Quality Hospitality Leasehold Property Fund : Management Discussion and Analysis Quarter 2 Ending 30 Jun 2022(edited)

Ref. No. Yor Tor. 01103/2022

August 10, 2022

Re: Clarification On Cause Of Operational Performance Change Exceeding 20% - Quality Hospitality Leasehold Property Fund (QHOP)

To: President

The Stock Exchange of Thailand

Dear Sir,

With reference to the operational performance of Quality Hospitality Leasehold Property Fund (QHOP) for the 2nd Quarter's operational performance ended 30 June 2022, the net loss decreased from the same period of the previous year by 138.64% or from the net loss of Baht 1.57 million in the year 2021 to net loss Baht 3.75 million in this year.

UOB Asset Management (Thailand) Co., Ltd. as the management company hereby would like to elaborate the causes of such changes as follows:-

• In the 2nd Quarter year 2022, the Fund has increased in total income from the same period of the previous year by 4242.62% or from the interest income of Baht 0.24 million in the year 2021 to interest income of Baht 10million in this year. The causes of interest income from renovated in assets contract (Date 9 December 2020) that, affecting interest income of the fund.
• In the 2nd Quarter year 2022, the Fund has increased in renovated assets that affecting to unrealized loss in investment from the same period of the previous year of Baht 0.02 million in the year 2021 to unrealized loss in investment of Baht 11.95 million in this year. The causes of the Fund renovated in assets by the renovation agreement (Date 9 December 2020) that, affecting unrealized loss in investment of the fund.

With the reasons as prescribed above, the net profit of the Fund decreased at the above- mentioned ratio.

Please be informed accordingly.

Yours sincerely,

………………………….	………………………….
Mr. Prayad Tansuebchuasai	Ms. Yenruedee Sorcharoensup

Authorized person of the Management Company

Wealth Service

Tel [phone]