Osotspa Restructures Board of Directors, Appointing Mr. Surin Osathanugrah As Honorary Chairman and Mr. Somprasong Boonyachai As Chairman

Osotspa Public Company Limited announced the restructuring of the Board of Directors, appointing Mr. Surin Osathanugrah as an Honorary Chairman and Mr. Somprasong Boonyachai as a Chairman of the Board, to enhance the professional power to drive an organization towards strong and sustainable growth in Thailand and in the CLMV region, effective January 1, 2022.

Mrs. Wannipa Bhakdibutr, Chief Executive Officer of Osotspa Public Company Limited or OSP, Thailand's leading manufacturer and distributor of consumer products, revealed a restructuring of its board of directors. Osotspa is aware of its duties in complying with the principle of good governance, especially the duties and responsibilities of the Board of Directors, who are organization leaders creating sustainable value for the business. The Company also aims to encourage independent directors to play a role, to transfer their knowledge and to use their professional experience to drive sustainability and organizational growth. The Board of Directors' meeting, therefore, approved the appointment of Mr. Surin Osathanugrah (former Chairman) as an Honorary Chairman as he is highly qualified with distinctive knowledge, competence as well as rich experience in the consumer products business. Mr. Surin has greatly contributed to the company. He has served the Company as the Chairman of the board since Osotspa was a family business until it became a successful company listed on the Stock Exchange of Thailand and widely recognized by Thai and foreign investors. . Also, the Company has appointed Mr. Somprasong Boonyachai (former Vice Chairman) as a Chairman of the Board, and Gen. Surapong Suwana-adth (former Director) as a Vice-Chairman.

In addition, the board of directors of "Osothspa Foundation" has also been restructured. Lt. Seree Osathanugrah, former Director of Osotspa, has been invited to serve as a Chairman of the Osotspa Foundation. The 4th and 5th generations of the Osathanugrah family have also been invited to be directors of the Osotspa Foundation. This board restructuring was undergone with an aim to prepare the business succession as well as to carry on the intention of Osotspa Foundation and the Company’s direction from generation to generation.