Statement from Dusit Thani Public Company Limited on the Extraordinary General Meeting of Shareholders No. 1/2025 Minority shareholders uphold Dusit’s independence and protect a proud Thai legacy

The Extraordinary General Meeting (EGM) of Shareholders No. 1/2025 of Dusit Thani Public Company Limited (DUSIT) was held on 26 September 2025. While the first three agendas were concluded, the remaining items have been postponed to 4 December 2025 at 14.00 hrs.

As Group CEO and Acting Chairman of the Board, I would like to take this opportunity to provide further clarification so that all shareholders have the same correct understanding.

Clarification on Agenda Item 3

Regarding the proposal to remove me from my position as Director:

• The current Board of Directors did not propose this removal, nor did it propose the appointment of new directors or changes to the authority of the Board. These items were proposed solely by a major shareholder, Chanat and Children Co., Ltd., exercising its right under Section 100 of the Public Limited Companies Act B.E. 2535 (1992).
• While 42 shareholders, including major shareholder Chanat and Children Co., Ltd., voted in favour of the resolution – representing 425,356,690 shares or 79.61% of the total shares – it fell short of the required threshold of three-fourths of all shareholders attending the meeting and eligible to vote. By number of shareholders, 420 participants, representing almost 87% of those present, voted against the resolution, resulting in its rejection.

I would like to sincerely thank all minority shareholders for standing together to protect and support Dusit, ensuring that the company continues under the leadership of the existing Board in honour and defence of this proud Thai brand.

Protecting minority shareholders and investors

The postponement of the remaining agendas (to increase the number of directors, appoint new directors, and change the authority of the directors) to 4 December 2025 was done to protect the interests of minority shareholders and investors in general, allowing them to receive accurate, fair, and equal information regarding matters that remain unclear.

This includes issues raised in complaints by a minority shareholder to the Securities and Exchange Commission (SEC) and the Trade Competition Commission, concerning allegedly potential collusion to dominate the company’s management, or conduct that may constitute a merger leading to monopoly or market dominance, which requires approval from the Trade Competition Commission.

Preserving Dusit’s independence

At the EGM, I explained that several Dusit businesses overlap with businesses operated by the Central Group, a direct competitor. If Central Group representatives were to sit on Dusit’s Board or hold senior executive positions, Dusit’s management direction could fall under competitor influence.

Furthermore, Central Group would gain access to sensitive internal information such as customer databases and strategic plans. These assets carry immense commercial value and must remain solely for Dusit’s benefit. Allowing such access could cause long-term harm to Dusit’s business and undermine fair competition, ultimately depriving consumers of choice.

Commitment to legacy and growth

Over the years, the current Board, the former Board members whose terms have ended, the management team, and all Dusit employees have worked with dedication and determination to ensure the company adapts and advances gracefully into a new era.

A pivotal moment was when we chose to demolish and redevelop the original Dusit Thani Bangkok hotel. Had we done nothing, the company would not have been able to compete. We therefore decided to embark on the Dusit Central Park project – to elevate Dusit Thani Bangkok to world-class standards while preserving its Thai identity in every respect. Together with my team, we sought strong partners and carefully planned the financing to ensure the project’s success without burdening shareholders.

Even during the most challenging period – the COVID-19 pandemic, which severely impacted the global hotel industry – we pressed forward with determination so that the project could continue without capital increases or extra obligations for shareholders. This decision was made with the best interests of existing shareholders at heart.

As a result of the combined efforts and faith of all parties, Dusit Central Park has proven that perseverance pays off. The reimagined Dusit Thani Bangkok has reopened with dignity, earning numerous prestigious awards. Meanwhile, Dusit Arun, our 7-rai rooftop park created as a new green space for Bangkok, has been warmly welcomed by the public and stands as a distinctive highlight of the project, reflecting our commitment to society and the environment. At the same time, Dusit Residences has achieved over 90% sales, which will generate significant revenue for our company, while the office tower and retail centre are already open and operating successfully.

Amidst these achievements, I remain profoundly grateful for the trust you have placed not only in me, but also in Dusit itself – a proud symbol of Thainess and a cultural heritage we all share.

Dusit Thani Public Company Limited reaffirms its pledge to continue serving with honesty, transparency, and a steadfast commitment to good governance, ensuring that the company remains strong and sustainable for future generations, true to the vision of our founder.

With deepest respect,

Chanin Donavanik

Group Chief Executive Officer

and Acting Chairman of the Board

Dusit Thani Public Company Limited