Financial Transaction with Risk to the Financial Position and Operating Performance. (Revised)

Financial Transaction with Risk to the Financial Position and Operating Performance Quarter / Year : Quarter 3 / 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) : 18,247 Proportion of Loss Amount Compared with the Latest Financial Statements (Unit : Thousand Baht) Operating Income Quarter 3 30 Sep 2026 : 18,247 % Loss Amounts Quarter 3 30 Sep 2026 : 100 For 9 Months 30 Sep 2026 : 71,796 % Loss Amounts For 9 Months 30 Sep 2026 : 176.91 Net Investment Income Quarter 3 30 Sep 2026 (Update) :(3,294) % Loss Amounts Quarter 3 30 Sep 2026 : 553.95 (Update) For 9 Months 30 Sep 2026 (Update) : (63,609) % Loss Amounts For 9 Months 30 Sep 2026 : 199.68 (Update) The Relevant Transaction Value Quarter 3 30 Sep 2026 : 140,765 % Loss Amounts Quarter 3 30 Sep 2026 : 12.96 For 9 Months 30 Sep 2026 : 140,765 % Loss Amounts For 9 Months 30 Sep 2026 : 90.23 Net Assets Quarter 3 30 Sep 2026 : 1,833,078 % Loss Amounts Quarter 3 30 Sep 2026 : 1 For 9 Months 30 Sep 2026 : 1,833,078 % Loss Amounts For 9 Months 30 Sep 2026 : 6.93 Impact Analysis on Business Operation / Financial Position / Liquidity / Operating Performance : As of 30 September 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 is 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 of 30 September 2026, the Trust realized an allowance for expected credit losses of Baht 127.02 million. Corrective and Preventive Measures to Avoid Recurrence of Similar Event : On 15 October 2026, GAHRREIT filed a claim against the lessee and Grande Asset Hotels and Property PCL as the Rental Guarantor with the South Bangkok Civil Court for breach of contract, tort, eviction and damages, with a claim amount of Baht 122.32 million, together with a petition for an interim injunction requesting the Court to order both to deposit with the Court an amount of Baht 11.92 million per month as security for damages to the Trust, from the date of the Court's order until the case is finally determined. 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 : GAHREIT is in the process of monitoring the legal proceedings and preparing a plan of action for the project assets in the event that Lessee handover the asset. After GAHREIT has obtained the return of the leased assets and the transfer of the hotel operating license, GAHREIT plans to engage a property manager on a temporary basis so that the operation of the hotel may continue without interruption, and in the best interests of the Trust and its unitholders. Current Progress Status : Under Rectification ______________________________________________________________________ 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. 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