Pursuant to Grande Hospitality Real Estate Investment Trust has leased out in its asset in The Sheraton Hua Hin Resort & Spa Project to Honor Business Company Limited to operate a hotel according to Immovable and Movable Lease Agreement Dated 12 October 2017 and the First Extension of Immovable and Mable Lease Agreement of Sheraton Hua Hin Resort and Spa Project of Grande Hospitality Real Estate Investment trust dated 5 March 2020 will expire on 11 October 2023 ("the Lease Agreement"). One Asset Management Limited ("One Asset") in the capacity as the REIT Manager of the Trust hereby informed that the Trust exercised its right to second extension of the lease on 3 April 2023 by making an advance notice of not less than 6 months prior the expiry of the lease term in accordance with terms of the Lease Agreement since the lessee has been performing according to the terms of the Lease Agreement throughout the past operation. The Trust and Lessee has entered into Second Memorandum of Understanding for exercising the right to renew the Lease Agreement which extends the lease term for another 3 year from 12 October 2023 to 11 October 2026 under the same terms and conditions of the Lease Agreement including the right to extend the Lease Agreement.