Management Discussion and Analysis Quarter 3 Ending 30 Sep 2026

Management Discussion and Analysis Company name : MFC PATONG HERITAGE PROPERTY FUND Year : 2026 Quarter : Quarter 3 Ending : 30-Sep-2026 Note : November 12, 2026 To The President The Stock Exchange of Thailand Ref: MFC PT. 82/2026 Clarification for the change of Fund's performance over 20% MFC Asset Management Public Company Limited, as the Management Company of MFC Patong Heritage Property Fund (M-PAT) ("the Fund"), would like to clarify the change in net Fund's performance for the 3rd quarter ended 30 September 2026 over 20% from the same period of previous year as follows; For the three-month period ended 30 September 2026, the Fund has net decrease in net assets from operations of Baht 6.10 million, less decreasing of 87.20% compared to the same period of previous year which had a decrease in net asset from operation of Baht 47.65 million. the Fund recorded allowance for expected credit loss for the overdue fixed rental from March - September 2026 and variable rental from December 2025 - April 2026. Furthermore, it is a result of asset revaluation dated September 1, 2026 which the Fund has recognized an unrealized loss on change in fair value from asset appraisal of Baht 5 million compared with an unrealized loss on change in fair value of Baht 48 million in the same period of previous year. For nine-month period ended 30 September 2026, the Fund has net decrease in net assets from operations of Baht 8.36 million, less decrease of 79.48% when compared to the same period of previous year which had a decrease in net asset from operations of Baht 40.73 million. This is mainly the result from changing as mentioned above. Kindly be informed accordingly. Yours faithfully, (Mr. Rachata Trachuwanich) Executive Vice President Property and Infrastructure Fund Department 02-649-2000 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.