Singer Thailand Public Company Limited informed the significant resolutions of the Board of Directors Meeting No. 270, held on July 1, 2024. The meeting has resolved to approve the company to provide financial assistance to SG Capital Public Company Limited (SGC), a subsidiary in which the Company holds 74.92% of the total paid-up capital.

The meeting approved a loan in a total amount of not exceeding THB 6,100 million, which will serve as a reserved loan for SGC to draw down in order to pay off existing debts owed to the Company in the event that SGC needs to maintain financial liquidity by using it as working capital for its business operations. The details are as follows: SGC shall be used as a reserve for the repayment of existing debts owed to the Company only. Float Rate based on the average of Minumum Loan interest rate for prime large customers (MLR) of the four large commercial banks, including Bangkok Bank Public Company Limited, Krung Thai Bank Public Company Limited, Kasikorn Bank Public Company Limited and Siam Commercial Bank Public Company Limited, (as of 21 June 2024, is 7.12% per annum) plus a premium at the rate of 0.25% per annum, or SINGER's actual financing cost plus a premium at the rate of 0.25% per annum, whichever is higher.

From the date 1 January 2025 until 31 December 2025. SGC has the right to drawdown the loan in multiple times, and each loan drawdown will occur when the following conditions are met: (1) SGC's original debt is due, and (2) SGC needs to maintain financial liquidity by using it as working capital for its business operations. If there is an undisbursed loan facility.

The Company will automatically cancel the remaining loan facility. Regardless of when the loan is drawdown, all principal and interest must be repaid by December 2028. Interest must be paid on the last business day of the month, and principal payment must be made within December 31, 2028.

However, if SGC has excess liquidity, SGC can repay all principal before the maturity date.