Starflex Public : Report on the utilization of the increased capital from the initial public offering (IPO)

Ref. SF 023/2022

July 27, 2022

Subject: Report on the utilization of the increased capital from the initial public offering (IPO)

To:	Director and Manager The Stock Exchange of Thailand

According to the initial public offering for newly issued ordinary shares of Starflex Public Company Limited ( "Company") during the subscription period from 11-13 December 2019 in the amount of 110 million shares at Baht 3.88 per share, and the Company has received Baht

1. million, after deducted all IPO-related expenses, the Company has IPO balance Baht

1. million

The Company would like to report the above proceeds utilization as of June 30, 2022 as follow.

				Proceeds			Remaining of			Use of Proceeds			Remaining of
	Objectives*					Proceeds as of					Proceeds
			Utilization					As of June
	(Unit: Baht Million)					December 31,					as of June
			Plan *					30, 2022
						2021					30, 2022
1.	Sealant film production	62.10		14.74		2.94		11.80
2.	Warehouse construction	50.00		-		-		-
3.	Loan repayment	95.00		-		-		-
4.	Use as a working capital	130.15		-		-		-
5.	Machineries to improve	70.70		3.16		0.21		2.95
	efficiency and capacity
	Total	407.95		17.90		3.15		14.75

• Approved from the Company Board meeting #5 at 13 May 2020 and reported to Annual Shareholder General Meeting of 2020 at 24 June 2020

Please be informed accordingly

Sincerely yours

(Mr. Somchai Wongrassamee)

Chief Financial Officer

Starflex Public Company Limited
189/48-49 M 3, Theparak Rd,
Bangprieng, Bangbo	District,	T :	66	(02)	708-2555	W	: www.starflex.co.th
Samutprakarn 10560	Thailand	F :	66	(02)	708-2355	M	: [e-mail]