Sala @ Sathorn Property Fund : Management Discussion and Analysis Yearly Ending 30 Jun 2022

No. Or. 08-03/65

18 August 2022

Re:	Clarification of change in operational results over 20 per cent compared from
	the same period of the previous year of Sala@Sathorn Property Fund (SSPF)
To:	President
	Stock Exchange of Thailand

Krungsri Asset Management Company Limited ("Management Company"), as Management Company of Sala@Sathorn Property Fund (SSPF) ("Fund"), would like to clarify the change in the operational results according to the income statement of the yearly period commencing from 1 July 2021 and ending on 30 June 2022 as reviewed by the certified public accountant which varies over 20 per cent compared from the same period of the previous year as follows:

The Fund has the net profit from the operational results of the Fund according to the income statement of the yearly period commencing from 1 July 2021 and ending on 30 June 2022 in the amount of THB 33.26 million, down by THB 18.42 million or a decrease of 35.64 per cent. The main reasons are the decrease in the income from the rent and the service fee in the non-renewal of the space lease and service agreement by the major tenant and the effect of the second wave of Coronavirus Disease (COVID-19) pandemic, which has been spreading until now. The government authorities have ordered the relevant notifications to temporarily close the premises in respect of the businesses or activities at risk of spreading COVID-19, as well as requested for full cooperation from all entities to implement the Work From Home policy to their employees in order to prevent the spread of COVID-19. As a result, @Sathorn building has suffered from the loss of the income receivable, such as the rent and service fee, the utilities and other incomes, Consequently, the change in the operational results as abovementioned has occurred.

Please be informed accordingly.

Yours sincerely,

(Mrs. Supaporn Leenabanchong)

Managing Director