STRUCTURE AND BUSINESS OPERATION

Netbay Public Company Limited (“NETbay”) was established on November 19, 2004 with a registered capital of 10 million Baht, under a joint venture between a group of shareholders and the executives of Software Link Company Limited (“Software Link”), an electronic transactions software development company (e-Business) and Internet Thailand Public Company Limited (“INET”), Thailand’s first internet service provider. NETbay conducts business onninventing, creating and developing various Digital Business Technology Platforms and e-Business Services Applications in order to provide comprehensive e-Business Services between Business-to-Government (B2G) and Business-to-Business (B2B).

Digital Business Services

Since its establishment, the Company has continuously increased its capital through retained earnings and dividend reinvestment, growing from THB 10 million to THB 160 million in paid-up capital

On April 22, 2014, the Company increased its registered capital to THB 200 million through an additional issuance of THB 40 million in shares, in preparation for its listing on the Market for Alternative Investment(MAI). The Company was officially listed on June 16, 2016, and currently maintains a fully paid-up registeredcapital of THB 200 million.

Netbay Public Company Limited is principally engaged in the innovation, design, and development of Digital Business Technology Platforms for electronic transactions (Digital Business Services). The Company delivers these solutions through a fully integrated Software as a Service (SaaS) model, serving Businessto-Government (B2G), Business-to-Business (B2B), and Business-to-Consumer (B2C) segments.

Users of the Company’s electronic transaction systems benefit from enhanced operational efficiency in line with the Company’s vision of “Better, Faster, Cheaper.” The Company generates revenue through a pay-pertransaction model and subscription-based services(monthly fees).

The Company delivers its electronic transaction systems to various organizations through a fully integrated Software as a Service (SaaS) model. The service offering comprehensively covers Data Center infrastructure, Disaster Recovery Center, Platform as a Service (PaaS) developed by the Company to support electronic transaction systems, application systems, network infrastructure, and information security.

This integrated service model enables organizations to access advanced IT systems without requiring significant capital investment (Cheaper), while allowing rapid system deployment (Faster), improving operational efficiency, and reducing complexity in system procurement, design, development, implementation, and maintenance (Better).

The Company’s services serve as critical business infrastructure across multiple industries. Initially, the Company focused on serving the e-Logistics Community, where its solutions play a key role in enhancing operational efficiency, enabling seamless data integration, and streamlining business processes. The platform also reduces reliance on labor-intensive processes that are prone to human error and high costs. As a result, the Company’s services contribute significantly to reducing logistics costs for customers while enhancing the competitiveness of both its clients and Thailand’s overall economy.

As the electronic transaction systems developed and provided by the Company are essential for customers to operate their businesses efficiently and in compliance with applicable regulations, the Company generates recurring revenue from its continuous service provision (Recurring Revenue).

This service model eliminates the need for inventory holding (carrying cost of inventory) and reduces distribution costs associated with delivering products or services to customers, unlike traditional business models.

Digital Business Services

Digital Business Services

Netbay provides electronic transaction services across both Business-to-Government (B2G) and Business-toBusiness (B2B) sectors. The Company’s Digital Business Services portfolio serves a wide range of industries, with its core customer base currently concentrated in the e-Logistics Community.

Customers are offered key service options, including:

• Electronic customs clearance services (e-Customs Paperless)
• Electronic customs processing for express shipments (e-Express)

The primary users within the e-Logistics Community include:

• Importers and exporters
• Customs brokers (shipping agents)
• Freight forwarders
• Shipping lines
• Air cargo operators
• Other logistics service providers

The Company also provides integrated services on a single platform, including:

• e-Payment services (Customs e-Payment) for electronic duty and tax payments
• e-Manifest systems for reporting inbound and outbound cargo data

Key users of e-Manifest services include airlines(terminal operators), shipping lines, shipping agents,and land transportation operators, all of whom are required to submit cargo reports to the Customs Department

In addition, the Company provides:

• Electronic cargo manifest data exchange for maritime transport (sea e-Manifest)
• Cargo movement documentation via the National Single Window (NSW) system of the Port Authority of Thailand (Bangkok Port and Laem Chabang Port)

These services facilitate seamless data integration between government agencies and private sector entities.

Extended Digital and Regulatory Services

Beyond the e-Logistics Community, the Company also provides:

• e-GP Portal services (electronic bank guarantee data exchange between financial institutions and the Comptroller General’s Department)
• e-Tax Invoice and e-Receipt systems for electronic tax reporting to the Revenue Department
• Electronic data preparation, submission, and storage solutions

The Company also provides electronic VAT refund services for tourists (PP.10), enabling retail operators to generate and submit VAT refund documentation efficiently based on electronic tax invoice data.

Product Innovation - AI-BOX

In 2025, the Company launched a new product under the name “AI-BOX”, designed to support document management across a wide range of industries. AI-BOX enhances:

• Business agility
• Operational efficiency
• Document workflow automation

Target customer segments include:

• Retail businesses
• Nano finance operators
• Logistics companies

The platform strengthens business competitiveness by enabling faster, more efficient, and more compliant document management processes

Further details are available at: https://www.i-box.app

Continuous Innovation and Business Development

The Company remains committed to continuous research and development of its products and services. These efforts support both public and private sectors in enhancing operational efficiency, strengthening competitiveness, and contributing to sustainable economic development, while maintaining cost-effective service delivery.

Subsidiaries and Business Expansion

Netbay holds 100% ownership in:

• Cloud Creation Company Limited
• Fynnet Ventures Company Limited

Cloud Creation Company Limited

Provides:

• Electronic Transaction Reporting (ETR Gateway)
• Customer Due Diligence (CDD Gateway)
• Risk screening systems (high-risk individuals and designated persons)
• Data management systems for regulatory reporting

Fynnet Ventures Company Limited

Provides comprehensive digital platforms for:

• Anti-Money Laundering (AML) compliance
• IT Compliance solutions

Services include:

• Customer due diligence (CDD/KYC)
• Transaction monitoring and regulatory reporting to AMLO
• Identity verification systems for financial institutions
• Electronic contract management systems
• Integration with e-Stamp Duty (Revenue Department)

Target clients include:

• Banks
• Insurance companies (life and non-life)
• Securities companies
• Asset management companies
• Finance companies
• Regulated businesses under the Anti-Money Laundering Act

These solutions help organizations enhance operational efficiency, ensure regulatory compliance, and strengthen governance frameworks.

Fynnet Ventures Company Limited

The Company aims to become a leader in the development of comprehensive e-Business products and services by leveraging fully integrated Software as a Service (SaaS) technologies. The Company is committed to delivering maximum customer satisfaction while playing a vital role as part of Thailand’s digital infrastructure, enhancing operational efficiency across multiple industries, enabling seamless data connectivity, and strengthening the country’s competitiveness to achieve stable and sustainable growth

The Company continues to develop digital platforms and innovative solutions by integrating advanced technologies such as Artificial Intelligence (AI) and Regulatory Technology (RegTech) to enhance its services. These initiatives enable businesses to operate more efficiently and comply with regulatory requirements more effectively, while delivering greater value through the Company’s digital solutions

In addition, the Company is committed to building a Digital Business Ecosystem that connects businesses, government agencies, and end-users. This ecosystem supports the development of Thailand’s digital economy and drives sustainable long-term growth.