We have prepared and attached an English translation of draft Foreign Business License (“FBL”) application of PJT Technology Co., Ltd. (the “Company”) for providing guarantee service to its affiliated company in Thailand. Please review the attached draft as appropriate as well as provide input to the parts highlighted in yellow. You will see our comments/explanation (in blue) on what are the information and documents specifically required from the Company. They include various aspects in accordance with the format adopted by the Ministry of Commerce (“MOC”), e.g. 3-year projection of income and expenses, 3-year training plan for Thai employees, details on hiring of employees.