Thai Airways International Public Company Limited Non-Voting Depositary Receipt is a financial instrument representing an ownership interest in the company's non-voting shares. These receipts provide investors the economic benefits of Thai Airways, such as dividends and subscription rights, but do not confer voting rights in corporate decisions. Issued and managed under the Thai NVDR framework, these receipts facilitate investment by allowing holders to access financial returns without affecting foreign ownership limits imposed on voting shares. The instrument supports liquidity and accessibility for investors trading in Thai Baht on the Stock Exchange of Thailand, enabling streamlined participation in the airline's equity. As a prominent national carrier, Thai Airways International's NVDR plays a key role in connecting global investors with Thailand's aviation sector while respecting local regulatory restrictions on foreign control.