The Stock Exchange of Thailand (SET) will escalate the market surveillance measure imposed on securities of DV8 pcl (DV8) from level 1 to level 2, from July 16, 2025 to August 5, 2025. In addition to restrictions currently imposed under Level 1, trading of DV8 securities will be limited to auction matching method during the specified period. Order submissions are allowed only during pre-open 1, pre-open 2, and pre-close sessions, with random auction matching conducted at three designated intervals as follows:

DV8 securities have been subject to level 1 of market surveillance measures since May 21, 2025 following the unusual change in trading momentum without substantiated fundamentals or information. During the enforcement period of these initial measures, DV8 securities experienced a significant reduction in daily trading volume by 5 million shares on average, while prices continued to increase.

Today (July 15, 2025), DV8 exhibited sharp surges in both trading volume and prices, closing at a new high of THB 8.60 (+21.13%) with 18 million shares traded despite the company’s negative price-to-earnings ratio and price-to-book value ratio of 15.4 times. DV8's market capitalization increased from THB 700 million to THB 11.36 billion over a three-month period. Additionally, on July 3, 2025 and July 11, 2025, the company disclosed information regarding a conditional tender offer priced at THB 0.56 per share which was substantially below the market prices, with a potential cancellation if fewer than 990 million shares are tendered and a statement that the tender offeror planned to expand digital asset business pending completion of a feasibility study by the fourth quarter of 2025. Therefore, SET has decided to escalate the market surveillance measures imposed on DV8 to level 2 from July 16, 2025 to August 5, 2025. Investors are strongly encouraged to conduct comprehensive fundamental analysis and rely exclusively on reliable information prior to undertaking any investment decisions.

Remark: Market surveillance measures for implementation by member companies:

Level 1: Exclusion from credit limit calculation, and cash balance requirement (100 percent cash payment).

Level 2: Prohibition of net settlement, exclusion from credit limit calculation, cash balance requirement, and auction matching method only.

Level 3: One-day trading suspension on the first trading day, prohibition of net settlement following trading permission, exclusion from credit limit calculation, cash balance requirement, and auction matching method only.