Bangchak Reaffirms Commitment to Corporate Governance Reserves the Right to Take Legal Action Against Misleading Information

Following the recent dissemination of information, video clips, and media reports concerning the business operations and investments of Bangchak Corporation Public Company Limited and companies within the Bangchak Group across various media channels and social media platforms, the Company would like to clarify that Bangchak and its group companies remain firmly committed to conducting business in accordance with the principles of corporate governance, transparency, and good governance practices. Any significant investment or transaction undertaken by the Company and its group companies must be reviewed and approved by the Company’s Board of Directors, which serves as the final decision-making authority.

Recently, issues have arisen concerning certain shareholders following investments by a group of investors whose Ultimate Beneficial Owners could not be clearly identified and whose assets have since been frozen by the relevant authorities. In response, the management acted prudently and to the best of its ability to protect the Company from risks that could potentially affect business operations, including risks associated with secondary international sanctions. The Company consulted internationally recognized legal advisors to assess the appropriate approaches and necessary actions under applicable laws and corporate governance principles. In addition to revising the authority framework of the Board of Directors, the Company also proposed amendments to the Company’s Articles of Association under Agenda Item 7 at the 2026 Annual General Meeting of Shareholders held in April.

Although the proposed agenda was approved by more than two-thirds of the shareholders attending and voting at the meeting, it did not meet the 75% threshold required by law. Nevertheless, the management continues to uphold its commitment to conducting business with integrity, transparency, and its refusal to accept grey capital influence. The Company has clearly communicated its position of “Bangchak Stands Against Grey Capital” through employee meetings and internal communications.

Subsequently, reports, video clips, and online content continued to be disseminated through various media channels and social media platforms. The Company considers certain content to contain misleading and distorted information, resulting in damage to the credibility and reputation of the management and the Company.

The Company reserves the right to take legal action against any dissemination or forwarding of false, misleading, distorted, or unfair information that causes damage to the Company, its management, and related parties.