Subsidiaries with Wave and its subsidiaries at least 10% and above held by the Company and its subsidiary

WAVE Pictures Co., Ltd.

( WAVE Pictures )

The Company has restructured the business for flexibility in management.

WAVE Food Group Co., Ltd.

( WAVE Food Group )

    The Company has restructured the business by changing its former name “WAVE TV and Movie Studios Co., Ltd.” for flexibility in management.

WAVE Education Group Co.,Ltd.

( WAVE Education Group )

  1. The Company has the rights as Master Franchisee to establish and operate English language centers under the name “Wall Street English” and license franchisees (sub-franchise right) to investors in Thailand, Lao People's Democratic Republic and Kingdom of Cambodia.

  2. The Company has restructured the business by changing its former name “CVD Organizer Co., Ltd.” for clarity and flexibility in management.

Index Creative Village Public Company Limited

(Index)

Service creation and management of integrated marketing communications

WAVE TV Co., Ltd.

(WAVE TV)

  1. Television programs producer and distributor

  2. Seller of TV commercial air time

Jeffer Restaurant Co., Ltd.

( JEFFER )

  1. Purchase and procurement of raw materials and equipment for conducting food and beverages business

  2. Restaurant business including sale of food and beverages

Wall Street English (Thailand) Co., Ltd.

(WSE)

Private English language school

Associated Company

Thai Solar Energy Public Company Limited

( TSE )

To produce electricity from solar energy for sale to public and private sectors.