AJ Advance Technology Company Limited would like to inform that on September 17, 2021, the Company has signed a Memorandum of Understanding with Cho Thavee Public Company Limited to study the structure of electric motorcycle parts and pricing. For the possibility of producing, assembling, whole or partial electric motorcycles and electric motorcycle batteries, which is to reduce the cost of electric motorcycles manufacturing and sales and also after-sales services. This Memorandum of Understanding is only a collaboration to study the feasibility according to the above objectives.

It is expected to be clarity within 2021, if this project cannot be accomplished. This Agreement will be terminated and will not be binding on both parties in anyway.