Grande Asset Hotels and Property Public : Report on the utilization of capital increase as of 30 June 2022

(Translation)

Ref. KorNgor.06/07/2565

27 July 2022

Subject : Report on the utilization of capital increase from the offering to newly issued ordinary shares to existing shareholders (Rights Offering) and the offering to Convertible Debentures

To : Director and Manager,

The Stock Exchange of Thailand

Regarding Grande Asset Hotels and Property Public Company Limited ("The Company") has proceeds from offering to newly issued ordinary shares and the Convertible Debentures during January 2022 to June 2022 as the details following:

1. The proceeds from newly issued ordinary shares to existing shareholders (Right Offering) during 17 - 21 January 2022 in the amount of 541,996,910 shares at the offering price of 0.56 Baht per share, from which the Company received Baht 303,518,269.60 in aggregate proceeds.

The Company would like to report on the utilization of capital increase as mentioned above for the six-month period ended 30 June 2022 as follows:

Transactions	Amount
(Million Baht)
Proceeds from the new ordinary shares	303.52
Repayment of the Company's Debentures No.1/2019	303.52
( GRAND222A) (partial) due February 2022 amounting to
Baht 1,489.40 million
Ending Balance	-

2. The proceeds from exercise the conversion rights of the Convertible Debentures which the Company issued and offered the Convertible Debentures to specific investors, namely Advance Opportunities Fund ("AO Fund") and Advance Opportunities Fund 1 ("AO Fund 1") who are not related persons of the Company totaling to Baht 200,000,000 during 25 March 2022 to 23 June 2022. The investors have exercised the conversion rights of all the Convertible Debentures during 28 March 2022 to 30 June 2022.

The Company would like to report on the utilization of capital increase from exercise of the Convertible Debentures as mentioned above for the six-month period ended 30 June 2022 as follows:

Transactions	Amount
(Million Baht)
Proceeds from exercise of the Convertible Debentures	200.00
Utilization of capital increase:
- For investment and development of projects	45.33
- For working capital of the Company	154.67
Total utilization of capital increase	200.00
Ending Balance	-

Please be informed accordingly.

Yours Sincerely,

-Signature-

Mr. Vitavas Vibhagool

Director and Chief Executive Officer of Real Estate and Hotel Businesses

32nd Fl., Exchange Tower 388, Sukhumvit Road, Klongtoey, Klongtoey, Bangkok 10110 Thailand T: 66(0) 2204 9900 F: 66(0) 2204 9996