Sahakol Equipment Public Company Limited (SQ) will convene a bondholders’ meeting for SQ256A, SQ25NA, SQ25NB SQ266A SQ275A and SQ285A series on 17 October 2025 at 14.00 hours in a hybrid format, at the company’s Head Office (Meeting Room, 1st Floor), No. 47/10, Soi Amornphan 4, Vibhavadirangsit Road, Lad Yao Subdistrict, Chatuchak District, Bangkok, and via electronic media. The matters for consideration are as follows:   

          For two series (SQ25NA and SQ25NB):
          (1) Revoking the resolution of the Bondholders’ Meeting No. 2/2025 convened on 24 September 2025, which granted an exemption from the event of default regarding the request for debt restructuring with financial institutions and/or other creditors for actions to be taken within a period of one year from the date of the Bondholders’ Meeting No. 2/2025.    For four series (SQ256A, SQ266A, SQ275A and SQ285A):
          (1) Granting an exemption from an event of default for the company’s actions or actions that may be deemed to have been taken, in initiating negotiation or entering into any agreement with one or more creditors, for the purpose of debt restructuring,  occurring prior to and up to the time this bondholders’ meeting passes the approving resolution;
          (2) Revoking the acceleration of all outstanding bonds that have not yet matured, and exempting and cancelling any actions of the bondholders’ representative related to such event of default, including the exemption and cancellation of any default interest claims, as well as the exemption and cancellation of any actions to be taken against the company to enforce payment of debts that have been accelerated and the determination of the accelerated payment due date.

          For five series (SQ25NA, SQ25NB, SQ266A, SQ275A and SQ285A):
          (1) Extending the maturity periods of the bond series as follows**:
               - SQ25NA and SQ25NB series extended by two years and nine months
               - SQ266A series extended by two years and six months
               - SQ275A series extended by one year and nine months
               - SQ285A series extended by one year
          (2) Dividing the principal repayment into installments***, as follows:
               - SQ25NA, SQ25NB and SQ266A series divided into four installments, starting from 5 percent, 10 percent, 35 percent and 50 percent, respectively;
               - SQ275A series divided into three installments, starting from 15 percent, 35 percent and 50 percent, respectively; 
               - SQ285A series divided into two installments, starting from 35 percent and 65 percent, respectively.  
          (3) Granting an exemption from the cross default arising from the issuance of notices demanding the company to make immediate repayment of debts under certain bond series, and requiring repayment by 3 October 2025, with an aggregate amount exceeding 700 million baht, in respect of SQ25NA, SQ25NB, SQ266A, SQ275A and SQ285A series.

          For all six series:
          (1) Increasing the bond interest rates throughout the extended maturity periods, as follows:
               - For the SQ25NA, SQ25NB, SQ266A and SQ275A series, increase the interest rate in two stages: first, an increase of 0.50 percent per year from the original rate applicable to each series; and second, a further increase to 6.50 percent per year;  
               - For the SQ256A series: an increase of 0.25 percent per year from the original rate;   
               - For the SQ285A series: an increase of 0.50 percent per year from the original rate;
          (2) Requesting additional revisions to the terms and conditions, with details as follows:
               - Granting the bond issuer the right to redeem the bonds prior to their maturity dates (call option) for the SQ25NA, SQ25NB, SQ266A, SQ275A and SQ285A series;
               - Revising the provisions on early redemption by the bond issuer (call option) to align with the early redemption terms applicable to all bond series of the company, with respect to the SQ256A series.    
          (3) Imposing additional obligations on the bond issuer, with details as follows:       
               - Opening a designated bank account and deposit funds therein as a reserve for the bond debt repayment, with the bondholders’ representative having the sole authority to withdraw funds from the account for the purpose of paying principal amounts due under the bonds. Any change to the withdrawal authority of such account without prior consent from the bondholders’ representative shall constitute an event of default resulting in immediate acceleration of the bond debt; 
               - Completing the registration of a business security over the deposit account as collateral for the bond repayment within 14 days for the SQ266A series, and within 30 days for the SQ256A, SQ25NA, SQ25NB, SQ275A and SQ285A series, from the date on which the bondholders’ meeting passes the approving resolution;   
              - Completing the registration of a mortgage over the company’s land and buildings as collateral for bond repayment in favor of the bondholders’ representative within 14 days for the SQ266A series, and within 30 days for the SQ256A, SQ25NA, SQ25NB, SQ275A and SQ285A series, from the date on which the bondholders’ meeting passes the approving resolution.  
          (4) Granting an exemption from an event of default for any action or any consequence arising from any action clarified by the company in the notices convening the bondholders’ meetings and/or at this bondholders’ meeting, which occurred prior to and up to the time this bondholders’ meeting passes the approving resolution. 

The SEC requires that the bondholders’ representatives analyze the benefits and shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective supporting reasons and the opinions of the bondholders’ representatives. The bondholders are, therefore, encouraged to thoroughly review the information and exercise their rights to protect their own interests. They should also make necessary inquiries to the bondholders’ representatives to obtain comprehensive information before making a voting decision at the bondholders’ meeting.      

Remarks:
(1) Bank of Ayudhya Public Company Limited is the bondholders’ representative for three bond series, as follows:   
          - SQ25NA series due on 4 November 2025
          - SQ25NB series due on 4 November 2025
          - SQ256A series due on 19 June 2028         
(2) Asia Plus Securities Co., Ltd. is the bondholders’ representative for three bond series, as follows: 
          - SQ266A series due on 20 June 2026         
          - SQ275A series due on 22 May 2027
          - SQ285A series due on 22 May 2028