"Kerry Express Clarifies Not Yet Taken Over by SF, who is still in Initial Stage of Mandatory Tender Offer Process."

Kerry Express (Thailand) Public Company Limited or KEX states that SF International Holding (Thailand) Co., Ltd. (SF THAILAND) is required by securities laws to make Mandatory Tender Offer (Mandatory Tender Offer) for all shares of KEX, and only acquire shares of KEX from the other shareholders who are interested and accept the offer. The Mandatory Tender Offer process is still in its preliminary stages and several more steps to follow before it is finalized and completed, and the final percentage of ownership by SF THAILAND is still uncertain.

SF THAILAND has recently submitted Form 247-4, which is an initial step of the Mandatory Tender Process on February 8th, 2024. It should be noted that the outcome of the Mandatory Tender Offer to all KEX shareholders depends entirely on the discretion of each existing shareholder in their own decision-making. 

KEX would like to clarify for correct understanding of the information being circulated that such information should be interpreted carefully with reasonable ground and knowledge on the matter. 

The Mandatory Tender Offer process will not have any negative impact on the company’s operations. KEX remains steadfast in prioritizing continuous business operations to elevate the express delivery industry throughout Thailand, a commitment that KEX has upheld consistently, focusing on providing quality service, enhancing societal standards, caring for employees, being accountable to stakeholders, and investors.