Zoho Sign Document ID: G93Y-DNKZFZOOLEAOI-TVQ6QCXKWAKLKOUKPV524CK0

WELL GRADED ENGINEERING PLC.

Ref.: WGE-SEC/2565/008

1st August 2022

Subject : Report on the Utilization of Proceeds Initial Public Offering (IPO)

Attention : The President

The Stock Exchange of Thailand

With reference to Well Graded Engineering Public Limited Company ( "the Company") 's Initial Public Offering ( IPO) of newly issued ordinary shares totaling 160,0 0 0 ,0 0 0 shares at the offering price of THB 2.30 per share on 26-28 October 2020, the Company received THB 356.96 million in aggregate net proceeds.

The Company would like to report the utilization of such proceeds as of 30 June 2022 as set forth below.

(Unit : Bath million)

Objectives of the Use

Approximate

Accumulated Use

Accumulated Use

Remaining Net

of Proceeds

Use of Net

of Net Proceeds

of Net Proceeds

Proceeds as

Proceeds

at 31 Dec. 2021

for the Period of

at 30 Jun 2022

1 Jan. -30 Jun, 2022

1.

Working capital

276.96 1

276.96

-

-

2.

Expand warehouse

50.00

29.04

20.96

-

3.

Buying machinery and

30.00

30.00

-

-

construction equipment

Total

356.96

336.00

20.96

-

1 Received Net Proceeds in aggregate is higher than Approximate Net Proceeds in Prospectus of amount THB 7.90 million because the

company deducted cost of Initial Public Offering (IPO) from proceeds received, only the underwriting fee and underwriting warranty. For other expenses in issuing and offering, the company recorded it as an expense according to the accounting period incurred.

This is for investors to be acknowledged accordingly.

Yours sincerely,

e-Signature by เกรียงไกร บัวนุ่ม

MR. KRIANGKRAI BUANOOM

Company Secretary

Company Secretary office

Telephone: 02-981-7992-4 ext. 201

Well Graded Engineering Public Company Limited

50/1203 Village No.9 Bangpood Sub-district, Pakkret district, Nonthaburi Province 11120 Tel. 02-9817992-4

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Well Graded Engineering pcl published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 14:04:01 UTC.