Explanation for Cancellation

Date: 19th November 2025 The Director Foreign Exchange Investment Department, Bangladesh Bank, Head Office Motijheel Commercial Area, Dhaka-1000. Through: Prime Bank Limited, (Gulshan Branch) Plot # 01, Block- CEN(H), Road # 109, Gulshan Avenue, Gulshan, Dhaka-1212. Subject: Declaration for Cancellation of the Application for Waiver of Condition No. 08 of the BIDA Branch Office Permission Letter. Dear Sir, I, Mitsuo Kawasaki, Country Manager of SANYO ENGINEERING & CONSTRUCTION INC. (Bangladesh Branch Office), hereby formally declare the following: That SANYO ENGINEERING & CONSTRUCTION INC. (Bangladesh Branch Office) had submitted an application to Bangladesh Bank for the Waiver of Condition No. 08 of the BIDA Branch Office Permission Letter. That upon review by Bangladesh Bank and following the meeting held on 21 October 2025, it was noted that: Bangladesh Bank was not satisfied with the explanations and documents submitted in support of the waiver application; and The BIDA permission under which the waiver application was submitted has already expired. In view of the above, we hereby declare and confirm our decision to withdraw and cancel the said application and request Bangladesh Bank to close the file related to the Waiver 8 application. We further declare that we will submit a fresh application, along with an updated and valid BIDA permission, when required for our branch office operations. This declaration is made to Bangladesh Bank for its record and necessary action. Sincerely yours, 🗸 _____________________ MITSUO KAWASAKI Country Manager SANYO ENGINEERING & CONSTRUCTION INC. (Bangladesh Branch Office)