Auction for satellite orbital slot packages licences from the National Broadcasting and Telecommunications Commission (NBTC)

     Concerning, mu Space and Advanced Technology Co., Ltd. (the “Company”) did not submit documents to participate in the auction for satellite orbital slot packages licenses from the NBTC. The Company would like to clarify the reasons and details as follows.

     After careful consideration of the Company’s business plan, both economically and strategically, the Company decided not to participate in
the auction. However, according to the latest announcement from the NBTC to postpone the auction for satellite orbital slot packages licenses (with an extension period for obtaining documents and submitting applications for permission) for another 30 days starting from July 8, 2021, the Company is well informed and will again consider its bidding options through the business evaluation process.

     Additionally, the Company’s Board of Directors and shareholders have resolved to proceed according to the Company’s business plan to focus on manufacturing and developing self-made satellites using new technologies. In this regard, the Company has ensured strategic locations for its factory and high-performance machinery to design & manufacture in-house satellites. The advancement of the Company’s development and manufacturing capability of satellite production will significantly benefit Thailand in several aspects; for example, increase in knowledge and abilities of skilled workers in the satellite industry, increase in the employment rate, and raise income for highly skilled workers. Undoubtedly, the Company’s satellite production will improve the country’s ability to compete internationally and generate revenue. With the aforementioned, the Company is confident in proudly leading Thailand to the international satellite and space industry.

     In addition, the Company would like to express sincere appreciation for the NBTC and related agencies for giving the opportunity to participate in
the auction as well as a thorough consideration to ensure optimum benefits for the country.

mu Space and Advanced Technology Co., Ltd.

9 July 2021