiichi Godo Kaisha”) in Japan
  
  
• Approved the Company in purchasing 67% of ordinary shares of Infinite Alternative Energy Co., Ltd. (“IAE”) which is a shareholder of Rang Ngern Solution Co., Ltd. (“RNS”). RNS is the counterparty in the power transaction of the solar cell power plant and the capacity of 87 MW. (Current registered capital of IAE is 1,564,000,000 baht and RNS is 1,355,000,000 baht)
  
  
• Approved the Company in investing in the capacity of 33.50 Megawatts (MW) solar cell power plant; Kimitsu Okura Mega Solar Godo Kaishi (“GK Kimitsu”) (Changed name into “Kimitsu Mega Solar Godo Kaisha”) in Japan by production and distribution of electricity from solar power to the Tokyo Electric Power Company (TEPCO) in Japan.
  
  
• Approved the Company in acquiring source of investment fund as the capital increase by issuing the newly ordinary share to the Company’s existing shareholders in proportion to their respective shareholding (Right Offering) and issue the warrant certificate to the Company’s existing shareholders who wish to exercise their right in purchasing the ordinary shares of the Company. These newly ordinary shares issuance for Right Offering shall be not more than 274,981,118 shares at the par value of Baht 1 per share. Details are as follows:
  • Issuing not more than 183,320,745 newly ordinary shares at the par value of 1 baht per share to the existing shareholders of the Company in proportion to their respective shareholding (Right Offering) of 6 existing shares to 1 unit of warrants (disregarding the fraction). The offering price is 22 baht per share.
    In the event, that there are remaining amount of the newly issued ordinary shares after the issuance to the existing shareholders of the company, the company shall allocate such amount to the shareholders who express their intention in purchasing the newly issued ordinary shares apart from the proportion to their respective shareholding until the full amount is completely allocated, unless the remaining is the fraction which cannot be allocated or no more shareholder expresses personal intention in purchasing the newly issued ordinary shares.
  • Issuing not more than 91,660,373 newly ordinary shares at the par value of 1 baht per share to the existing shareholders of the Company in proportion to their respective shareholding (Rights Offering) of 2 existing shares to 1 unit of warrants for the exercise of right of GUNKUL-W.

The Company informed the information of the establishment of GO Bioenergy Co., Ltd. to conduct electricity business from biomass which the Company holds 74.90% of the shares and Outgrow Energy Consult Co., Ltd. holds 25.10% of the registered capital of 34,300,000 baht. (Current registered capital is 34,300,000 baht)

The above company has acquired 99.99% of the shares in Outgrow A Co., Ltd., Outgrow B Co., Ltd., Outgrow D Co., Ltd., Outgrow E Co., Ltd., Outgrow Wood Supply A Co., Ltd. and Outgrow Wood Supply B Co., Ltd. which are all doing a business about electricity from biomass power.

The Company has made a purchase transaction of 150,000 ordinary shares in Gunkul LED Lighting Co., Ltd. (Current name: Gunkul Energy Solution and Lighting Co., Ltd.) from the original shareholders, equivalent to 15% of the registered capital. In total, the Company holds 899,999 shares, representing 90% of the total shares. (Current registered capital is 100,000,000 baht and the Company holding shares in the ratio of 99.99%)

The Company has made a purchase transaction of 255,000 ordinary shares in Eco Thai Energy Co., Ltd., representing 51% of the 500,000 registered shares or registered capital of 50,000,000 baht. (Current registered capital is 76,500,000 baht and the Company holding shares in the ratio of 51%).

The Company established a subsidiary company, Gunkul LED Lighting Co., Ltd., to operate the production and distribution of LED lighting products (LED) which the Company held stakes of 74.79% of their respective 10,000,000 baht, registered capitals.
(On February 21, 2018, Gunkul LED Lighting Co., Ltd. changed its name to Gunkul Energy Solution and Lighting Co., Ltd., by expanding the objectives to conduct a full range of electrical system services). (Current registered capital is 100,000,000 baht and the Company holding shares in the ratio of 99.99%).

The Company had acquired additional ordinary shares in the amount of 31,563,000 shares, equivalent to 30% of the total registered capital of 1,052,100,000 shares of Wind Energy Development Co., Ltd. from Impact Energy Asia Co., Ltd., which operates in the production and distribution of electricity from wind power. (current capital: 1,575,000,000 baht and the Company holding shares in the ratio of 99.99%).

The Company had established a new subsidiary to carry out the Generating Electrical Power and Engineering Procurement and Construction named Gunkul Solar Community Co., Ltd., in which the registered capital of 1,000,000 at par value of 100 baht (Current registered capital 20,000,000 baht and the Company holding shares in the ratio of 99.99%).

Gunkul International (Mauritius) (GIM), a subsidiary of the Company, purchased shares of Sendai Okura Mega Solar Godo Kaisha (“GK Sendai”), which is incorporated in Japan by operating the solar power plant business with 31.75 Megawatts (MW) contract capacity (38.10 Megawatts installed capacity) located in Miyaki, Japan. GK Sendai produces electricity from solar energy and sells the electricity to Tohoku Electric Power Co., Inc. (“Tohoku Electric”) in Japan, the local utility, at JPY 36 per unit in feed in tariff scheme of a period 20 years which the Company invests in the ratio of 100%. (Changed name into “Sendai Okura GD Daiichi Godo Kaisha”)

The Company sold common shares in Gunkul Powergen Co., Ltd. to Chubu Electric Power Gem B.V., Japan in the amount of 4,860,800 shares, equivalent to 49.00% of the registered capital of 992,000,000 baht. (The current registered capital is 992,000,000 baht and the Company holds 51.00% of the shares.)

Establishment of Siam Wind Energy Co., Ltd., which operates production and distribution of electricity from renewable energy by emphasized on wind energy. The Company holding shares at the ratio of 40% of the registered capital 1,000,000 baht. (This company registered the dissolution of the company on June 19, 2017 and the liquidation was completed on August 2, 2017.)

The Company registered the Establishment of Gunkul International (Mauritius) (“GIM”) in the Republic of Mauritius. The Company held a stake of 100% of the 12,000 USD registered capital in GIM and establish Gunkul International (Singapore) Pte. Ltd. (“GIS”) and Gunkul Myanmar Power (Hlawga) Pte. Ltd. (“GMP”) in Singapore. GIM held a stake of 100% of the 28,000-SGD registered capital in GIS, and GIS held a stake of 100% of the 14,000-SGD registered capital in GMP with the objective of expanding investment in foreign companies

(GIS registered the dissolution of the company on June 4, 2019, and GMP changed the company name to Gunkul International Investment (Singapore) Pte. Ltd. (“GII”) in which GIM holds shares directly in GII.) (Currently, GIM has a registered capital of 134,825,624 USD and GII has a registered capital of 284,829-SGD.)

Gunkul Powergen Co., Ltd. changed its name to Gunkul Chubu Powergen Co., Ltd.

The Company has established a subsidiary company, Siam Gunkul Solar Energy Co., Ltd. to operate the business of producing and distributing electricity from power plants installed on the roof, registered capital 1,000,000 baht, with a par value of 100 baht. (Current registered capital 40,900,000.00 baht and the Company holding shares in the ratio of 99.99%)

The Company established Gunkul Solar Roof 1 Co., Ltd. (GSR-1), Gunkul Solar Roof 2 Co., Ltd. (GSR-2), Gunkul Solar Power 1 Co., Ltd. (GSP-1), Gunkul Solar Power 2 Co., Ltd. (GSP-2), Bright Green Power Co., Ltd. (BGP) and Solar Energy Society Co., Ltd. (SES) in order to operate the production and distribution of electricity from power plants that installed on the roof, in which the Company holds 99.97% of the registered capital of 1,000,000 baht

BGP has expanded the business to invest in companies that related to the renewable energy business

Gunkul Solar Roof 2 Co., Ltd. (“GSR-2”) changed name into Gunkul Training Center Co., Ltd. (“GTRC”) with the purpose of education services, management of seminars, training management and other related to education.

(The current registered capital of GSR-1 is 21,000,000 baht, GTRC is 1,000,000 baht, GSP-1 is 100,000,000 baht, GSP-2 is 100,000,000 baht, BGP is 190,000,000 baht and SES is 500,000,000 baht. The Company held stakes in GSR-1, GSP-1, GSP-2, BGP, SES as 99.99% and in GTRC as 99.97%).

The Company established Gunkul Power Development Co., Ltd. to operate the solar rooftop power generation and distribution for supplying to the Provincial Electricity Authority and the Metropolitan Electricity Authority, as well as to operate businesses of constructing power plant and distributing equipment for electrical and other systems related to power plant construction. The Company held a stake of 99.99% of the 1,000,000 baht registered capital (The current capital is 300,000,000 baht and the Company holding shares in the ratio of 99.99%).

WHA Corporation PCL, established WHA Gunkul Green Solar Roof 1 Co., Ltd. (WHA_GSR-1), WHA Gunkul Green Solar Roof 2 Co., Ltd. (WHA_GSR-2), WHA Gunkul Green Solar Roof 3 Co., Ltd. (WHA_GSR-3), WHA Gunkul Green Solar Roof 4 Co., Ltd. (WHA_GSR-4), WHA Gunkul Green Solar Roof 5 Co., Ltd. (WHA_GSR-5), and WHA Gunkul Green Solar Roof 6 Co., Ltd. (WHA_GSR-6), in which the Company held stakes of 25.01% of their respective 1,000,000 baht registered capitals, to operate solar rooftop power generation and distribution business for supplying to the Provincial Electricity Authority and the Metropolitan Electricity Authority. (Currently registered capital of WHA_GSR-1 is 11,500,000 baht, WHA_GSR-3 is 14,500,000 baht and WHA_GSR-6 is 14,500,000 baht and the Company still holding shares in the ratio of 25.01%. For WHA_GSR-2, WHA_GSR-4 and WHA_GSR-5 completed liquidated the companies).

WHA Corporation PCL established WHA Gunkul Green Solar Roof 8 Co., Ltd., WHA Gunkul Green Solar Roof 9 Co., Ltd., WHA Gunkul Green Solar Roof 10 Co., Ltd., WHA Gunkul Green Solar Roof 16 Co., Ltd., and WHA Gunkul Green Solar Roof 17 Co., Ltd., which the Company held stakes of 25.01% of their respective 100,000 baht registered capitals, to operate solar rooftop power generation and distribution business for supplying to the Provincial Electricity Authority and the Metropolitan Electricity Authority. (Currently registered capital of and WHA_GSR-17 is 16,000,000 baht and the Company still holding shares in the ratio of 25.01%. For WHA_GSR-8, WHA_GSR-9, WHA_GSR-10 and WHA_GSR-16 completed liquated the companies).

The Company acquired the shares of Wind Energy Development Co., Ltd. from Impact Energy Asia Co., Ltd., which operates production and distribution of electricity from wind energy. This is a power purchase agreement with the Electricity Generating Authority of Thailand, in the amount of 1 contract of 50 MW and the Provincial Electricity Authority of 2 contracts of 8 MW and 2 MW, totaling 60 MW and has been supporting the electric margin (Adder) 3.50 baht per unit, the Company acquired the common stock of 5,460,000 shares, representing a stake of 70% of the registered capital 78,000,000 baht. (Current registered capital 1,575,000,000 baht and the Company holding shares in the ratio of 99.99%)

The Stock Exchange of Thailand added GUNKUL securities as new securities on the Stock Exchange of Thailand.

GUNKUL securities traded on the Stock Exchange of Thailand for the first day (First Day Trade).

The Company acquired the common stock of G-Power Source Co., Ltd. which operates in the production and distribution of electricity from solar energy and being a party with the Provincial Electricity Authority (PEA) which has 4 contracts of power purchase agreements in a total of 26 Megawatts (MW) with a period of 25 years and is supported by an additional electricity charge of 8.00 baht per unit for a period of 10 years. This project also receives promotional privileges from the Board of Investment (BOI). The Company has purchased 9,898 ordinary shares, holding 98.98% of the registered capital of 1,000,000 baht (Current registered capitals: 930,000,000 baht and the Company holding shares in the ratio of 40%)

Gunkul Powergen Co., Ltd. signed a power purchase agreement with the Provincial Electricity Authority to produce and sell electricity from solar energy, with a total of 5 contracts for a total of 30.9 megawatts of solar power for a period of 25 years. The price for the electricity purchase (Adder) from the Provincial Electricity Authority at the price of 8.00 baht per unit for a period of 10 years, including the project is also received a benefit of investment support from the Board of Investment (BOI).

The Company is transformed into a public limited company and changed its name to “Gunkul Engineering Public Company Limited”.

Establishment of Gunkul Powergen Co., Ltd. with registered capital of 100,000,000 baht to produce and sell electricity from renewable energy. (Current registered capital: 992,000,000 baht and the Company holding shares in the ratio of 51%)

Establishment of G.K. Power Product Co., Ltd. (Formerly known as Kerney (Thailand) Co., Ltd.), with registered capital of 2,600,000 baht. (Current registered capital: 100,000,000 baht and the Company holding shares in the ratio of 99.99%)