IRPC Public : Notification of the establishment of a joint venture company between IRPC Public Company Limited and WHA Industrial Development Public Company Limited

-Translation-

Ref. Ngor Nor Por. 022/2018

May 16, 2018

Subject: Notification of the establishment of a joint venture company between IRPC Public Company Limited and WHA Industrial Development Public Company Limited

To:President

The Stock Exchange of ThailandIRPC Public Company Limited (the "Company") is pleased to inform that the Board of Directors Meeting of the Company No.5/2018, held on May 15, 2018, has passed the resolution on the approval of the joint investment with WHA Industrial Development Public Company Limited (Formerly Hemaraj Land and Development Public Company Limited), a wholly-owned subsidiary of WHA Corporation Public Company Limited. The registered capital of the joint venture is Baht 650 million of which the investment portion of 40 percent will be held by the Company and the remaining will be held by WHA Industrial Development Public Company Limited. The joint venture purpose is to develop and operate industrial estate in Ban Khai District, Rayong Province with the land of approximate 2,152 rai. The aforementioned land will be purchased by the joint venture from the Company at market price. The joint venture is targeted to be completely established by the third quarter of 2018. The joint venture establishment is subject to the compliance with the precedent terms and conditions of the shareholder agreement.

The potential transaction is not a connected transaction, and the transaction size is exempted from being disclosed under the Notification of Capital Market Supervisory Board regarding procedures and disclosure of information concerning the acquisition and disposition of assets of listed company, but this report is in accordance with SET's rules, procedures and disclosure of information concerning the investment in a joint venture company with a proportion of 10 percent or more of the total paid up capital.

Please be informed accordingly.

Yours sincerely,

(Mr. Sukrit Surabotsopon)

President

Finance and Investor Relations Department

Tel. 02-765-7380

Fax. 02-765-7379