Financial Transaction with Risk to the Financial Position and Operating Performance.

Financial Transaction with Risk to the Financial Position and Operating Performance Quarter / Year : Quarter 2 / 2026 Name of Transaction : The Lessee had not paid the rent Type of Transaction : - Expected Credit Loss (ECL) Source of Transaction : Grand Hospitality Real Estate Investment Trust ("GAHREIT") invested in and acquired ownership of the Sheraton Hua Hin Resort & Spa hotel project ("The Project") on 12 October 2017. On the same date, GAHREIT leased the project to Honor Business Co., Ltd. ("Lessee"), subsidiary of Grande Asset Hotels and Property Public Company Limited. However, since 2025, Lessee has failed to pay rent from the rental period of April 2025 onward. GAHREIT has exercised its relevant rights under the lease agreement by applying the security deposit placed by the lessee with GAHREIT to settle the outstanding rental periods from April 2025 to July 2025. GAHREIT has notice letters to Lessee and Grande Asset Hotels and Property Public Company Limited ("GRAND") as the guarantor requesting that it fulfill the security deposit to the full amount as the lease agreement, together with default interest. For the rental period from August 2025 onward, GAHREIT has notice letters to Lessee and GRAND demanding payment of rent, outstanding rent, and fulfill the security deposit. Cause of Transaction : The lessee was unable to pay rent to GAHREIT as agreement due to a shortage of financial liquidity. Details of Loss Amounts Loss Amounts (Thousand Baht) : 108,770 Proportion of Loss Amount Compared with the Latest Financial Statements (Unit : Thousand Baht) Operating Income Quarter 2 30 Jun 2026 : 20,854 % Loss Amounts Quarter 2 30 Jun 2026 : 36.22 For 6 Months 30 Jun 2026 : 53,549 % Loss Amounts For 6 Months 30 Jun 2026 : 18.11 Increase (Decrease) in net assets from operations Quarter 2 30 Jun 2026 :(2,600) % Loss Amounts Quarter 2 30 Jun 2026 : 108.61 For 6 Months 30 Jun 2026 : (81,621) % Loss Amounts For 6 Months 30 Jun 2026 : 454.55 The Relevant Transaction Value Quarter 2 30 Jun 2026 : 1,896,896 % Loss Amounts Quarter 2 30 Jun 2026 : 6.85 For 6 Months 30 Jun 2026 : 1,896,896 % Loss Amounts For 6 Months 30 Jun 2026 : 6.85 Net Assets Quarter 2 30 Jun 2026 : 1,836,397 % Loss Amounts Quarter 2 30 Jun 2026 : 7.02 For 6 Months 30 Jun 2026 : 1,836,397 % Loss Amounts For 6 Months 30 Jun 2026 : 7.02 Impact Analysis on Business Operation / Financial Position / Liquidity / Operating Performance : As at 30 June 2026, Honor Business Company Limited ("Lessee") has defaulted on rental payments and fulfill rental deposit to full amount as the lease agreements, totaling Baht 152.20 million. GAHREIT has right to charge default interest from due dates until the dates of payment. However, GAHREIT has not realized such default interest income due to uncertainty regarding its collectability. Such defaults of rental payment are event of default as Immovable Properties and Movable Properties Lease Agreement. Accordingly, GAHREIT is entitled to exercise its rights under the agreements, including applying the rental deposit against the outstanding amounts and terminating the lease agreements. According to Lesse's liquidity shortage issues and the default of on rental payments, GAHREIT has assessed the expected credit loss regarding the rental receivable. GAHREIT considered the lessee's financial status and repayment capacity, including the rental deposit. As at 30 June 2026, the Trust realized an allowance for expected credit losses of Baht 108.77 million. Corrective and Preventive Measures to Avoid Recurrence of Similar Event : GAHREIT has notified the Lessee and required the Lessee to comply with the lease agreement, and is preparing to take legal action for the benefit of GAHREIT and unitholders. Consider the ability of lessee in the future (if applicable). Opinion of the Trust Manager/Management Company on the reasonableness of past transactions : Grand Hospitality Real Estate Investment Trust ("GAHREIT") invested in and acquired ownership of the Sheraton Hua Hin Resort & Spa hotel project ("The Project") on 12 October 2017. On the same date, GAHREIT leased the project to Honor Business Co., Ltd. ("Lessee"), subsidiary of Grande Asset Hotels and Property Public Company Limited REIT Manager's opinion is the lessee has experienced and professional teams for property management, as well as operational standards that enable the continuous, long-term generation of benefits from the project. Furthermore, Lessee is the project's original owner prior to GAHREIT investment and has superior expertise in managing the Sheraton Hua Hin Resort & Spa property project compared to other potential lessees. Additional information can be found in GAHREIT's prospectus under Section 4: "Generation of Benefits of the Trust" Opinion of the Trust Manager/Management Company on the Adequacy of Current Measures : As Honor Business, the lessee, has failed to pay rent to GAHREIT from the rental period of April 2025 onward, GAHREIT shall monitor and require the lessee to comply with the lease agreement, and will consider appropriate management actions for the benefit of GAHREIT and the trust unitholders. The Trust will inform the trust unitholders of any further developments in due course. Current Progress Status : Under Rectification Remark : - ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement. If you would like to see the full details of this information, please click view "full details" in attached file.